Image of Ella Mower

Ella Mower

Senior Content Writer
Published: 14/06/2024
Letters spelling ISA on stacks of coins

Trading 212 is the latest digital provider to offer a top rate.


Although we’re already two months into the 2024/25 tax-year, top ISA returns are proving resilient well beyond their peak season. Despite the average rate paid by an easy access ISA continuing to fall from 3.38% in April to 3.31% at the start of this month, the market-leading rate in this sector rose to 5.20% AER after Trading 212 recently unveiled its new Cash ISA.


Trading 212's Cash ISA


  • Trading 212

    Account: Cash ISA

    Notice: None

    Rate: 5.20% AER

    Transfers In: Cash ISA, Stocks and Shares ISA, Cash APS ISA, Stocks and Shares APS ISA


Following its launch last month, the Cash ISA from Trading 212 offers the best rate on our easy access ISA chart at 5.20% AER.

This account can be opened and managed either online or via Trading 212’s mobile app with no minimum deposit required. Once established, further additions are permitted without restriction (as is the case for most easy access accounts), while unlimited penalty-free access to your cash is also allowed. What’s more, as a flexible ISA, you have the added benefit of being able to replace any withdrawn funds without it counting towards your annual ISA allowance.

When considering these factors, the account could make “a great choice for savers who want complete flexibility with deposits and withdrawals”, according to Rachel Springall, Finance Expert at

“The rate is paid on any balance up to the full ISA allowance of £20,000, so it’s transparent and has no tiered rates. The interest is also paid daily, so every day a saver would receive interest that then accrues additional interest,” she added.

Furthermore, savers can have peace of mind knowing the Financial Services Compensation Scheme (FSCS) protects funds held in this account just the same as the UK’s biggest banks. However, it’s important to remember that an £85,000 limit applies to balances held under one banking licence. Before applying, you’ll therefore need to check Trading 212’s partner banks to ensure your deposit will be covered. At the time of writing, this includes JPMorgan, NatWest and Barclays.


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Digital providers dominate

Meanwhile, the next best rates on our easy access ISA chart have remained fairly steadfast since the start of the new tax-year despite the decline in average rates; they are all also offered by digital providers.

The Plum Cash ISA pays 5.17% AER and operates solely via the Plum mobile app. This headline rate is inclusive of a 0.88% AER bonus for the first 12 months and only applies to balances over £100. It should also be noted you’ll receive a lower rate if more than three withdrawals are made per year, meaning it may not be best suited to those who regularly dip into their savings pot.

Alternatively, Chip provides a competitive rate of 5.10% AER with its Chip Cash ISA (powered by ClearBank), while Zopa’s Smart ISA – Access ISA pot offers 5.08% AER when taking into consideration the 0.50% bonus included for 12 months. Both of these accounts can be opened and managed via the respective providers’ mobile banking apps. Further details are available in our weekly ISA roundup or on our dedicated ISA charts.


Looking for a more traditional account?

If you’d prefer a savings account or ISA that can be operated by more traditional means (such as in branch, by post or over the phone), you can filter accounts by opening and management methods by selecting ‘full search’ on our charts.


The fixed ISA market

It’s a similar story on our fixed ISA chart; while average rates in this sector also fell month-on-month, Virgin Money continues to occupy top spot with a one-year ISA paying 5.05% AER.

However, it faces renewed competition, with the likes of Castle Trust Bank, OakNorth Bank and Shawbrook Bank increasing selected rates over recent weeks.

For a complete overview of the ISA markets, visit our charts.



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