The best cash ISAs April 2024

We've researched the best cash ISA rates on the market

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

With the current tax year soon coming to an end, now is the time to make the most of your annual ISA allowance. We all get an allowance of up to £20,000 and any interest you earn on ISAs is tax free. This allowance will reset on 6 April, so anything you do not use by 5 April, you lose. 

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 for that period, 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.

Best easy access cash ISA rates

If you think you might 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.

Cynergy Bank Online ISA | 3.35% | Minimum deposit £1, maximum deposit of £20,000
Top easy access

<a href="" data-link-merchant=""" target="_blank" rel="nofollow">Cynergy Bank Online ISA | 3.35% | Minimum deposit £1, maximum deposit of £20,000

You can open and manage this account online. The 3.28% interest means you earn £32.80 on a £1,000 deposit. The interest rate is variable, so it may change over time.

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ProviderRate (AER)Min depositUnlimited withdrawalsFlexibleTransfers allowedHow to open
Cynergy Bank Online ISA3.35%£1YesNoYes (Only at time of opening account)Online
Leeds Building Society Easy Access ISA3.30%£1,000YesYesYesOnline
Shawbrook Bank Easy Access Cash ISA3.27%£1,000YesNoYesOnline
Charter Savings Bank Easy Access Cash ISA3.25%£5,000YesYesRow 3 - Cell 5 Online
Marcus by Goldman Sachs Cash ISA3.20%£1YesNoNoOnline
Santander eISA3.20%£500YesNoYesOnline, in branch or over the phone

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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ProviderRate (AER)Min depositTransfers allowedHow to open
Charter Savings Bank 1 Year Fixed ISA4.20%£5,000Yes (Only at the time of opening account)Online
Gatehouse Bank 1 Year Fixed Term Woodland Cash ISA 4.20%£1,000Yes (Within 30 days of opening account)Online
Cynergy Bank 1 Year Fixed ISA4.19%£500YesOnline
Shawbrook 1 Year Fixed ISA4.17%£1,000YesOnline
Close Brother Savings 1 Year Fixed Rate Cash ISA4.17%£10,000YesOnline or by post

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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ProviderRate (AER)Min depositTransfers allowedHow to open
Castle Trust Bank 2 Year Fixed Cash ISA4.30%£1,000YesOnline
Close Brothers Savings 2 Year Fixed Rate Cash ISA4.30%£10,000YesOnline or by post
Shawbrook 2 Year Fixed ISA4.28%£1,000YesOnline
Leeds Building Society 2 Year Fixed ISA4.26%£100YesOnline, by post or in branch
Nationwide Building Society 2 year fixed ISA4.25%£1YesOnline, by post or in branch

Best three-year fixed cash ISA rates

If you are 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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ProviderRate (AER)Min depositTransfers allowedHow to open
Virgin Money 3 Year Fixed Cash ISA4.26%£1YesOnline
Leeds Building Society 3 Year Fixed ISA4.20%£100YesOnline, by post or in branch
Gatehouse Bank 3 Year Fixed Term Woodland Cash ISA4.20%£1,000YesOnline

What is the ISA allowance?

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You can put up to £20,000 in a cash ISA for this tax year and anyone over the age of 16 years 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.

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Vaishali Varu
Staff Writer

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