Variable Rate ISAs

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What are Variable Rate ISAs?

Variable rate ISAs are tax-efficient savings accounts that pay a variable rate of interest. This means their rates may increase or decrease as the Bank of England base rate changes. View today's best rates below or read our variable rate ISA guide to learn more.

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Best Rates - Variable Rate ISAs

Aldermore 30 Day Notice Cash ISA Issue 7

AER

1.30%

Account Type
Cash ISA

Notice / Term
30 Day

Interest Paid
Anniversary

Opening Account

Managing Account

Go To Provider's Site

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.30% paid at £1K

AER 1.30% paid at £1K

Interest Paid Anniversary

Interest payment Interest can be paid away or compounded

Min Opening Amount £1,000

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
Earlier access on 30 day loss of interest.

Further Additions Allowed

Information

Min Age 18

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.

Go To Provider's Site
Aldermore 30 Day Notice Cash ISA Issue 7

AER

1.30%

Account Type
Cash ISA

Notice / Term
30 Day

Interest Paid
Monthly

Opening Account

Managing Account

Go To Provider's Site

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.29% paid at £1K

AER 1.30% paid at £1K

Interest Paid Monthly

Interest payment Interest can be paid away or compounded

Min Opening Amount £1,000

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
Earlier access on 30 day loss of interest.

Further Additions Allowed

Information

Min Age 18

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.

Go To Provider's Site
Paragon Bank Easy Access Cash ISA (Issue 5)

AER

1.25%

Account Type
Cash ISA

Notice / Term
None

Interest Paid
Anniversary

Opening Account

Managing Account

Go To Provider's Site

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.25% paid at £1

AER 1.25% paid at £1

Interest Paid Anniversary

Interest payment Interest can be paid away or compounded

Min Opening Amount £1

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
N/A

Further Additions Allowed

Information

Min Age 18

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.

Go To Provider's Site
Paragon Bank Easy Access Cash ISA (Issue 5)

AER

1.25%

Account Type
Cash ISA

Notice / Term
None

Interest Paid
Monthly

Opening Account

Managing Account

Go To Provider's Site

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.24% paid at £1

AER 1.25% paid at £1

Interest Paid Monthly

Interest payment Interest can be paid away or compounded

Min Opening Amount £1

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
N/A

Further Additions Allowed

Information

Min Age 18

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.

Go To Provider's Site
Cynergy Bank Cash ISA

AER

0.75%

Account Type
Cash ISA

Notice / Term
35 Day

Interest Paid
Yearly

Opening Account

Managing Account

Go To Provider's Site

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 0.75% paid at £500

AER 0.75% paid at £500

Interest Paid Yearly

Interest payment Interest must be compounded

Min Opening Amount £500

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
Earlier access on 35 day loss of interest.

Further Additions Allowed

Information

Min Age 16

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.

Go To Provider's Site
Nationwide BS Instant ISA Saver Issue 17

AER

0.40%

Account Type
Cash ISA

Notice / Term
Instant

Interest Paid
Yearly

Opening Account

Managing Account

Go To Provider's Site

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 0.30% paid at £1, 0.40% paid at £10K, 0.50% paid at £50K

AER 0.30% paid at £1, 0.40% paid at £10K, 0.50% paid at £50K

Interest Paid Yearly

Interest payment Interest can be paid away or compounded

Min Opening Amount £1

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
N/A

Further Additions Allowed

Information

Min Age 16

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.

Go To Provider's Site
Scottish BS Loyalty Cash ISA

AER

1.65%

Account Type
Cash ISA

Notice / Term
Instant

Interest Paid
Yearly

Opening Account

Managing Account

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.65% paid at £1

AER 1.65% paid at £1

Interest Paid Yearly

Interest payment Interest can be paid away or compounded

Min Opening Amount £1

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
N/A

Further Additions Allowed

Information

Min Age 16

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

Existing Customers (who have held an ISA prior to tax year 2012/13)

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes Transfers in are not permitted for new customers.

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.
Scottish BS Loyalty Cash ISA

AER

1.55%

Account Type
Cash ISA

Notice / Term
Instant

Interest Paid
Yearly

Opening Account

Managing Account

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.55% paid at £1

AER 1.55% paid at £1

Interest Paid Yearly

Interest payment Interest can be paid away or compounded

Min Opening Amount £1

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
N/A

Further Additions Allowed

Information

Min Age 16

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

Existing Customers (ISA accounts opened in tax year 2012/13)

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes Transfers in are not permitted for new customers.

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.
Buckinghamshire BS 180 Day Cash ISA

AER

1.51%

Account Type
Cash ISA

Notice / Term
180 Day

Interest Paid
Monthly

Opening Account

Managing Account

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.50% paid at £100

AER 1.51% paid at £100

Interest Paid Monthly

Interest payment Interest must be paid away

Min Opening Amount £100

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
Earlier access subject to 180 day loss of interest.

Further Additions Allowed

Information

Min Age 16

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.
Buckinghamshire BS 180 Day Cash ISA

AER

1.50%

Account Type
Cash ISA

Notice / Term
180 Day

Interest Paid
Yearly

Opening Account

Managing Account

Rates

Access

Information

Opening Restrictions

ISA Information

Additional Information

Rates

Rate 1.50% paid at £100

AER 1.50% paid at £100

Interest Paid Yearly

Interest payment Interest can be paid away or compounded

Min Opening Amount £100

Max Investment £0

Introductory bonus N/A

Access

Withdrawals Allowed

Early Access Allowed

Access Note
Earlier access subject to 180 day loss of interest.

Further Additions Allowed

Information

Min Age 16

Max Age 0

Taxation
Interest is paid tax free

Opening Restrictions

N/A

ISA Information

Transfers In - Cash ISAs

Transfers In - Stocks & Shares ISAs

Transfers In - Help to Buy ISAs

Additional Permitted Subscription ISA

Transfer Notes -

Flexible Rules Apply

Split ISA Allowance Between Different ISAs With Same Provider

Additional Information

N/A

How safe is your money?

In the UK, the first £85,000 of savings per person is protected by the Financial Services Compensation Scheme. Some banking brands share the same banking licence which means your deposit protection is across all brands sharing the licence. Deposits of small companies, partnerships and charities are also covered by the scheme. If you have also borrowed from the failed bank/building society, the compensation will not be reduced to repay your debt, separate arrangements will be made for this.
This bank/building society shares its compensation limit with no other bank or building society.

Select a Savings Account

Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

Disclaimer

All rates subject to change without notice. Please check all rates and terms before investing or borrowing.

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At a glance

Variable rate ISAs offer tax-free savings that give customers the option of accessing their funds either immediately or after a certain notice period.
While ISAs come with certain restrictions, their tax-exempt status makes them a valuable tool in any saver’s investment toolbox.

While they come with more restrictions than non-ISA accounts, variable cash ISAs still offer plenty of flexibility. There are generally two types of variable ISA: notice ISAs and easy access.

Variable rate ISAs with a notice period usually require some advance warning before the bank or building society will let you take the funds out of your account, while easy access ISAs generally allow additions and withdrawals without limit, however there are now an increasing number of providers that restrict how many withdrawals can be made in a year.

This is in contrast with fixed rate ISAs, which typically do not allow any access until a certain period has passed, in exchange for higher and set rates. Even if you find the best variable ISA rate, and this can beat fixed rates, there’s always a chance that it can lessen over time – hence the variable part. While this makes it a gamble, the access options these accounts offer could certainly make it worth the risk.

Why should I choose one?

The main benefit of any ISA is that your savings remain tax-free for as long as they are in an ISA. This means you can accumulate quite a savings pot over time, which may well be able to gain enough interest to breach the Personal Savings Allowance.

Specific reasons to pick a variable cash ISA are if you think rates might increase soon and you don’t want to commit your funds to a fixed rate deal, or if you are approaching the time when you will require the funds – such as when you’re closing in on that all-important first home deposit amount.

Most variable rate ISAs will allow you to withdraw your funds – either instantly or following a notice period. Additionally, ISA rules allow you to withdraw and replace funds within the same tax year without this impacting on your ISA allowance (see below). This makes them an excellent choice for people who want to eventually save up a large pot of money but don’t want to lose access.

How much can I save in a variable ISA?

Per tax year (which runs from 6 April of one year to 5 April of the next year), you are restricted by the ISA allowance as to what you can put away. For both the 2018/19 and 2019/20 tax years, the ISA allowance stands at £20,000.

This means that you can put this amount of money into a new or existing variable rate ISA. If you also want to save in a different kind of ISA (say a stocks & shares ISA), you should note that the allowance covers all of them combined. So, if you want to save in both a cash ISA and stocks & shares ISA, you’ll have to decide whether you want to put an equal £10,000 in each account or divide the funds up differently.

While you’re only able to put a certain amount of new money into an ISA per tax year, you are able to transfer your existing ISA funds across providers without limit. So, if you see a better variable rate elsewhere, you should be able to transfer your whole pot over in one go – just be sure to follow the ISA rules, otherwise you might end up getting in trouble. Bear in mind that not all ISAs allow funds to be transferred in, it depends on the provider.

How many ISAs can I have?

Related to the ISA allowance are some opening restrictions that might make ISAs slightly less appealing than non-ISA accounts. While you can have as many ISAs as you want, you can only open one new ISA of each type per tax year.

Unless the provider allows the allowance to be shared among its range of ISAs, this means you will have to pick whether you want to open a fixed or variable cash ISA. While opening the new variable ISA saver, you could however choose to also transfer funds into the account from another ISA, so you can accumulate more than just the ISA allowance into your new account within the tax year.

Similarly, there are no restrictions when it comes to how many ISAs you can have open. So, it may take some years, but you could have dozens of separate ISAs eventually – though this will likely make oversight and administration of them quite complicated.

Advantages and disadvantages

Tax-free while the funds remain in the ISA
Access possible either instantly or with a certain amount of notice
Can withdraw and replace funds within the same tax year, if needed (if your provider allows this, not all do)
Can add funds throughout the year if you’d rather not invest the full ISA allowance in one go

Variable ISA interest rates tend to be somewhat lower than their non-ISA variable savings counterparts, but this depends on the wider market
Can only put in so much per tax year
ISAs come with certain restrictions that limit the number of accounts you can open per year

Is my money safe in an ISA?

When it comes to cash ISAs, the same depositor protection schemes apply as with other UK savings accounts. That means that £85,000 of your savings are protected per banking institution – unless you’re choosing to save with the Government-backed National Savings & Investments (NS&I), as they can guarantee 100% of your savings remain protected.

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Variable Rate ISAs

We found 168 products

What are Variable Rate ISAs?

Best Rates - Variable Rate ISAs

Rates

Access

Access Note

Information

Taxation

Opening Restrictions

ISA Information

Additional Information

How safe is your money?

Rates

Access

Access Note

Information

Taxation

Opening Restrictions

ISA Information

Additional Information

How safe is your money?

Rates

Access

Access Note

Information

Taxation

Opening Restrictions

ISA Information

Additional Information

How safe is your money?

Rates

Access

Access Note

Information

Taxation

Opening Restrictions

ISA Information

Additional Information

How safe is your money?

Rates

Access

Access Note

Information

Taxation

Opening Restrictions

ISA Information

Additional Information

How safe is your money?

Rates

Access

Access Note

Information

Taxation

Opening Restrictions

ISA Information