Best Cash ISA Rates This Week (2024) (2024)

Last updated: 4 June 2024 at 13:40

ISA deposits hit record high in April as current leading rates remain stable.

This year’s ISA season had savers depositing £11.7 billion into cash ISAs in April 2024, the highest amount since ISAs were introduced in 1999, according to the latest data from the Bank of England.

The increased activity during this period saw providers regularly increasing rates and launching new products in attempts to attract savers looking to use up their remaining ISA allowance before the end of the tax-year.

Now that the season is over, rates have stabilised, but can still offer competitive returns for those looking to benefit from tax-free savings.

Read More: Savers deposit record sums in cash ISAs in April

Below, you’ll find the providers that currently offer the best returns on easy access, fixed and notice ISAs.

These products are available to new customers with a deposit of £10,000. Note that higher rates may be available to existing customers or those who are willing to save more than £10,000.

You can visit our charts to compare the whole of the ISA market.

• 

  Plum

  

  Account: Plum Cash ISA

  Notice: None

  Rate: 5.17% AER (Includes a bonus)

  Transfers In: Cash ISA, Stocks and Shares ISA, Cash APS ISA, Stocks and Shares APS ISA, Help to Buy ISA, Innovative Finance ISA, Cash LISA, Stocks and Shares LISA

  Go to Provider's Site

• 

  Chip

  

  Account: Chip Cash ISA (powered by ClearBank)

  Notice: None

  Rate: 5.10% AER

  Transfers In: N/A

  Go to Provider's Site

• 

  Zopa

  

  Account: Smart ISA - Access ISA pot

  See Also

  ISA Investment whilst non resident - Community ForumBest Cash ISAs | Up to 5.1% Interest Rate | money.co.ukISAs ExplainedISA vs savings account - What are the differences and which is best? | Freetrade

  Notice: None

  Rate: 5.08% AER (Includes a bonus)

  Transfers In: Cash ISA

  Compare Easy Access ISAs

Those searching for the best easy access ISA returns can again look to Plum this week. Its app-exclusive Plum Cash ISA pays a leading 5.17% AER when considering a 12 month bonus of 0.88% AER applied on the first anniversary. You can open this account from £1, but keep in mind that balances under £100, or making over three withdrawals in the space of a year, will mean a lower rate of 3.00% AER will be applied. While this account allows transfers in from a range of other ISAs, this means the bonus rate won’t apply, resulting in an underlying rate of 4.29% AER.

Chip’s Chip Cash ISA (powered by ClearBank) offers the next best returns of 5.10% AER paid monthly. A fellow app-based account, this ISA can be opened from £1, with unlimited penalty-free withdrawals allowed. While transfers in are not permitted, this ISA is flexible, meaning funds can be withdrawn and replaced without affecting your ISA allowance.

Taking the third spot on our chart, Zopa’s Smart ISA - Access ISA pot continues to pay 5.08% AER monthly, including a 0.50% AER bonus for the first 12 months. The account can be opened and managed via Zopa’s app, but you’ll need to open or already have a Smart Saver account through the provider’s Smart Savings hub to be eligible. You can regularly add and withdraw from your pot with both additional contributions and penalty-free withdrawals permitted, so long as both are via a nominated account.

• 

  Virgin Money

  

  Account: 1 Year Fixed Rate Cash ISA Exclusive Issue 13

  Notice/Term: 30 June 2025

  Rate: 5.05% AER

  Transfers In: Cash ISA, Stocks and Shares ISA

  Compare One Year Fixed Rate ISAs

• 

  State Bank of India

  

  Account: 2 Year Cash ISA Fixed Deposit

  Notice/Term:Two Year Bond

  Rate: 4.65% AER

  Transfers In: Cash ISA

  Compare Two Year Fixed Rate ISAs

• 

  Shawbrook Bank

  

  Account: 3 Year Fixed Rate Cash ISA Bond Issue 56

  Notice/Term: Three Year Bond

  Rate: 4.44% AER

  Transfers In: Cash ISA, Stocks and Shares ISA

  Go to Provider's Site

• 

  See Also

  Using pensions and ISAs to reduce your tax bill

  State Bank of India

  

  Account: 5 Year Cash ISA Fixed Deposit

  Notice/Term: Five Year Bond

  Rate: 4.15% AER

  Transfers In: Cash ISA

  Compare Five Year Fixed Rate ISAs

Virgin Money has increased the term and the issue number of its 1 Year Fixed Rate Cash ISA Exclusive Issue 13, which continues to offer the best returns on our one-year ISA chart. The account, which still pays 5.05% AER, upon maturity on 30 June 2025, can be opened in branch or online and additionally managed by phone, post or via app. Bear in mind you’ll need to be a new or existing current account holder with Virgin Money from 4 December 2019, or a customer who originally opened a Clydesdale Bank, Yorkshire Bank or B current account to be eligible. Those who qualify can continue to make contributions to their funds while the issue remains open, while early access is subject to a 60-day loss of interest penalty.

Again, leading our two- and five-year fixed ISA charts, State Bank of India offers the most competitive rates on both its 2 and 5 Year Cash ISA Fixed Deposits. Paying 4.65% AER and 4.15% AER respectively, both ISAs can be opened in branch or by post; they can then be additionally managed online. While the two year account will need an initial investment of £1,000, note the longer term variant will need a more substantial £5,000 to open. Early access is permitted but only by giving 30 days’ notice and upon closure of the account. Keep in mind that no interest is paid if you close the ISAs within a year of opening, with a 1% loss applied for closure beyond this period.

Shawbrook Bank has increased the rate of its updated 3 Year Fixed Rate Cash ISA Bond Issue 56 to remain at the top of its sector this week, now paying 4.44% AER either monthly or on anniversary. With a minimum balance of £1,000, you’ll be able to make further additions to your pot, but early access will incur a substantial 270-day loss of interest penalty. You can open this account online and manage it the same way, or over the phone if you prefer.

Compare the best fixed rate ISAs

• 

  Aldermore

  

  Account: 30 Day Notice Cash ISA Issue 12

  Notice: 30 Days

  Rate: 4.50% AER

  Transfers In: Cash ISA, Stocks and Shares ISA, Help to Buy ISA, Cash APS ISA

  Go to Provider's Site

• 

  West Brom BS

  

  Account: WeBSave 60 Day Notice ISA (Issue 2)

  Notice: 60 Days

  Rate: 5.10% AER

  Transfers In: Cash ISA, Stocks and Shares ISA, LISA, Stocks and Shares LISA, Help to Buy ISA, Innovative Finance ISA, Cash APS ISA, Stocks and Shares APS ISA

  Compare Notice ISAs

With no change across the top of our notice ISA chart, Aldermore remains in pole position in its sector with its 30 Day Notice Cash ISA Issue 12. This online-only flexible ISA pays a leading 4.50% AER either monthly or on anniversary on a minimum investment of £1,000. Further contributions are permitted but early access is subject to a 30 days’ loss of interest.

Meanwhile, West Brom BS again tops the 60-day notice bracket. Its WeBSave 60 Day Notice ISA (Issue 2) operates entirely online and offers 5.10% AER yearly or monthly on a £1 initial deposit. This account allows further additions, but early access is subject to a 60-day loss of interest penalty.

Compare the best notice ISAs

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