Best cash ISA rates UK 2024

Whether you want to lock cash in for a set time or keep it easy access, use our comparison table to find the best ISA with rates up to 5.25%.

Cash ISAs are savings accounts you'll never pay tax on. Just like a normal savings account, you can get cash ISAs that are easy access or fixed term. Use our comparison table below to see what rates they offer and read on to find out whether they're worth it.

FSCS logo
Is my money safe?

The Financial Services Compensation Scheme (FSCS) guarantees that it will step in to compensate the first £85,000 (£170,000 for a joint account) you have saved with a UK-authorised bank, building society or credit union in the event that the business goes bust.

Best cash ISA rates

Table: sorted by interest rate, promoted deals first
1 - 10 of 41
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Aldermore – 30 Day Notice Cash ISA Issue 12
4.5% AER variable
£1,000
Anniversary of account opening
30 days notice needed (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
Aldermore – 30 Day Notice Cash ISA Issue 12
4.5% AER variable
£1,000
Monthly
30 days notice needed (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
West Brom Building Society – WeBSave 60 Day Notice ISA (Issue 2)
West Brom BS – WeBSave 60 Day Notice ISA (Issue 2)
5.1% AER variable
£1
Yearly
60 days notice needed (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
West Brom Building Society – WeBSave 60 Day Notice ISA (Issue 2)
West Brom BS – WeBSave 60 Day Notice ISA (Issue 2)
5.1% AER variable
£1
Monthly
60 days notice needed (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
Furness Building Society – 90 Day Notice Cash ISA (Issue 1)
Furness BS – 90 Day Notice Cash ISA (Issue 1)
5.01% AER variable
£1,000
Yearly
90 days notice needed (charge applies )
FSCS logo
protected
Open via: branch, post
Go to site
View details
Earl Shilton Building Society – 180 Days Notice Cash ISA
Earl Shilton BS – 180 Days Notice Cash ISA
5% AER variable
£10
Yearly
180 days notice needed (charge applies )
FSCS logo
protected
Open via: branch, post
Go to site
View details
Teachers Building Society – Cash ISA Notice 120 (Issue 1)
Teachers BS – Cash ISA Notice 120 (Issue 1)
5% AER variable
£1,000
Yearly
120 days notice needed (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
Loughborough Building Society – 120 Day Notice Cash ISA
Loughborough BS – 120 Day Notice Cash ISA
4.75% AER variable
£3,000
Yearly
120 days notice needed (charge applies )
FSCS logo
protected
Open via: branch, post
Go to site
View details
Mansfield Building Society – eSaver 180 Day Notice Cash ISA (2nd Issue)
Mansfield BS – eSaver 180 Day Notice Cash ISA (2nd Issue)
4.6% AER variable
£500
Yearly
180 days notice needed (charge applies )
FSCS logo
protected
Open via: website
Go to site
View details
Hinckley & Rugby Building Society – 180 Day Notice Cash ISA
Hinckley & Rugby BS – 180 Day Notice Cash ISA
4.6% AER variable
£500
Yearly
180 days notice needed (charge applies )
FSCS logo
protected
Open via: branch, post
Go to site
View details
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What is a cash ISA?

A cash ISA is a savings account where you don’t pay tax on the interest you earn. It’s that simple! Everything you can do with a normal savings account you can do with a cash ISA. The tax-free bit is the only real difference.

In normal savings accounts, you’d get taxed on whatever you earned in interest. A cash ISA lets you keep 100% of the interest, which is why it has been a popular option among UK consumers for years.

Who can open an ISA?

Any person over 16 in the UK can put £20,000 into a cash ISA each tax year. Once your money is in a cash ISA, it stays tax-free year in year out.

What’s the “best” ISA?

Generally, the best ISA has the highest interest rate. But as with all things finance, there are different products suited for different needs.

  • If you want access to your money then the best for you is an easy access cash ISA.
  • If you’re happy to lock your money away for a fixed term then, you guessed it, a fixed rate cash ISA might be more up your street.
  • If you’re happy to put money aside for a long time, and are willing to take the risks that come with investing – you should check out stocks and shares ISAs.

Is my money safe in a cash ISA?

Most cash ISAs are completely protected by the Financial Services Compensation Scheme (FSCS), which means all deposits up to £85,000 per provider are guaranteed by the government.

The decline of the cash ISA

Since the EU referendum, the rates of British people putting their money into cash ISAs has halved.

The recent decline of the cash ISA isn’t just down to Brexit, however. There are a couple more important factors which are making the cash ISA less popular.

Personal savings allowance

In April 2016, the ISA was made a bit redundant. Under new government rules, basic-rate taxpayers don’t have to pay any tax on the first £1,000 of interest earned in banks. This is known as the ‘personal savings allowance‘ (PSA), and it has encroached on what used to be the territory of the cash ISA.

Isas vs inflation

You’d be hard pressed to find any cash ISAs which can beat inflation. We’re living through a period during which it is incredibly difficult for savers hoping to protect their nest eggs.

How are inflation and interest rates linked?

Generally speaking, when interest rates are low people tend to save less and to spend and borrow more. Let’s clarify this with an example:

At the time of writing, inflation in the UK is at 9.1%. Put simply, this means a basket of shopping costing £100 this year will cost £109.50 in a year’s time.

Now imagine you’ve also got £100 in a cash ISA paying 1.13%. That £100 will be £101.13p next year.

Because interest rates are low, there’s less incentive to save. If you’re not saving you’re more likely to spend, and you’re more likely to borrow too because it will be cheap to do so.

While recent numbers of people putting their money into ISAs has dipped, it is still a very popular way of holding on to savings. Check out our cash ISA statistics page to find out more about their popularity.

Are ISAs worth it?

Even though there are better rates available in different savings accounts and current accounts, ISAs still have their benefits.

  • ISA interest doesn’t count towards your PSA. You can make interest in your ISA and still get the £1,000 of tax free savings through your PSA.
  • ISAs give protection against future interest rate changes. If interest rates rise, people will have to pay more tax (in other savings accounts that aren’t tax-free). An ISA offers protection against this.
  • Protects savings if you move up a tax bracket. Having a cash ISA would ring fence your savings if you expect you might have to pay more tax in the not too distant future.
  • Interest rates won’t be low forever! When interest rates rise a bit more, the ISA should return as a more than viable option for those looking to grow their savings.

Which are the best cash ISAs at the moment?

Our best cash ISAs are the highest interest rates available. To get the latest rates, we use Moneyfacts data, which covers nearly the full market of savings products and is checked and updated daily. We don’t include accounts from private banks.

All the cash ISAs in our list have savings protection – for most, this is the Financial Services Compensation Scheme (FSCS). Other schemes include that of NS&I, which is 100% backed by HM Treasury, and the Gibraltar Deposit Guarantee Scheme.

  • Virgin Money – 1 Year Fixed Rate Cash ISA Exclusive Issue 11 - 5.25%
  • Chip – Chip Cash ISA (powered by ClearBank) - 5.1%
  • West Brom BS – WeBSave 60 Day Notice ISA (Issue 2) - 5.1%
  • Moneybox – Moneybox Cash ISA - 5.09%
  • Zopa – Smart ISA - Access ISA pot - 5.08%

An overview of our Cash ISA comparison

Number of accounts 502
Cash ISA types include Easy access, fixed-rate, notice
Best easy access cash ISA rate 5.1%
Best fixed-rate cash ISA rate 5.25%
Fixed-rate cash ISA terms 12 months - 7 years
Best notice cash ISA rate 5.1%
Minimum investment £1
Maximum investment £100,000
Opening options Branch, website, mobile app, post, telephone

Bottom line

Saving is always a wise idea, and if you can find an ISA account that suits your needs – for example, if you want to access your money quickly from a cash ISA, or you’re happy to take a punt on a stocks and shares ISA – then opening an account is worth considering.

But bear in mind that interest rates are pretty low right now, and so it’s most definitely worth looking at other savings options as well before you decide where to put your money away.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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