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Cash ISAs /

What is a Cash ISA?

Find out more about Cash ISAs
Deposit Cash ISAs

The Callable Deposit Plan

from IDAD

ISA Option
Maximum Potential Return 10.00% pa or 2 x FTSE growth
  • Deposit Taker: Goldman Sachs International Bank
  • Term: Up to 8 years

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

  • Plan can be ended early by Deposit Taker
  • 2.5% per quarter (10% pa) if plan ends early
  • 2 x FTSE 100 Index growth if plan runs full term
  • Capital protected product*
  • Eligible for the Financial Services Compensation Scheme (FSCS)
  • If plan runs full term returns not guaranteed. You may only receive a return of your original capital
  • Minimum investment £10,000
  • If you withdraw your money during the plan you may get back less than you originally invested

Important Information: * The return of your initial deposit depends on the ability of the deposit taker (Goldman Sachs) to repay your money. Structured deposits offer you the potential to earn higher returns than you would with a regular savings account. Your returns are based on the performance of an index or commodity. If the investment does not perform well you may receive no income or capital growth, but you can be confident that your capital will be repaid. You have no access to your deposit during the term of the account, typically 3 to 6 years but your original capital will be repaid in full at the end of the term. In the event that the deposit taker is unable to repay your initial investment and any returns stated you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) depending on your individual circumstances.

Fixed Rate Cash ISAs

7 Year Fixed Rate Cash ISA

from Shawbrook Bank

Interest Rate (AER) 1.45%
  • Term: 7 Years
  • Interest can be paid monthly or annually
  • ISA transfers in allowed
  • £250,000 maximum balance
  • FSCS Protected
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

5 Year Fixed Rate Cash ISA

from Shawbrook Bank

Interest Rate (AER) 1.30%
  • Term: 5 Years
  • Interest can be paid monthly or annually
  • ISA transfers in allowed
  • £250,000 maximum balance
  • FSCS Protected
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

3 Year Fixed Rate Cash ISA

from Shawbrook Bank

Interest Rate (AER) 0.95%
  • Term: 3 Years
  • Interest can be paid monthly or annually
  • ISA transfers in allowed
  • £250,000 maximum balance
  • FSCS Protected
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

2 Year Fixed Rate Cash ISA

from Shawbrook Bank

Interest Rate (AER) 0.90%
  • Term: 2 Years
  • Interest can be paid monthly or annually
  • ISA transfers in allowed
  • £250,000 maximum balance
  • FSCS Protected
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

1 Year Fixed Rate Cash ISA

from Shawbrook Bank

Interest Rate (AER) 0.85%
  • Term: 1 Year
  • Interest can be paid monthly or annually
  • ISA transfers in allowed
  • £250,000 maximum balance
  • FSCS Protected
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)
Easy Access Cash ISAs

Instant ISA Saver

from Nationwide

Interest Rate (AER) up to 0.05%
  • Term: Instant Access
  • Instant access
  • 0.01% interest on balances between £1 and £9,999, 0.03% on balances between £10,000 and £49,999, 0.05% on balances of £50,000 and above
  • Minimum deposit £1
  • Open and manage your account online or in branch
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be 16 or older
  • Must be UK resident

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

What is a Cash ISA?

A Cash ISA is a way for you to save a set allowance per year in a useful tax-free wrapper. While you can only have one of each kind of ISA per year, you can split your allowance between the three kinds of ISA: Cash, Stocks and Shares and Innovative Finance.

Why have a Cash ISA?

There are many benefits to owning a Cash ISA. We’ve listed a few below:

There’s no income tax: this is perhaps the most obvious advantage. ISAs are tax-free meaning you can save on top of the Personal Savings Allowance

Flexible Access to your money: unless you have fixed rate account which tend to be more strict about withdrawals, you should be able to access your money quickly and easily

Ability to transfer: ISA providers have to let you transfer, although they could charge a fee for doing so. As long as the account you’re planning to move to accepts transfers, then you can keep on top of your savings goals by making sure your money is always in an account that’s working hard for you

How Much Will I Save with a Cash ISA?

Whatever your savings goals and whatever tax bracket you fall in to, you can pay 0% on any of the money held within the Cash ISA wrapper.

This sounds good but does it actually mean?

Simply: if you are a standard 20% tax-payer then you would usually pay 20% tax on your savings about the personal savings allowance; if you’re a higher rate taxpayer then you can expect to pay 40%.

By using your cash ISA allowance can therefore save you money by allowing you to keep 100% of any interest you earn.

What you save does depend on your individual circumstances and may be subject to change in the future.

Can I Transfer my Old ISA?

Usually, but It does depends on your circumstances. For example, if you have some money saved as a lump sum from a previous tax year, then you'll normally be permitted to transfer this from one cash ISA to another, or to a stocks and shares ISA. This transfer shouldn't affect your ISA investment allowance for the current tax year.

What Cash ISA Should I Choose?

Choosing between a fixed rate ISA and an Instant Access ISA can be tough.

An instant access cash ISA might be the right choice for you if:

  • You would like a good rate of interest, plus the ability to get hold of your money quickly if necessary
  • You need to take advantage of your annual tax-free savings allowance but only have a small amount to deposit - instant access ISAs can usually be opened from as little as £1
  • You want to be paid regular interest as instant access ISAs usually offer monthly or quarterly interest

A fixed-rate cash ISA might be right for you if:

  • You are happy to put your money aside for a set period of time - this usually allows you to accrue a higher rate of interest than you might get with an instant access cash ISA
  • You want to take advantage of your tax-free savings allowance and have a lump sum to deposit - many fixed-rate cash ISAs require an initial deposit of around £1000

You can use our services and tables to help you choose the right option for you.

Top tips for making the most of your cash ISA

  • You can only have one type of cash ISA in each financial year, so research your options carefully. Whether you choose a fixed-rate or instant access cash ISA, give some thought to your savings goals beforehand to help you determine what's right for you.
  • Remember that you can't carry your tax-free allowance over from one financial year to the next - so if you've got enough cash to hit your limit, stash it in an ISA.
  • Because a cash ISA operates on a year-long basis, it's a good way to try your hand at saving without committing yourself to anything long-term. It's also a great way to save for a specific event like a wedding, holiday, or starting a family.
  • Once you've set up your cash ISA, make sure you still keep an eye on the interest rates available from other providers. You may be able to switch cash ISA providers without incurring a charge.
  • To make life easier, set up a direct transfer from your current account into your cash ISA to make sure that you put aside a certain amount each month without fail.
  • Don't forget that you've got the option of opening a stocks and shares ISA, too. For more on this, see our page on stocks and shares ISAs.
Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.

High Income ISAs

High income ISA ideas:

ISAs Products

Cash ISAs

Fixed Rate & Instant Access ISAs:

Cash ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

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