A Cash ISA works in much the same way as an ordinary savings account, except you do not pay tax on the interest you earn. This makes them an attractive option for anyone who normally pays tax on their savings. There are two main types of Cash ISA: Variable and Fixed.
Please note companies are ranked in no particular order and data comes from each company’s website and was last updated in March 2023.
| COMPANY | INTEREST RATE |
|---|---|
| Aldermore Bank | 0.55% AER (variable), 0.75% AER (fixed) |
| Al Rayan Bank | 0.60% AER (variable) |
| Barclays | 0.02-0.05% AER (variable), 0.40-0.45% AER (fixed) |
| Bath Investment Building Society | 0.60% AER (variable) |
| Beverley Building Society | 0.30% AER (variable) |
| Bira Bank | not stated |
| Bristol Credit Union | 0.35% AER (variable) |
| Buckinghamshire Building Society | 0.15% AER (variable) |
| Cambridge Building Society | 0.35% AER (variable), 0.70% AER (fixed) |
| Capital Credit Union | 0.75% AER (variable) |
| Castle and Crystal Credit Union | 1.00% AER (variable) |
| Chorley Building Society | 0.30% AER (variable) |
| Co-operative Bank | 0.09% AER (variable), |
| Coventry Building Society | 0.40% AER (variable) 0.85% AER (fixed) |
| Darlington Building Society | 0.35% AER (variable) |
| Earl Shilton Building Society | 0.60% AER (variable) |
| Ecology Building Society | 0.45% AER (variable) |
| Gatehouse Bank | 0.60% AER (variable), 0.60-0.90% AER (fixed) |
| Harpenden Building Society | 0.45% AER (variable) |
| HSBC Bank | 0.20% AER (variable) |
| HTB | 0.65% AER (fixed) |
| Kingdom Bank | 0.50% AER (fixed) |
| Leeds Building Society | 0.70-0.90% AER (fixed) |
| Leek United Building Society | 0.50% AER (variable), 0.45-0.55% AER (fixed) |
| Mansfield Building Society | 0.30% AER (variable), 0.75& AER (fixed) |
| M&S Bank | 0.10% AER (variable), 0.40-0.50% AER (fixed) |
| National Counties Building Society | 0.51% AER (variable) |
| National Savings | 0.10% AER (variable) |
| National Westminster Bank | 0.15% AER (fixed) |
| Nationwide Building Society | 0.25% AER (variable), 0.30% AER (fixed) |
| Newcastle Building Society | 0.25% AER (variable), 0.75-0.90% AER (fixed) |
| Nottingham Building Society | 0.50% AER (variable) |
| Partners Credit Union Limited | 1.00% AER (variable) |
| Penny Post Credit Union Limited | 1.5% AER (variable) |
| Principality Building Society | 0.10% AER (variable), 0.65% AER (fixed) |
| Progressive Building Society | 0.25-0.50% AER (variable) |
| Punjab National Bank | 0.50% AER (variable), 0.70-1.20% AER (fixed) |
| Sainsburys Bank | 0.35% AER (variable) |
| Santander | 0.05% AER (variable), 0.20% AER (fixed) |
| Scottish Building Society | 0.60% AER (variable) |
| Secure Trust Bank | not stated |
| Shawbrook Bank | 0.50% AER (variable), 0.60-1.25% AER (fixed) |
| Stafford Railway Building Society | 0.40% AER (variable) |
| State Bank of India | 0.25% AER (variable), 0.50-0.60% AER (fixed) |
| Swansea Building Society | 0.60% AER (variable) |
| Teachers Building Society | 0.40-0.70% AER (variable) |
| Tesco Personal Finance | 0.10% AER (variable), 0.40% AER (fixed) |
| Triodos Bank | 0.05% AER (variable) |
| TSB Bank | 0.20% AER (variable), 0.40% AER (fixed) |
| Ulster Bank | 0.01% AER (variable) |
| UBL | 0.48-1.15% AER (fixed) |
| Virgin Money | 0.50% AER (variable), 0.60-0.75% AER (fixed) |
| Yorkshire Building Society | 0.10-0.50% AER (variable), 0.55-0.60% AER (fixed) |
Topics
1. Aldermore*
- A part of FirstRand Group, one of South Africa’s largest financial services institutions
- Multiple award-winning: Best Fixed Rate Business Savings 2020, Best Cash ISA Provider 2020
- Fixed and variable rate Cash ISA products available
- Competitive rates not artificially inflated by bonuses or introductory offers
- Fast and easy set-up in minutes
- 14 day cooling off period
- Easily transfer ISAs from other providers
- Your money is protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme
- Online free signup
Website: Aldermore
Read the full Aldermore review.
2. Al Rayan Bank
- The UK’s oldest and largest Sharia compliant retail bank
- The UK’s only Sharia compliant instant access Cash ISA
- Islamic banking allow Muslims to conduct their finances appropriately
- Instant access to your money online or through our telephone banking service
- Flexibility to make additional deposits with no minimum amount, up to your annual cash ISA allowance
- Expected profit rate is 0.60%
- Sharia compliant return on your saving
- 24 hour automated telephone banking
- Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
- Award-winning: 2020 Gold Ribbon Customer experience, Best Islamic Bank of the Year
- Fast easy online setup
Website: Al Rayan
Read the full Al Rayan review.
3. Barclays
- Over 325 years of history and expertise in banking and investments
- A large selection of Cash ISAs to choose from
- Over 2,000 funds and Exchange Traded Funds (ETFs), trusts and shares to invest in
- Smart Investor provides access to tools, articles, videos and research to help customers make informed investment decisions
- Useful online resources available such as the cover calculator tool
- Handy online jargon buster guide
- Transparent fee structure
- Provided and administered by AJ Bell, an award-winning pension provider
- Fast easy online setup
Website: Barclays
Read the full Barclays review.
4. Bath Building Society
- Founded in 1904, Bath Building Society has grown to be a popular savings and investments provider
- Present-day assets of £292 million
- Specialises in savings accounts and mortgages
- Cash ISAs and Junior ISAs available only
- Personalised service; no call centres
- Active involvement in the local community and local community schemes
- Fast easy online setup
- Competitive interest rates
- Detailed product information on website
Website: Bath Building Society
Read the full Bath Building Society review.
5. Beverley Building Society
- Founded in 1866, Beverley Building Society is one of the UK’s longest-established societies
- Cash ISAs and Junior ISAs available only
- Also offers various mortgage, savings and investment products
- 5 Star service as voted by members
- Fast easy online setup
- Good product detail and information on website
- FSCS protected
Website: Beverley Building Society
Read the full Beverley Building Society review.
6. Bira
- Located in Birmingham, Bira Bank is the only trade association bank in the UK
- For over 120 years it has specialised in supporting independent retail businesses with the aim of influencing the media, changing Government legislation and providing support on areas of strain like business rates, parking and staffing
- Various fixed rate Cash ISAs available
- An useful online Knowledge Hub of supporting information
- Various member benefits
- No fees or penalties
- Personal, reliable service; no call centres
- Fast easy online setup
- Also offers loans and savings products, mortgages, foreign exchange and various financial products
Website: Bira
Read the full Bira review.
7. Bristol Credit Union
- For over 20 years, Bristol Credit Union has been providing local community banking, ethical savings and fair loans for the people of Bristol, Bath and its surrounding areas
- Money you invest gets put to work for local good
- Cash ISAs available only
- Other services include personal loans, family finance plans and savings accounts
- A competitive return on your savings
- Transfers-in accepted
- Fast easy online setup
- A clear, plain English website, easy to understand
- Protected by the Financial Services Compensation Scheme
Website: Bristol Credit Union
Read the full Bristol Credit Union review.
8. Buckinghamshire Building Society
- Located in Chalfont St. Giles, Buckinghamshire Building Society is a mutual building society
- A commitment to working in an ethical and responsible manner to the benefit of its members and the local community
- Cash ISAs available only
- No penalties for withdrawals
- Minimum £1 deposit
- Instant access or 30 day options with different variable interest rates
- Credit scoring not utilised; customers are assessed using a manual underwriting system
- Also offers savings accounts and mortgages
Website: Buckinghamshire Building Society
Read the full Buckinghamshire Building Society review.
9. The Cambridge Building Society
- Established in 1850, The Cambridge Building Society is a UK mutual building society with total assets of £1,586 million
- Fixed and variable interest rate Cash ISA options
- A useful online Help Centre with downloadable FAQs, guides and more
- Website is clear and easy to understand
- Fast easy online setup
- Some positive reviews: polite, reliable and helpful staff
Website: Cambridge Building Society
Read the full Cambridge Building Society review.
10. Capital Credit Union
- One of the largest credit unions in the UK with almost 23,000 members
- Cash ISAs available only
- Also offer loans, mortgages and savings accounts
- Free life insurance with this Cash ISA
- Useful online loan calculator and FAQs
- A simple, straightforward clear website
- Fast easy online setup
- Good customer reviews
- Approachable and helpful staff, plain English with no banking jargon
Website: Capital Credit Union
Read the full Capital Credit Union review.
11. Castle and Crystal Credit Union
- A membership-based, not-for-profit co-operative
- Surplus profits are awarded to members as dividends on savings
- Cash ISAs available only
- No withdrawal or transfer penalty fees
- Savings products compare favourably with banks and building societies
- Savings are protected up to a total of £85,000 by the Financial Services Compensation Scheme
- Fast easy online setup
- Minimum balance is just £1
- Excellent customer reviews
- Staff are helpful, reliable, good at communicating, and with fast service delivery
Website: Castle & Crystal Credit Union
Read the full Castle & Crystal Credit Union review.
12. Chorley Building Society
- Formed in 1859, Chorley Building Society provides trusted mortgages and savings accounts
- Cash ISAs and Junior Cash ISAs available only
- 14 day cooling off period
- A bespoke, tailored and personal service
- Profits go back to members
- Minimum deposit is just £1
- Fast easy online setup
- Excellent customer review
Website: Chorley Building Society
Read the full Chorley Building Society review.
13. The Cooperative Bank
- A long established, trusted brand and one of the world’s largest consumer co-operatives
- A large selection of fixed and variable interest rate Cash ISA products
- Fast easy online setup
- Open an account with just £1
- Good support tools on website, including a savings budget calculator and product help guides
- Authorised by the Prudential Regulation Authority
- Regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Website: Cooperative Bank
Read the full Cooperative Bank review.
14. Coventry Building Society
- The second largest building society in the United Kingdom
- Award-winning: Gold Ribbon Customer Experience, Moneyfacts Awards, Best Building Society for Savings
- A range of variable and fixed rate Cash ISAs to choose from
- A plain-English, easy to understand website
- Simple and transparent product offerings
- Fast easy online setup
- Partners of The Royal British Legion with certain ISAs supporting the charity
Website: Coventry Building Society
Read the full Coventry Building Society review.
15. Darlington Building Society
- A long-standing, reputable Building Society over 160 years old
- Cash ISAs and Junior Cash ISAs available only
- View your accounts and request transfers quickly and easily online
- Helpful online library of support documents and user guides
- A clear, easy-to-understand website
- Open an account with as little as £1
- Award-winning: British Bank Awards 2020
- Fast easy online setup
Website: Darlington Building Society
Read the full Darlington Building Society review.
16. Earl Shilton Building Society
- A long-standing established organisation
- Over 160 years’ experience in providing mortgage and savings products and services
- Specialises in Instant Access Cash ISAs
- Junior version of the Cash ISA also available
- An informative well-populated website
- Fast easy online setup
- Positive customer reviews
- Great customer service
Website: ESBS
Read the full ESBS review.
17. Ecology Building Society
- Established in 1981 as an eco-friendly building society
- Helps finance environmental building renovations and supports sustainable development
- Online Ecology Hub for green news
- Specialist Ecology Cash ISA
- A good range of simple, transparent savings accounts
- Fast easy online account setup
- A decent library of online help information
- Clear, easy to understand product information on the website
- Excellent online reviews
Website: Ecology Building Society
Read the full Ecology Building Society review.
18. Gatehouse Bank
- Based in Wallsend, Gatehouse Bank is a UK Bank offering Shariah-compliant ethical savings, home finance, buy-to-let finance, commercial property finance and more
- A large range of fixed and variable interest rate Cash ISAs to choose from
- Shariah-compliant ethical savings
- Quick and easy to set up
- Manage your account online 24/7
- Award-winning: Global Islamic Finance Awards / Moneynet Awards / MoneyComms Awards and more
- Helpful downloadable guides and documents
- Online videos and tutorials
- A clear, easy-to-navigate website
- FSCS protected
Website: Gatehouse Bank
Read the full Gatehouse Bank review.
20. Harpenden Building Society
- Formed in 1953, Harpenden Building Society is an English building society, the 30th largest in the United Kingdom with total assets of £315 million
- Cash ISA products available only
- Variable interest rate is 0.45% AER
- Quick and easy to signup online
- A clear website with easy-to-understand information
- 14 day cooling off period
- Minimum deposit of just £1
- Award-winning: Personal Finance Awards, Mortgage Awards
Website: Harpenden Building Society
Read the full Harpenden Building Society review.
21. HSBC
- One of the world’s largest banking and financial services organisations, serving more than 40 million customers
- Loyalty Cash ISA product
- Low cost admin fees
- Fast and free sign-up and application process
- Receive a loyalty rate after 12 months
- A trusted brand with many years of expert guidance including insights and investment tools
- Award-winning: Best Buy 2020, Moneywise Pension Awards 2019
Website: HSBC
Read the full HSBC review.
22. HTB
- With headquarters in London, HTB is a specialist bank focussed on providing business finance, specialist mortgages and development finance solutions
- Two specialist fixed rate Cash ISA products available
- Award-winning: Platinum Trusted Service Award, Savings Champion 2019
- Minimum investment for this account is just £1
- A clear, plain English website
- Fast easy online signup
Website: HTB
Read the full HTB review.
23. Kingdom Bank
- A 65 year old Christian bank
- Provides a range of financial services to suit individuals as well as charities
- One Year Fixed Rate Cash ISAs available only
- Protected up to a total of £85,000 by the Financial Services Compensation Scheme
- Fast easy online setup
- Transfers in accepted
Website: Kingdom Bank
Read the full Kingdom Bank review.
24. Leeds Building Society
- The fifth largest building society in the UK
- A large selection of fixed and variable rate Cash ISAs
- Secure online signup in minutes
- Useful online Knowledge Hub
- Clear, easy-to-understand product information
- Some excellent customer reviews and praise for the customer service team
Website: Leeds Building Society
Read the full Leeds Building Society review.
25. Leek United Building Society
- An independent mutual building society based in Leek, Staffordshire
- A range of fixed and variable rate Cash ISAs
- Secure online signup in minutes
- A clear, easy-to-understand website
- Useful online help guides
- A long 150 year heritage
- Protected by the Financial Services Compensation Scheme
Website: Leek United Building Society
Read the full Leek United Building Society review.
26. Mansfield Building Society
- Long-established, serving customer and member needs since 1870
- As a mutual building society it actively supports the local community through sponsorship, charitable support and the direct engagement of staff
- A choice of three Cash ISA products to choose from
- Minimum Balance of just £1, up to £20,000 tax-free each year
- Fast easy online setup
Website: Mansfield Building Society
Read the full Mansfield Building Society review.
27. M&S Bank
- A long established trusted UK brand
- A large range of related financial services offered
- Fixed and Variable Rate Cash ISAs available
- Unlimited transfers from other ISA providers
- Excellent customer feedback
- A decent library of downloadable supporting literature and help guides
- An online virtual assistance for additional help
- Free £100 gift voucher offered to new customers
- Fast easy online signup
Website: M&S Bank
Read the full M&S Bank review.
28. National Savings and Investments
- A long-established, reputable company established 160 years ago
- Direct ISAs and Junior ISAs available
- The minimum investment amount is just £1
- Quick and easy online signup
- Easy access to savings without an access charge or penalty
- A new easier-to-navigate website
- Monthly premium bonds prize draw
Website: National Savings and Investments
Read the full National Savings and Investments review.
29. Nationwide Building Society
- A trusted, popular brand
- The largest building society in the world with over 15 million members
- A large range of savings accounts including Cash, Fixed and Variable interest ISAs
- 14 day cooling offer period on product taken out
- A well informed website
- Decent online FAQs and supporting information
- Easy to manage accounts online
Website: Nationwide
Read the full Nationwide review.
30. Natwest
- A major retail and commercial bank in the United Kingdom, established in 1968
- Part of the Royal Bank of Scotland Group
- Quick and easy online signup
- Variable and Fixed Rate Cash ISA products available
- My Rewards Scheme offers multiple benefits for customers
- £125 Switch offer
- Positive feedback on the product app and web banking tools
Website: NatwestRead the full Natwest review.
31. NCBS
- Based in Surrey, National Counties Building Society is a mutual organisation that is owned by its saving and borrowing members
- Easy Access Cash ISAs available
- Transfers from flexible and non-flexible cash ISAs are accepted
- Easy access to savings without an access charge or penalty
- Open an account from just £1
- Organisation is owned by its members and therefore not subject to Stock Market fluctuations
- A member of the Financial Services Compensation Scheme
- Fast easy online signup
Website: NCBS
Read the full NCBS review.
32. Newcastle Building Society
- Founded in 1980, The Newcastle Building Society is the biggest building society in the North East
- A large range of competitive ISA offerings, including Lifetime ISAs
- Junior versions of the ISAs also available
- Clear, easy-to-understand information on website
- Supports local charities with financial product contributions
- Some positive reviews from happy customers
- Quick easy online signup
Website: Newcastle Building Society
Read the full Newcastle Building Society review.
33. The Nottingham
- Founded in 1849, The Nottingham Building Society is a mutual society
- It provides mortgages, savings, estate agency services, home insurance and financial planning services
- Lifetime ISA, Notice ISA and Junior ISA products available
- Quick easy online signup
- Clear, easy-to-understand information on website
- A good level of product detail offered
- Free advice from trusted mortgage brokers
Website: The Nottingham
Read the full The Nottingham review.
34. Partners Credit Union
- Partners Credit Union is a financial cooperative that was established in 1993 initially for employees of Liverpool City Council
- Now the field of membership includes anyone who lives or works in Merseyside
- Cash ISAs available only
- Includes free life insurance
- Instant access to money with no fees or penalties
- Protected by the Financial Services Compensation Scheme
- Quick easy online signup
Website: Partners Credit Union
Read the full Partners Credit Union review
35. Penny Post Credit Union
- Penny Post Credit Union is a financial co-operative providing secure saving accounts and affordable loans to its members
- A specialist service for employees and families who work for the Royal Mail Group, Parcelforce Worldwide or the Post Office
- Cash ISA product, up to £20,000 tax-free each year
- No limit to withdrawals
- No penalties or other costs
- Quick easy online signup
Website: Penny Post Credit Union
Read the full Penny Post Credit Union review
36. Principality Building Society
- The 6th largest UK building society with over 150 years’ experience
- A large choice of fixed and variable rate Cash ISAs
- Includes a Web ISA with flexible benefits
- Clear, easy to understand information on website
- Useful online calculators and web resources
- A good level of product detail offered
Website: Principality
Read the full Principality review
37. Progressive Building Society
- Long-established and reputable since 1914
- A large choice of Cash ISA products
- Junior versions of the ISA available
- Clear, easy to understand product information
- Authorised by the Prudential Regulation Authority
- Regulated by the Financial Conduct Authority
- Fast easy online signup
Website: Progressive Building SocietyRead the full Progressive Building Society review
38. Punjab National Bank
- A long-established bank with a global reputation
- One of the largest banks in India with over 100 million customers
- Two Cash ISAs; one with a variable rate of interest, the other with a fixed rate
- Minimum amount to open an ISAs is just £1
- Invest up to £20,000 tax-free
Website: Punjab National Bank
Read the full Punjab National Bank review
39. Sainsbury’s Bank
- A trusted British brand
- Good customer feedback and reviews
- Variable, flexible Cash ISAs available
- A quick, simple online process
- Minimum investment of just £1
- Easy access to your money: no withdrawal restrictions
- Also offers loans, savings, insurance, travel money and credit cards
Website: Sainsbury’s Bank
Read the full Sainsbury’s Bank review
40. Santander
- A popular, well-known retail and commercial brand
- Offers a large of range of different ISA products to suit all tastes
- Includes a flexible tax-free Cash eISA
- A large range of financial and personal support services also available
- Award-winning: Moneyfacts 2020
- Clear, easy-to-understand product information on website
- Fast easy online setup
- FSCS protected
Website: Santander
Read the full Santander review
41. SBI UK
- State Bank of India is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai
- Fixed or variable rate Cash ISA options
- Quick easy online setup
- Clear, easy to understand product information
- Handy online ISA calculator
- Useful support guides and downloadable content
- Excellent customer feedback
- Authorised by the Prudential Regulation Authority
- Regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Website: SBI UK
Read the full SBI UK review
42. Scottish Building Society
- Scotland’s only independent building society established in 1848
- Loyalty Cash ISAs
- Transfers-in from both Cash and Stocks and Shares ISAs allowed
- Minimum amount just £1
- Access money any time without penalties
- Variable interest rate of 0.60% AER tax-free
- Protected up to a total of £85,000 by the FSCS
- Award-winning: Scottish Mortgage Awards 2020
Website: Scottish Building Society
Read the full Scottish Building Society review
43. Secure Trust Bank
- Established in 1952, Secure Trust Bank is an award-winning UK retail bank
- Fixed Rate Cash ISAs available
- Transfers-in accepted
- 24/7 online access to your account
- Excellent customer reviews
- After-care service including follow up phone calls
- Authorised by the Prudential Regulation Authority
- Regulated by the Financial Conduct Authority and the Prudential Regulation Authority
- Award-winning: CSE Customer Service Excellence
Website: Secure Trust Bank
Read the full Secure Trust Bank review
44. Shawbrook Bank
- Founded in 2011, Shawbrook is a specialist savings and lending bank
- It offers loans, residential and commercial mortgages, business finance and savings products to serve the needs of SMEs and individuals in the UK
- A large range of fixed and variable rate Cash ISAs
- Quick easy online setup
- Thorough product detail and information
- A clear, easy to understand website
- Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted
- Protected up to a total of £85,000 by the Financial Services Compensation Scheme
- Authorised by the Prudential Regulation Authority
- Regulated by the Financial Conduct Authority
Website: Shawbrook Bank
Read the full Shawbrook Bank review
45. Stafford Railway Building Society
- A long-established credible organisation since 1877
- Cash ISA products available only
- Fast easy online signup
- Minimum deposit of just £1
- Each member with a mortgage or savings balance of £100 is entitled to vote at our Annual General Meeting each year
- A decent library of downloadable support guides
- A clear, easy to understand website
- FSCS protected
Website: Stafford Railway Building Society
Read the full Stafford Railway Building Society review
46. Swansea Building Society
- Founded in 1923, Swansea Building Society is an independent mutual building society
- Cash ISAs and Junior ISAs available
- Minimum investment is £1 for Cash ISAs
- Withdraw money from your Cash ISA account at any time without notice or penalty
- Transfers in and out allowed
- A range of useful forms and downloadable content
- FSCS protected
Website: Swansea Building Society
Read the full Swansea Building Society review
47. Teachers Building Society
- Founded 1966, reputable and well-established
- A range of Cash ISAs to pick from
- Bespoke ISAs available for teachers and the education community
- Transfers in from other providers accepted
- Recommend-a-Friend for a £100 gift card
- £250 quarterly members’ prize draw
- Clear, easy to understand information on website
- Excellent customer feedback
Website: Teachers Building Society
Read the Teachers Building Society review
48. Tesco Bank
- Formed in 1997 as part of a 50:50 joint venture between The Royal Bank of Scotland and Tesco
- A choice of fixed rate or variable interest rate ISAs
- Junior versions of the Cash ISA also available
- A large range of personal banking and insurance products
- Clear, easy to understand information on website
- A selection of helpful online tools, guides and calculators
- Protected by the FSCS
Website: Tesco Bank
Read the Tesco Bank review
49. Triodos Bank
- An ethical approach: the company only lends to organisations making a positive impact socially, culturally or environmentally
- Cash ISAs, Junior ISAs and Stocks & Shares ISAs available
- Transparent charging structure
- Clear, easy to understand information on website
- Excellent customer service reviews
- Fast easy online setup
- Protected by the FSCS
Website: Triodos Bank
Read the Triodos Bank review
50. TSB
- A large, well-known brand
- Partnered with Legal & General to provide protection products
- Various fixed interest rate and various interest rate ISAs available
- Junior versions of the product also available
- Open up a variable interest account from as little as £1
- Authorised by the Prudential Regulation Authority
- Regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Website: TSB
Read the TSB review
51. UBL UK
- UBL UK was formed in 2001 from the merger of the UK branches of two Pakistani banks, United Bank Limited and National Bank of Pakistan
- Operating in the UK since the mid-1960’s
- Fixed Rate Cash ISA products available
- Fast easy online setup
- Transfers-in accepted
- A clear, straightforward website with a useful online FAQs section
- FSCS protected
- Authorised by the Prudential Regulation Authority
- Regulated by the Financial Conduct Authority and the Prudential Regulation Authority
Website: UBL
Read the UBL review
52. Ulster Bank
- Ulster Bank is a large retail bank; one of the traditional Big Four Irish clearing banks
- It offers an extensive range of personal banking products including bank accounts, mortgages, credit cards, loans and more
- Cash ISA products available only
- No minimum deposit
- Fast easy online setup
- Free transfers-in from other ISAs
- Variable interest rate offered at tiered levels
- Unlimited withdrawals without fees or penalties
- Protected up to a total of £85,000 by the Financial Services Compensation Scheme
Website: Ulster Bank
Read the Ulster Bank review
53. Virgin Money
- A popular and credible brand
- A large range of fixed and variable rate Cash ISAs
- Open and manage your account online 24/7
- Clear, easy-to-understand product information
- Transfers-in allowed
- Award-winning: Moneyfacts 2020
- Covered by the Financial Services Compensation Scheme
Website: Virgin Money
Read the Virgin Money review
54. Yorkshire Building Society
- The Yorkshire Building Society is the third largest building society in the UK, with its headquarters in Bradford, West Yorkshire
- A large range of fixed and variable rate Cash ISAs
- Detailed product information available on website
- A clear, easy to understand, easy to navigate website
- Fast easy online setup
- A member of the Building Societies Association
Website: Yorkshire Building Society
Read the Yorkshire Building Society review
What is a Cash ISA?
A Cash ISA works in much the same way as an ordinary savings account, except you do not pay tax on the interest you earn. This makes them an attractive option for anyone who normally pays tax on their savings.
There are two main types of Cash ISA: Variable and Fixed. Variable Cash ISAs pay variable rates of interest, which means that the interest you earn could go up or down. Variable Rate ISAs are flexible, which means that you can withdraw money from an ISA anytime and replace it later, without the replacement counting further towards your ISA allowance.
Fixed Rate ISAs, on the other hand, pay a fixed rate of interest for a set term, rather like a savings bond. However your money is locked away until maturity (when the fixed period comes to an end) and you cannot access it unless you are willing to pay a fee for early withdrawal. Fixed interest ISAs usually have better rates of interest than flexible ones for this reason.
How much money can I put into a Cash ISA?
You can save up to a maximum of £20,000 into a Cash ISA in the current tax year. This money will earn you tax-free interest on your savings. This has remained unchanged from the previous year. This £20,000 limit applies to each adult, so if you are married or have a civil partner you each have a £20,000 limit each year.
How many Cash ISAs can I have?
You can have multiple Cash ISAs, but you can open only one Cash ISA in each tax year. You are allowed to divide your annual allowance according to any proportion you like, which means you can split your yearly ISA allowance of £20,000 across the different types of ISA that you hold, should you wish to.
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