Last updated: 18 March 2024 at 13:45
Little change in the ISA market as a vote on the Bank of England base rate looms
There’s little to report in the ISA market today, as the top easy access, fixed and notice cash ISA rates went unchanged over the weekend.
However, with the Bank of England’s Monetary Policy Committee (MPC) meeting this Thursday to vote on the base rate, it’s possible some providers may be holding off making any amends until then.
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: Moneybox Cash ISA
Notice: None
Rate: 5.11% 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
Account: Smart ISA – Access ISA pot
Notice: None
Rate: 5.08% AER (Includes a bonus)
Transfers In: Cash ISA
Moneybox leads the easy access ISA market following an increase to its Moneybox Cash ISA. When considering the 0.96% bonus included for the first 12 months, this account now narrowly tops our chart at 5.11% AER. Interest is paid out on anniversary after opening this app-based account with a minimum deposit of at least £500. Keep in mind, though, only three penalty-free withdrawals are permitted per year before a reduced rate of 0.75% AER is applied.
If you plan on making regular withdrawals from your pot, you may therefore want to compare 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 Furthermore, as a flexible ISA, you'll be able to replace any withdrawn funds without it counting towards your annual ISA allowance.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.
You may also want to consider the Smart ISA – Access ISA pot from Zopa, offering a marginally lower rate of 5.08% AER monthly. This flexible ISA allows unlimited penalty-free access to your cash with the only stipulation being any transaction must take place via a nominated account. Operating via mobile app with a minimum deposit of just £1, you’ll need to either hold or open a Zopa Smart Saver in order to apply. Additionally, as its headline rate is inclusive of a 0.50% bonus until 6 April 2025, you’ll want to check you’re still getting competitive returns once the bonus expires – as is the case with any account which comes with an introductory bonus.
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: 1 Year Fixed Rate Cash ISA Exclusive Issue 11
Notice/Term: 31 March 2025
Rate: 5.25% AER
Transfers In: Cash ISA, Stocks and Shares 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
The 1 Year Fixed Rate Cash ISA Exclusive Issue 10 from Virgin Money spends another week at the top of our one-year fixed ISA chart. 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 either apply online or in branch with no minimum deposit required. Once opened, this account can additionally be managed by post, over the phone or by mobile app and will pay 5.25% AER when the account matures on 31 January 2025. Additions are permitted during this time so long as the issue remains open, but earlier access before the end of the term will result in a 60-day loss of interest penalty.
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, top rates in the two and three-year markets have improved recently as a result of providers making increases. For instance, not only does UBL UK continue to provide the market-leading five-year fixed rate with its 5 Year Fixed Rate Cash ISA paying 4.16% AER, but it also now jointly offers the best two-year fixed ISA rate. It increased its 2 Year Fixed Rate Cash ISA to pay 4.70% AER either monthly, on anniversary or on maturity. Either account can be opened online, in branch, by post or via mobile app with a £2,000 deposit but neither permit further additions to this amount. They can then also be managed over the phone, with earlier access available subject to a loss of interest penalty and account closure.
Alternatively, OakNorth Bank offers the market-leading two-year fixed ISA rate with its Fixed Rate Cash ISA. This account pays 4.70% AER monthly following a recent increase and 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.
After increasing its rates, Close Brothers Savings' 2 Year Fixed Rate Cash ISA also pays 4.70% AER. Available to open online, this account requires a sizeable minimum deposit of £10,000. You have the additional option to manage your account by post or phone once it’s 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 now available from Aldermore after it increased its 3 Year Fixed Rate Cash ISA to pay 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.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.