The best UK cash ISA rates today

Last updated: 23 April 2024 at 13:40

Recent increases from Shawbrook Bank see the provider take top spots on our three and five-year fixed ISA charts.

If you’re looking for tax-free returns on your savings, you’ll be pleased to learn product choice in the ISA market rose to a near six-month high at the start of April.

With over 520 accounts to choose from on a first-of-month basis, we provide more details on some of the very best easy access, notice and fixed ISA rates available.

These products can all be accessed by new customers with initial deposits of up to £10,000. Keep in mind, higher rates may be available to existing customers or those with a larger investment.

Alternatively, you can visit our charts for a complete overview of the ISA market as a whole.

The best easy access cash ISA rates

With many options to choose from, those looking for the market-leading easy access ISA rate will find it’s still offered by Plum this week. The Plum Cash ISA continues to pay 5.17% AER monthly on balances over £100 when considering the 0.86% AER bonus included for the first 12 months, applied on anniversary. This digital account can be both opened and managed via the Plum mobile banking app with a minimum deposit of just £1, however, it should be noted any balances lower than £100 will receive a lower rate of 3.00% AER. Equally, a rate of 3.00% AER is applied if you make more than three withdrawals within a year. While this account permits transfers in from a range of different ISAs, be aware you’ll need to sacrifice the introductory bonus to move your money across; as a result you’d receive the underlying rate of 4.29% AER.

Alternatively, the Moneybox Cash ISA from fellow app-based provider, Moneybox, offers only a marginally lower rate of 5.16% AER which includes a 0.91% bonus for the first 12 months. After applying for this account with a deposit of at least £500, interest is paid out on anniversary and you’ll be able to make three penalty-free withdrawals from your funds. Exceed this amount, and a lower rate of 0.75% AER is applied.

However, if unlimited penalty-free access to your cash is a must-have, you may want to consider an easy access ISA from Chip instead. Its Chip Cash ISA (powered by Clearbank) offers the next best rate on our chart at 5.10% AER and lets you make unlimited penalty-free withdrawals. As a flexible ISA, you’ll also be able to replace any withdrawn funds without it counting towards your annual ISA allowance. To start saving, this account can be both opened and managed via the Chip mobile banking app with a minimum deposit of just a single pound.

Prefer to open and manage your savings account by more traditional means? While digital providers continue to offer some of the best rates this week, you can filter accounts by opening and management methods by selecting ‘full search’ on our charts.

The best fixed cash ISA rates

As for securing a competitive fixed rate, Virgin Money’s 1 Year Fixed Rate Cash ISA Exclusive Issue 12 retains top spot on our one-year ISA chart for a second consecutive week. Paying 5.05% AER when it matures on 30 April 2025, this account is available to new and existing Virgin Money current account customers from 4 December 2019, or existing customers who originally opened a Clydesdale Bank, Yorkshire Bank or B current account. It can be applied for either online or in branch with no minimum deposit specified, after which it can additionally be managed by post, over the phone or by mobile app. Once established, further deposits are allowed while the issue remains open and earlier access is permitted subject to 60 days’ loss of interest.

Those interested in a longer fixed term will find rates in this corner of the savings market continue to fall behind their shorter-term counterparts. Nevertheless, State Bank of India continues to provide the best two-year fixed ISA returns with its 2 Year Cash ISA Fixed Deposit paying 4.65% AER, which is compounded annually and paid on maturity. To apply in branch, you’ll need to hold a new current or savings account with this provider, as well as have a minimum deposit of £1,000. Further additions to this amount are prohibited, however, and earlier access is only granted on account closure, subject to 30 days’ notice. An important note - if the account is closed before its first anniversary, no interest will be paid out. Meanwhile, closing at any point after the first anniversary will incur 1% loss of interest.

For a fixed term that is longer still, the 36-month Fixed Rate Cash ISA from OakNorth Bank jointly offers the best three-year ISA rate at 4.40% AER. This digital account can be applied for and managed either online or by mobile app with a minimum deposit of just £1. Once opened, you’ll then have 30 days to make any further additions to this amount and will receive interest paid monthly. As for earlier access, this can be gained subject to 270 days’ loss of interest.

It shares top spot on our three-year chart with the recently increased 3 Year Fixed Rate Cash ISA Bond Issue 54 from Shawbrook Bank. What’s more, this provider now also leads our five-year fixed ISA chart with its 5 Year Fixed Rate Cash ISA Bond Issue 45 paying 4.17% AER. Either of these accounts can be opened online with a £1,000 deposit, after which interest is paid out monthly or on anniversary and additions are permitted without restriction. They can then additionally be managed over the phone, with earlier access permitted subject to a respective 270 and 360-day loss of interest penalty.

The best notice cash ISA rates

When it comes to notice ISAs, it should be noted none can better the rates offered by the top no-notice accounts.

However, savers can still find the best rate for an ISA needing up to 30 days’ notice from Aldermore; for yet another week running its 30-Day Notice Cash ISA Issue 12 pays 4.50% AER either monthly or on anniversary. This flexible ISA can be opened and managed solely online following a £1,000 initial investment. Should you need earlier access to the cash in this account without serving 30 days’ notice, this can be gained subject to 30 days’ loss of interest.

Meanwhile, it’s possible to secure a slightly higher rate if you’re willing to provide more notice before making a withdrawal. The WeBSave 60 Day Notice ISA (Issue 2) from West Brom BS continues to pay 5.10% monthly or yearly – topping our up to 60-day notice ISA chart. This online-only account can be applied for with a minimum deposit of just £1. While 60 days’ notice is needed before making a withdrawal, earlier access is available subject to 60 days’ loss of notice.