The best UK cash ISA rates today

Last updated: 16 April 2024 at 14:00

Market-leading fixed ISA rate goes back above 5.00% AER.

Savers may be relieved to learn they can once again lock in a fixed ISA rate of over 5.00% AER after Virgin Money launched its new 1 Year Fixed Rate Cash ISA Exclusive 12 this morning.

It comes as many of the market-leading fixed ISA rates witnessed a slight dip in the weeks before and after the start of the new tax-year; only yesterday, the best fixed ISA rate sat at 4.80% AER.

Below, we provide more details on some of the best fixed, easy access and notice cash ISA rates on the market. These products are all available to 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, for an overview of the cash ISA market, visit our charts.

The best easy access cash ISA rates

A little over one week on from the start of the 2024/25 tax-year and Plum still leads our easy access ISA chart. Its Plum Cash ISA continues to offer 5.17% AER monthly on balances over £100, inclusive of a 0.86% AER bonus for the first 12 months, which is applied on anniversary of account opening. A minimum deposit of £1 is specified to open and manage this account via the Plum mobile banking app, however, balances below the £100 threshold will receive a lower rate of 3.00% AER. Similarly, you’ll also receive 3.00% AER if you make more than three withdrawals from your pot within the space of a year. Furthermore, although this account permits transfers in from a wide range of different ISAs, doing so will result in the removal of the introductory bonus, meaning you’d receive the underlying rate of 4.29% AER.

Meanwhile, Moneybox also maintains its highly competitive position on our chart this week; the Moneybox Cash ISA offers only a marginally lower rate of 5.16% AER when considering the 0.91% bonus included for the first 12 months. A minimum initial investment of at least £500 is needed to operate this account via the Moneybox mobile app. Once opened, it pays interest on anniversary but applies a lower rate of 0.75% AER if more than three withdrawals are made per year.

If you plan on regularly dipping into your savings pot, however, you may be interested in the Chip Cash ISA (powered by ClearBank) from fellow app-based savings provider, Chip. This account allows unlimited penalty-free withdrawals while also paying a competitive rate of 5.10% AER monthly on deposits of at least £1. What’s more, as a flexible ISA, you’ll be able to replace any withdrawn funds without it counting towards your annual ISA allowance.

With digital accounts continuing to offer some of the most competitive rates this week, if you’d prefer an account which operates by more traditional means, you can filter account opening and management options by selecting ‘full search’ on our charts.

The best fixed cash ISA rates

The market-leading one-year fixed ISA rate went back above the 5.00% AER threshold this week after Virgin Money launched its new 1 Year Fixed Rate Cash ISA Exclusive Issue 12, paying 5.05% AER. 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, can apply online or in branch with no minimum investment specified. The account can then additionally be managed by post, over the phone or by mobile app with further deposits permitted while the issue remains open and earlier access allowed subject to 60 days’ loss of interest. Interest is then paid out once the account matures on 30 April 2025.

While shorter-terms continue to outperform their longer-term counterparts, if you’re specifically looking for a two-year fixed ISA, the best returns in this sector currently stand at 4.65% AER. State Bank of India pays this rate on maturity with its 2 Year Cash ISA Fixed Deposit, but compounds interest annually. In order to apply in branch, you’ll need to open either a new current account or savings account with the provider, as well as have a minimum deposit of at least £1,000. The account can then additionally be managed online or by post but prohibits further contributions to your pot. Meanwhile, although earlier access is allowed, this is subject to 30 days’ notice and account closure. No interest is paid out if your account is closed before the first anniversary of opening; a 1% loss of interest is applied if closed after this milestone.

As for a three-year fixed ISA, OakNorth Bank is just one provider offering the best rate in this corner of the savings market. Its 36-month Fixed Rate Cash ISA pays 4.39% AER monthly after opening online or by mobile app with a minimum deposit of just £1. The account can then continue to be managed via these digital channels, with further additions permitted for 30 days from opening. Earlier access, meanwhile, can be gained subject to 270 days’ loss of interest.

Alternatively, UBL UK offers the same market-leading three-year fixed ISA rate with its 3 Year Fixed Rate Cash ISA, while also topping our five-year chart with its 5 Year Fixed Rate Cash ISA, paying 4.16% AER. These accounts are both available to open online, in branch, by post or via mobile app with a minimum deposit of £2,000, after which they can pay interest either monthly, quarterly, on anniversary or on maturity. While these accounts are additionally manageable over the phone, it should be noted neither permits further deposits and each only allows early access subject to account closure and a respective 270 or 365-day loss of interest penalty.

The best notice cash ISA rates

When it comes to notice ISAs, Aldermore’s 30 Day Notice Cash ISA Issue 12 continues to offer the best rate for an account needing up to 30 days’ notice. As it pays 4.50% AER either monthly or on anniversary, though, keep in mind a higher rate can be secured with some of the most competitive no-notice accounts. Nevertheless, you can apply for and manage this flexible ISA online following an initial investment of £1,000 – additions to which are permitted without restriction. While 30 days’ notice is needed before making a withdrawal, earlier access can be gained subject to 30 days’ loss of interest.

Otherwise, a slightly higher rate can be secured with West Brom BS’s WeBSave 60 Day Notice ISA (Issue 2) if you’re willing to provide more notice before accessing your cash. This online-only account can be applied for with a minimum deposit starting from just a single pound. Further deposits are allowed without restriction and withdrawals from your pot are permitted by serving 60 days’ notice. Earlier access, meanwhile, can be gained subject to a 60-day loss of interest penalty. However, as this account pays 5.10% AER on either a monthly or yearly basis, it doesn’t challenge the market-leading easy access ISA rates offered by the likes of Plum, Moneybox and Chip.