The best cash ISAs – September 2023

Easy access and notice ISA rates are now at their highest since 2009. Here are the best cash ISAs on the market today.

Seedling growing out of a jar of coins
(Image credit: © Getty Images)

The rates on cash ISAs – including easy access and notice ISAs – have improved alongside savings accounts as of late thanks to a series of interest rate hikes by the Bank of England (BoE), as well as increased competition in the sector.

But, BoE has frozen interest rates at 5.25%, and while some analysts predict that interest rates could rise further to get inflation down, others are saying this could be an end to consecutive rate rises. If so, you will need to act fast to get the top rates, before they get pulled. 

While MW readers know too well a stocks and shares ISA may serve you well for long-term savings, for anyone looking to hold on to cash for the short-term or held back by the market volatility, a cash ISA may make good sense.

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You can also park your cash within your investment ISA, but MoneyWeek recently revealed that interest rates on these platforms can be dismal, so grabbing a higher rate on cash ISA can be a good idea if you have yet to make use of this year’s £20,000 allowance.

To help you, we have rounded up the best cash ISA rates on the market today.

The best cash ISAs: easy access

Easy access cash ISAs do what they say on the tin, letting you access your savings without penalty.

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ACCOUNTAERMINIMUM INVESTMENTFLEXIBLE ISANOTES
Leeds Building Society Limited Issue Online Access ISA4.8%£1,000YOpen online
Moneybox Cash ISA4.75%£500Y (maximum 3 withdrawals permitted)Open on the app
Cynergy Bank Online ISA4.7%£1NOpen online

The best cash ISAs: one-year fixed rate

If you’re happy to lock your cash away without any withdrawals for a year, then you can earn a higher rate – in most cases, you’ll also need at least £1,000 to open these ISAs. Here are the best one-year fixed-rate ISAs available now.

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ACCOUNTAERMINIMUM INVESTMENTNOTES
Shawbrook 1 Year Fixed Rate Cash ISA 5.83%£1,000Open online
UBL 1 Year Fixed Rate Cash E‑ISA 5.77%£2,000Open online, in branch or via post.
United Trust Bank 1 Year ISA Bond 5.7%£5,000Open online

The best cash ISAs: two-year fixed rate

If you have savings you’re happy to lock away for at least two years, you’ll find rates on cash ISAs above 5%.

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ACCOUNTAERMINIMUM INVESTMENTNOTES
United Trust Bank 2 Year ISA Bond 5.75%£5,000Open online
UBL 2 Year Fixed Rate Cash E‑ISA 5.6%£2,000Open online, in branch or via post.
SHawbrook 2 Year Fixed Rate ISA 5.58%£1,000Open online

The best cash ISAs: three-year fixed rate

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ACCOUNTAERMINIMUM INVESTMENTNOTES
Zopa 3 Year Fixed ISA 5.61%£1Open on the Zopa app
Secure Trust Bank 3 Year Fixed Rate Cash ISA 5.6%£1,000Open online
United Trust Bank 3 Year ISA Bond 5.55%£5,000Open online

What you need to know about the best cash ISAs

When choosing a cash ISA, there are two main factors to look out for: how long you are comfortable locking your cash up for and the interest rate.

  • Easy access ISA accounts allow you to withdraw funds without incurring a penalty.
  • Fixed-rate cash ISAs offer a fixed rate of return – usually higher the longer you are prepared to lock your money away. But note: if you withdraw money before the end of the term, then you are likely to be penalised, usually with a reduction in the rate of interest.

Generally speaking, the longer you leave the money untouched, the more interest you can earn. Many ISAs are classed as ‘flexible’, meaning you can replace any funds you withdraw in the same tax year without affecting your annual ISA allowance – which is currently £20,000.

Vaishali Varu

Vaishali graduated in journalism from Leeds University and she has experience working with the likes of Leicester Mercury, Inews and The Week. She also comes from a marketing background, where she has done copywriting and content creation for businesses. 

Currently writing about all things personal finance, Vaishali is passionate about finding the best deals around, whether it's the best credit cards or the cheapest personal loans, as well as sharing top money hacks to help people save and better manage their money.