The best cash ISA rates this week

The best easy access cash ISA rates

Moneybox retains the lead position on our easy access ISA chart with its Moneybox Cash ISA paying an appealing 5.71% AER on anniversary. However, savers should note that this rate includes a bonus of 1.51% AER for three months, after which the rate will drop to 4.20% AER. This ISA, which is available online or via the Moneybox app, requires a £500 minimum opening deposit and pays a lower rate of 0.75% AER if the balance drops below this figure. This lower rate also applies if savers make more than three withdrawals from their account within 12 months, so it’s important to think carefully if you want to dip in and out of your savings.

Trading 212 cut the rate on its Cash ISA Promo Rate this week to 4.83% AER, including a 0.73% AER bonus for 12 months, but it still sits in second position on our easy access ISA chart. To access this rate, savers can apply for the account online or via mobile app through Moneyfactscompare.co.uk and deposit at least £1, but they need to do this before 14 May 2025. Once open, savers can manage their account via the same means, and, unlike Moneybox, the account allows unrestricted, penalty-free withdrawals. Furthermore, as a flexible ISA, savers can replace any funds they’ve withdrawn without affecting their annual ISA allowance.

After Plum cut rates at the end of last week, Moneybox’s Open Access Cash ISA now moves into third position on our easy access ISA chart, even though this account also saw a recent rate reduction. This ISA now pays 4.82% AER on anniversary, and savers should bear in mind that this includes a 12-month bonus of 0.82% AER. Savers can open this ISA online or via mobile app with a minimum deposit of £500 and can continue to manage it via the same means. Unlike Moneybox’s market-leading ISA, there are no restrictions on how often savers can withdraw from their account, although they should consider that flexible ISA rules won’t apply.

Before opening any of the above accounts, it’s worth checking providers’ partner banks to find out whether your money will be covered by the Financial Services Compensation Scheme (FSCS).

The best fixed cash ISA rates

In the wake of the cut to the base rate last week, most of the leading fixed ISA rates have dropped significantly.

Four providers now pay the market-leading one-year fixed ISA rate of 4.25% AER. The One Year Fixed Rate Cash ISA - Issue 118 from Kent Reliance pays this rate monthly or on maturity on a minimum of £1,000. Savers can open this account online or by visiting a branch and subsequently manage it in branch, by phone or by post. Unlike many other fixed ISAs, savers can add to their account during the term (via cash, cheque or bank transfer) but any ISA transfer requests must be made within 30 days of account opening. If savers want to withdraw from their ISA before the end of the term, this will be subject to a 90-day loss of interest. Note the available methods of withdrawal depend on how the account is opened.

If savers prefer to keep their money with a high street bank, Santander pays 4.25% AER yearly until 1 June 2026 on its 1 Year Fixed Rate ISA. It requires a minimum opening deposit of £500 and allows further contributions and internal ISA transfers until 30 June 2025. If you transfer in from an external provider, requests must be received within 14 days of opening. Savers can open this ISA online, by mobile app or in branch and subsequently manage it in branch or via phone. Access to funds before the end of the term is only allowed on closure of the account, subject to a 120-day loss of interest penalty.

Alternatively, State Bank of India’s Cash ISA Fixed Deposit also pays 4.25% AER on maturity on a minimum of £1,000. Savers can open this account in branch or via post but should note that they will need to have or open a current account or savings account with the provider to be eligible. Once open, savers can manage this ISA online, in branch or via post and, while further deposits aren’t permitted, access before the end of the term is allowed subject to a 90-day loss of interest.

Finally, Vida Savings pays the same rate of 4.25% AER monthly or on anniversary on its 1 Year Fixed Rate ISA. This ISA requires a minimum opening deposit of £100, allows additional deposits for 21 further days via a nominated account, and permits earlier access to funds (subject to a 90-day loss of interest). Savers can open this ISA online and manage it online or via mobile app.

For a two-year fixed ISA, Cynergy Bank pays the lead rate of 4.17% AER on anniversary on its Fixed Rate Cash ISA. Savers can open this ISA online by depositing a minimum of £500 and can then choose to manage it online, by phone or by post. If savers want to make any further deposits after opening, they can only add to the provider’s Variable Rate Cash ISA. Meanwhile, earlier access to funds is only permitted on account closure with a 180-day loss of interest. Bear in mind that the Cynergy Bank Authenticator App or Digipass is required to use online banking.

Castle Trust Bank also pays 4.17% AER on its two-year fixed ISA, as well as paying the market-leading five-year fixed ISA rate of 4.15% AER.

The Fixed Rate e-Cash ISAs from Castle Trust Bank pay interest on maturity on a minimum of £1,000. Savers can make further deposits for 14 days after opening and, if they want to access their funds before the end of the term, they will have to close their account and incur a 180 days’ (two-year) or 360 days’ (five-year) loss of interest penalty. These accounts can be opened online or by phone and managed online or via mobile app.

Close Brothers Savings also pays the market-leading five-year ISA rate of 4.15% AER yearly on its 5 Year Fixed Rate Cash ISA. This ISA asks for a minimum deposit of £10,000 and allows further deposits and requests to transfer in from another ISA for 10 days after opening, but earlier access to funds is subject to account closure and a penalty charge of 365 days’ interest. Savers can open this ISA online and manage it online, by phone or by post.

Unlike the other fixed terms, the market-leading three-year fixed ISA rate remains at 4.20% AER. It is offered by Ford Money’s online-only Fixed Cash ISA 3 Year, which pays interest monthly or on anniversary on a minimum opening deposit of £500. Savers can add to this ISA for 21 days after opening via a nominated account and, while they can access their money before the end of the term, this will be subject to a 270-day loss of interest penalty.

The best notice cash ISA rates

Despite the recent cut to the base rate, there’s been no change in the top notice ISA rates.

Harpenden BS pays 4.24% AER yearly on its Online 14 Days' Notice ISA Account (Issue 1) to lead our 30-day notice ISA chart. This online-only account requires a minimum opening deposit of £1,000 and allows savers to add to their savings without restriction. When it comes to withdrawals, savers have to wait a 14-day notice period before accessing their funds; earlier access isn’t permitted. Note that withdrawals can only be made via a nominated account.

Alternatively, Tipton & Coseley BS pays a higher 4.50% AER yearly to lead our 60-day notice ISA chart. The provider offers a 60 Day Notice ISA and 60 Day Notice ISA (Mobile App Account) that both pay this rate on a minimum deposit of £1,000. Both accounts allow further deposits and, if savers need to make any withdrawals without waiting for the 60-day notice period, this is allowed subject to a 60-day loss of interest. Withdrawals must be a minimum of £500.

The difference between these accounts is in their opening and management methods. The 60 Day Notice ISA is available to open and manage in branch or via post (and can also be managed by phone). Savers can only withdraw from this account via cheque. Meanwhile, the 60 Day Notice ISA (Mobile App Account) is available via the provider’s mobile app and also gives savers the option to manage their savings by phone. This ISA requires all deposits and withdrawals to be made via a nominated account.

Bear in mind that the leading easy access cash ISAs continue to pay higher rates of interest than these top notice ISAs.