The best cash ISA rates September 2022

A cash ISA can help your money grow tax-free. We tell you the best cash ISA rates on the market

Cash ISA rates making money grow
(Image credit: Getty Images)

You can get different types of ISAs but it all comes down to how long you want to save for. All ISAs allow you to save tax-free just like regular savings accounts

When deciding which cash ISA is best for you, there are three important factors to consider:

  1. How long to save for
  2. The interest rate
  3. Could a best savings account be a better option?

Think about how easily you want to access your money. ISAs vary from easy access which has no penalty fee on withdrawals, and then there's one to three fixed ISAs where your money is locked in, so there will be a penalty fee on withdrawals. The longer the term of your ISA, the better the return. 

Always take into account your financial position as this will help you decide how long you want to lock your money in for. Think about emergency money that you may need to access too.

We have put together the top cash ISAs with the best interest rates. The rates listed have been curated from the latest data provided by Defaqto (opens in new tab).

Last updated 29/09/2022

Best easy access cash ISA rates

If you think you may need to access your money at any given time within 12 months, then an easy access account is best for you. The rates are lower, but you have more flexibility. This is what’s on offer right now.

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Top rate

Santander eISA (opens in new tab) | 1.85% | Minimum deposit, £500, maximum deposit of £20,000 

This easy access cash ISA can be opened in a branch, online or via phone and it can be managed online or over the phone. The 1.85% interest means you earn £18.50 on a £1,000 deposit. The interest rate is variable, so it may change over time. This is an easy access account so there are no penalties for withdrawals.

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Marcus by Goldman Sachs Cash ISA (opens in new tab) | 1.80% | Minimum deposit, £1, maximum deposit of £20,000

This easy access cash ISA can be opened online and managed online or over the phone. The 1.80% interest means you earn £18 on a £1,000 deposit. The interest rate is variable, so it may change over time. This is an easy access account so there are no penalties for withdrawals. 

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Saga Cash ISA (opens in new tab) | 1.80% | Minimum deposit, £1, maximum deposit of £20,000

This easy access cash ISA can be opened online and managed online or over the phone. The 1.80% interest means you earn £18 on a £1,000 deposit. The interest rate is variable, so it may change over time. This is an easy access account so there are no penalties for withdrawals. 

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Ecology Building Society Cash ISA (opens in new tab) | 1.70% | Minimum deposit, £25, maximum deposit of £20,000

This easy access cash ISA can be opened online or by post and can be managed in the same way. The 1.70% interest means you earn £17 on a £1,000 deposit. The interest rate is variable, so it may change over time. This is an easy access account so there are no penalties for withdrawals. 

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Cynergy Bank Online ISA (opens in new tab) | 1.65% | Minimum deposit, £1, maximum deposit of £20,000

This easy access cash ISA can be opened and managed online with only. The 1.65% interest means you earn £16.50 on a £1,000 deposit. The interest rate is variable, so it may change over time. This is an easy access account so there are no penalties for withdrawals. 

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Ford Money Cash ISA (opens in new tab) | 1.65% | Minimum deposit, £1, maximum deposit of £20,000

This easy access cash ISA can be opened online only and managed online or via the app. The 1.65% interest means you earn £16.50 on a £1,000 deposit. The interest rate is variable, so it may change over time. This is an easy access account so there are no penalties for withdrawals. 

Best one-year fixed cash ISA rates

These are the current top fixed rate cash ISAs for one year. If you take your money out before the 12-month period, then you will be subject to a penalty.

Some may also require you to have a current account or a large minimum deposit to benefit from the linked cash ISA rate.

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Newcastle Building Society 1 Year Fixed Rate Cash ISA (opens in new tab) | 3.60% | Minimum deposit £500, maximum deposit £20,000 

You can open this account online or in branch and it can be managed in branch, over the phone, by post or online.. Interest must be compounded. The 3.60% interest means you earn £36 on a £1,000 deposit at the end of the year term.

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Kent Reliance 1 Year Fixed Rate Cash ISA (opens in new tab)| 3.20% | Minimum deposit £1,000, maximum deposit of £20,000 

This 1 year fixed ISA can be opened online, in branch or via post and can be managed by post, over the phone, online or in branch. Interest earned through this account is compounded. The 3.20% interest means you earn £32 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. 

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Virgin Money 1 Year Fixed Rate Cash ISA (opens in new tab) | 3.07% | Minimum deposit £1, maximum deposit is unlimited 

You’ll have to open and manage this savings account online. Interest must be compounded. The 3.07% interest means you earn £30.07 on a £1,000 deposit at the end of the one-year term. 

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Leeds Building Society 1 Year Fixed Rate Cash ISA (opens in new tab)| 3.05% | Minimum deposit £100, maximum deposit of £20,000 

This 1 year fixed ISA can be opened online, in branch or via post and can be managed by post or in branch. Interest earned through this account is compounded. The 3.05% interest means you earn £30.50 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. To open this account, you have until 31st October 2022. 

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Santander 1 Year Fixed Rate Cash ISA (opens in new tab) | 3% | Minimum deposit, £500, maximum deposit of £20,000 

This one year fixed term ISA can be opened in a branch, online or via phone and it can be managed online or over the phone. The 3% interest means you earn £30 on a £1,000 deposit. 

Best two-year fixed cash ISA rates

If you can lock away for a bit longer, you can earn a bit more interest. These are currently the best rates for two year fixes. 

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Newcastle Building Society 2 Year Fixed Rate Cash ISA (opens in new tab) | 4.10% | Minimum deposit £500, maximum deposit £20,000 

You can open this account online or in branch and it can be managed in branch, over the phone, by post or online.. Interest must be compounded. The 4.10% interest means you earn £83.68 on a £1,000 deposit at the end of the two-year term.

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Secure Trust Bank 2 Year Fixed Rate Cash ISA (opens in new tab) | 3.40% | Minimum deposit £1,000, maximum deposit of £20,000 

This 2 year fixed ISA can be opened online and managed online or over the phone. Interest earned through this account can either be compounded or paid away. The 3.40% interest means you earn £69.16 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA.

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Virgin Money 2 Year Fixed Rate Cash ISA (opens in new tab) | 3.32% | Minimum deposit £1, maximum deposit is unlimited 

You’ll have to open and manage this savings account online. Interest must be compounded. The 3.32% interest means you earn £67.50 on a £1,000 deposit at the end of the two-year term. 

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UBL UK 2 Year Fixed Rate Cash ISA (opens in new tab) | 3.31% | Minimum deposit £2,000, maximum deposit of £20,000 

This 3 year fixed ISA can be opened by post, branch or online and it can be managed in branch or via post.. Interest earned through this account can either be compounded or paid away. The 3.31% interest means you earn £67.29 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. 

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Leeds Building Society 2 Year Fixed Rate Cash ISA (opens in new tab) | 3.30% | Minimum deposit £1, maximum deposit of £20,000 

This 2 year fixed ISA can be opened online, in branch or via post and can be managed by post or in branch. Interest earned through this account is compounded. The 3.30% interest means you earn £67.08 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. 

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Kent Reliance 2 Year Fixed Rate Cash ISA (opens in new tab) | 3.30% | Minimum deposit £1,000, maximum deposit of £20,000 

This 2 year fixed ISA can be opened online, in branch or via post and can be managed by post, over the phone, online or in branch. Interest earned through this account is compounded. The 3.30% interest means you earn £67.08 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. 

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Yorkshire Building Society 2 Year Fixed Rate Cash ISA (opens in new tab) | 3.25% | Minimum deposit, £100, maximum deposit of £20,000

This 2 year fixed term ISA can be opened and managed online only. The 3.25% interest means you earn £66.05 on a £1,000 deposit at the end of the two years. 

Best three-year fixed cash ISA rates

If you’re saving for something at least three years into the future, then you can get slightly more by fixing your cash ISA for three years. Again, be sure you don’t need the cash sooner to avoid penalty charges. 

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Virgin Money 3 Year Fixed Rate Cash ISA (opens in new tab)| 3.52% | Minimum deposit £1, maximum deposit of £20,000 

This 3 year fixed ISA can be opened and managed online only. Interest earned through this account can either be compounded or paid away. The 3.52% interest means you earn £109.36 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. 

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UBL UK 3 Year Fixed Rate Cash ISA (opens in new tab) | 3.51% | Minimum deposit £2,000, maximum deposit of £20,000 

This 3 year fixed ISA can be opened by post, branch or online and it can be managed in branch or via post.. Interest earned through this account can either be compounded or paid away. The 3.51% interest means you earn £109.04 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. 

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Yorkshire Building Society 3 Year Fixed Rate Cash ISA (opens in new tab) | 3.50% | Minimum deposit £100, maximum deposit of £20,000 

This 3 year fixed ISA can be opened and managed online only. Interest earned through this account can either be compounded or paid away. The 3.50% interest means you earn £108.72 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. 

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Secure Trust Bank 3 Year Fixed Rate Cash ISA (opens in new tab) | 3.50% | Minimum deposit £1,000, maximum deposit of £20,000 

This 3 year fixed ISA can be opened online and managed online or over the phone. Interest earned through this account can either be compounded or paid away. The 3.50% interest means you earn £108.72 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA.

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Leeds Building Society 3 Year Fixed Rate Cash ISA (opens in new tab) | 3.30% | Minimum deposit £100, maximum deposit of £20,000 

This 3 year fixed ISA can be opened online, in branch or via post and can be managed by post or in branch. Interest earned through this account can either be compounded or paid away. The 3.30% interest means you earn £102.30 on a £1,000 deposit over the duration of the account. Withdrawals are not allowed during the term of the ISA. To open this account, you have until 31st October 2022. 

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Hodge Bank 3 Year Fixed Rate ISA (opens in new tab) | 3.18% | Minimum deposit £1,000, maximum deposit £20,000

You can open and manage this account online only. The 3.18% interest rate means you earn £91.13 on a £1,000 deposit at the end of the account’s term. Withdrawals are not permitted. 

What is the ISA allowance?

You can put up to £20,000 (opens in new tab) in a cash ISA for this tax year and anyone over the age of 16 is entitled to open an account (check specific ISA accounts as some are restricted to 18 years). You can move your cash ISA into a stocks and shares ISA at a later stage if you want to potentially get better returns.

It’s a good idea to use as much of your ISA allowance as you can, as the tax year runs from 6 April to 5 April. Therefore any allowance in your ISA that you don’t use is lost each year.

DO I NEED A CASH ISA?

All basic rate taxpayers can earn up to £1,000 interest in savings before it's taxed (higher taxpayers £500). Fewer than one in 20 people get close to the limit - so for most of us there's not much practical cash ISA benefit.

Instead the interest rate is what counts, and cash ISAs typically pay less than normal savings. It’s a good idea to take a look at our best savings accounts before making a decision.

Vaishali graduated in journalism from Leeds University. She has gained experience writing local stories around Leeds and Leicester, which includes writing for a university publication and Leicester Mercury. 

She has also done some marketing and copywriting for businesses.

When she is not writing about personal finance, Vaishali likes to travel and she's a foodie.

With contributions from