Last updated: 27 March 2024 at 11:00
Market-leading easy access ISA rate ticks upwards; Withdrawal from Virgin Money sees Kent Reliance and OakNorth Bank top one-year fixed bond chart.
Following an increase yesterday from Moneybox, Plum responded almost immediately by raising the rate paid by its Plum Cash ISA to 5.17% AER. As a result, it resumes a marginal lead over the rest of easy access ISA market.
However, the close competition to top this sector is contrasted by Virgin Money withdrawing its formerly market-leading fixed-rate ISA. Its absence makes way for one-year terms from Kent Reliance and OakNorth Bank to offer the most competitive rate of any fixed rate ISA at 5.07% AER.
In the lead-up to the end of the tax-year on 5 April 2024, we’ll be updating our ISA roundup daily to keep you informed of some of the latest changes in the market.
Related guide: What is ISA season and why does it matter for your savings?
Below, we provide more detail on some of the best easy access, fixed and notice cash ISA rates on the market. These products can be accessed by new customers with deposits of up to £10,000. Keep in mind higher rates may be available to existing customers or those with a larger initial deposit.
For a more detailed view of the cash ISA market, visit our charts.
Account: Plum Cash ISA
Notice: None
Rate: 5.17% AER (Includes a bonus)
Transfers In: Cash ISA, Stocks and Shares ISA, Cash APS ISA, Stocks and Shares APS ISA, Help to Buy ISA, Innovative Finance ISA, Cash LISA, Stocks and Shares LISA
Account: Moneybox Cash ISA
Notice: None
Rate: 5.16% AER (Includes a bonus)
Transfers In: Cash ISA, Stocks and Shares ISA, LISA, Stocks and Shares LISA, Help to Buy ISA, Innovative Finance ISA
Account: Chip Cash ISA (powered by ClearBank)
Notice: None
Rate: 5.10% AER
Transfers In: N/A
An increase from Plum sees the provider once again displace Moneybox from the top of our easy access ISA chart. The Plum Cash ISA now offers 5.17% AER monthly on balances over £100 when considering the 0.86% AER bonus included for the first 12 months (which is paid on the anniversary of account opening). While this account can be opened and managed via Plum’s mobile banking app with no minimum deposit, any balances below the £100 threshold will receive a lower rate of 3.00% AER. Similarly, it only permits three penalty-free withdrawals each year before dropping the rate to 3.00% AER. As for transferring in funds from other ISAs, this is allowed from a variety of different accounts but will result in you losing the introductory bonus and receiving the underlying rate of 4.29% AER.
Moneybox therefore returns to second place on our chart but continues to offer a highly competitive rate of 5.16% AER with its Moneybox Cash ISA – inclusive of a 0.91% bonus for the first 12 months. A minimum deposit of £500 is needed to open and manage this account via the Moneybox mobile banking app. However, keep in mind a lower rate of 0.75% AER will apply if more than three withdrawals are made within a year.
Meanwhile, if you plan on making regular withdrawals from your pot, you may want to consider other options. The Chip Cash ISA (powered by ClearBank), from digital provider Chip, continues to offer a highly competitive rate of 5.10% AER monthly and permits unlimited penalty-free withdrawals. Furthermore, as a flexible ISA, you'll be able to replace any withdrawn funds without it counting towards your annual ISA allowance. New and existing Chip savings account customers can open this app-based account with just a £1 deposit. However, it should be noted that transfers in aren't accepted, so this account won’t suit those looking to move funds across from another ISA.
With digital accounts continuing to offer some of the most competitive rates this week, if you’d prefer an account which operates through more traditional means, you can filter account opening and management options by selecting ‘full search’ on our charts.
Compare the best easy access cash ISAs on our charts.
Account: Cash ISA 1 Year Fixed Rate - Issue 93
Notice/Term: 1 Year Bond
Rate: 5.07% AER
Transfers In: Cash ISA, Stocks and Shares ISA, Cash LISA, Stocks and Shares LISA, Cash APS ISA, Stocks and Shares APS ISA, Help to Buy ISA, Innovative Finance ISA
Account: Fixed Rate Cash ISA
Notice/Term: 12 Month Bond
Rate: 5.07% AER
Transfers In: Cash ISA
Account: 2 Year Fixed Rate Cash ISA
Notice/Term: Two year bond
Rate: 4.70% AER
Transfers In: Cash ISA
Account: Fixed Rate Cash ISA
Notice/Term: 24 Month Bond
Rate: 4.70% AER
Transfers In: Cash ISA
Account: 2 Year Fixed Rate Cash ISA
Notice/Term: Two Year Bond
Rate: 4.70% AER
Transfers In: Cash ISA, Stocks and Shares ISA
Account: 3 Year Fixed Rate Cash ISA
Notice/Term: Three year bond
Rate: 4.50% AER
Transfers In: Cash ISA, Stocks and Shares ISA, Help to Buy ISAs
Account: 5 Year Fixed Rate Cash ISA
Notice/Term: Five year bond
Rate: 4.16% AER
Transfers In: Cash ISA
Two providers now jointly top our one-year fixed ISA chart after long-time leader, Virgin Money, withdrew its formerly market-leading account. Kent Reliance’s Cash ISA 1 Year Fixed Rate – Issue 93 pays 5.07% AER either monthly or on maturity following a minimum initial deposit of £1,000. This account can be opened and managed either online or in branch, and permits further additions to your pot in branch, by cheque or bank transfer. As for transferring in funds held in another ISA, your request must be made within 30 days of account opening. Earlier access to the money in your account can be gained subject to a 90-day loss of interest penalty, but it should be noted the withdrawal method will depend on how the account was opened.
Alternatively, OakNorth Bank pays the same rate monthly on its 12 month Fixed Rate Cash ISA. This digital account can be opened and managed online or via mobile app with a smaller initial investment of just £1. Further additions to this amount are permitted for 30 days, while earlier access will incur 90 days’ loss of interest.
Meanwhile, if you’re looking for a slightly longer fixed term, it should be noted ISAs in these sectors continue to be outperformed by their shorter-term counterparts. Nevertheless, UBL UK still provides the market-leading two-year fixed ISA rate with its 2 Year Fixed Rate Cash ISA paying 4.70% AER, while also topping our five-year fixed ISA chart at 4.16% AER with its 5 Year Fixed Rate Cash ISA. Either account can be applied for online, in branch, by post or via mobile app with a £2,000 deposit; the two-year term pays interest either monthly, on anniversary or on maturity, while its five-year counterpart comes with the additional option of receiving interest quarterly. Once opened, these accounts can also be managed over the phone, but it should be noted neither permit further additions to your funds. Earlier access, meanwhile, is available subject to a loss of interest penalty and account closure.
Again, OakNorth Bank jointly offers the market-leading two-year fixed ISA rate with its 24 month Fixed Rate Cash ISA also paying 4.70% AER monthly. Like its one-year counterpart, this account operates online or via mobile app with a much smaller deposit of just £1. You can make further additions to this amount for 30 days from opening, while earlier access will cost 180 days’ loss of interest. It should be noted that, although transfers in from other cash ISA are allowed, the account must be funded within 30 days of approval or it will be closed.
Otherwise, Close Brothers Savings' 2 Year Fixed Rate Cash ISA is another account paying 4.70% AER. However, it requires a sizeable minimum deposit of £10,000 to open online. You have the additional option to manage your account by post or phone once opened, and you can add to your savings pot for a further 10 days. Bear in mind that, if you want to transfer in from another ISA, you also need to do this within 10 days. Earlier access to your money is only allowed on closure of the account and is subject to a 150-day loss of interest penalty.
Finally, the best three-year fixed ISA rate is available from Aldermore, with its 3 Year Fixed Rate Cash ISA paying 4.50% AER monthly or on anniversary. A £1,000 deposit is needed to open and manage this flexible ISA, after which further additions are permitted for 14 days. While transfers in are permitted from cash ISAs, stocks and shares ISAs, cash APS ISAs and Help to Buy ISAs, transfer forms must be submitted within the first 10 business days from opening.
Account: 30 Day Notice Cash ISA Issue 12
Notice: 30 days
Rate: 4.50% AER
Transfers In: Cash ISA, Stocks & Shares ISA, Help to Buy ISA, Cash APS ISA
Account: WeBSave 60 Day Notice ISA (Issue 2)
Notice: 60 days
Rate: 5.10% AER
Transfers In: Cash ISA, Stocks and Shares ISA, LISA, Stocks and Shares LISA, Help to Buy ISA, Innovative Finance ISA, Cash APS ISA, Stocks and Shares APS ISA
In the notice ISA market, Aldermore still offers the best rate when it comes to accounts needing 30 days or less notice before making a withdrawal. Its 30 Day Notice Cash ISA Issue 12 pays 4.50% AER either monthly or on anniversary once opened online with a £1,000 deposit. You can then continue to manage this flexible ISA online, with further additions allowed without restriction. As for earlier access without providing notice, this can be gained subject to 30 days’ loss of interest.
However, you may be able to find a better rate if you’re willing to provide more notice before accessing your cash. The WeBSave 60 Day Notice ISA (Issue 2) from West Brom BS, for instance, tops our up to 60-day notice ISA chart at 5.10% AER. This account can be both opened and managed online with just a single pound deposit, after which interest will be received either monthly or yearly. Again, further additions are allowed without restriction, but earlier access will incur a 60-day loss of interest penalty.
For more details on any mentioned account or to compare rates from other top providers, visit our ISA charts.
Compare the best notice ISAs on our charts.
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