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Top cash ISAs 2022/23
Up to 1% easy access or up to 2.2% fixed
A cash ISA is a savings account where you'll never pay tax on the interest – and this tax year, if you're 16+, you can put up to £20,000 into one. With the top rates creeping up over recent months, if you do need an ISA's tax benefits, this guide has the top picks.
Top-pick cash ISAs

Other MSE savings guides...
Top Savings Accounts: The top paying standard accounts, plus help choosing
Regular Savings: Up to 5% interest if you can save monthly
Children's Savings: Earn 3% on kids' savings
Current Accounts: Get up to 2% on smaller sums
What is a cash ISA?

Cash ISAs are just savings accounts you NEVER pay tax on. Everyone in the UK aged 16 or over gets an ISA allowance at the start of each tax year – for 2022/23, which ends on 5 April 2023, it's £20,000.
Just like normal savings, cash ISAs come in different flavours – there's easy access (withdraw whenever you want), fixed rate (where you get a guaranteed rate, but are supposed to lock cash in for a set time) and a variety of other types.
Do I need a cash ISA?
Since 2016 the personal savings allowance means few savers actually pay tax on interest, as all basic 20% rate taxpayers can earn up to £1,000 interest in savings before it's taxed (higher 40% taxpayers £500). Fewer than one in 20 people get close to that; for everyone else there's no practical cash ISA benefit.
Instead the interest rate is what counts, and cash ISAs usually pay less than normal savings. Yet there are a couple of caveats. You should consider opening (or keeping) a cash ISA if
- You're near the limit where you'll earn enough interest to pay tax on interest. If that's the case, money in cash ISAs now could protect you from future tax.
- If you're happy to lock cash away but may just need to access it. Fixed cash ISAs must let you withdraw money (for a big interest penalty). Normal savings accounts lock your money away with no access.
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Eight cash ISA need-to-knows
To help you work out if opening a cash ISA is right for you, it's worth getting your head around the following need-to-knows...
Top easy-access cash ISAs
Easy-access cash ISAs let you take out your money when you want, without penalty – so are a good option if you know you'll be dipping into your savings, or if you're not sure. But if you're unlikely to need access in the short term, consider a fixed-rate ISA – many of these pay more and still let you withdraw (for a fee).
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Easy-access cash ISAs – what we'd go for
Unless you need the tax benefits of an ISA, take a look at the top standard easy-access savings accounts as these currently pay higher rates.
If you're still after an ISA, Marcus* and Saga* pay the top standard easy-access rate of 1% (min £1) with unlimited withdrawals, though you can't transfer in existing cash ISAs.
Nationwide* also pays 1% and allows transfers in, though you need to have an existing current account or easy-access savings account with it to qualify. It also only allows three penalty-free withdrawals per year.
Provider | Rate – AER variable (min deposit) | Unlimited withdrawals? | Flexible? | Transfer in allowed? | How to open | When can I access interest? |
Marcus* | 1% (min £1) (1) | Yes | No | No | Online | Monthly |
---|---|---|---|---|---|---|
Saga* | 1% (min £1) (1) | Yes | No | No | Online | Monthly |
Nationwide* Existing customers only |
1% (min £1) (2) | No, max 3/year (3) | Yes | Yes | Online/ app | At maturity |
Tesco Bank | 0.95% (min £1) (4) | Yes | Yes | Yes | Online/ phone | Annually |
(1) Includes a fixed 0.1% bonus for the first 12 months. (2) At the end of 12 months, this account is automatically changed to another easy-access account, likely paying a lower interest rate. (3) Rate drops to 0.1% on your fourth withdrawal. (4) Includes a fixed 0.7% bonus for the first 12 months.
Quick question
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Top fixed-rate cash ISAs
Fixed-rate savings are designed to lock money away for a set period and offer rate security in return. Yet by law, cash ISA providers MUST allow you to access your money, whenever you want it. However, some require you to close the account or transfer out to get your cash. And most will levy heavy penalties on withdrawals – up to 365 days' worth of interest.
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Fixed-rate cash ISAs – what we'd go for
If you don't need the tax benefits of an ISA, normal fixed-rate savings currently pay higher rates across the board.
However if you do, Aldermore currently pays the top one-year fixed rate at 1.65% and Castle Trust Bank pays the top two-year at 2.12% and three-year at 2.23% (all min £1,000).
Looking to fix for longer? Three providers currently pay the top five-year fixed rate of 2.2%, though Furness Building Society and Secure Trust Bank both allow you to save from £1,000.
Provider | Rate – AER (min deposit) | Transfer in allowed? | Penalty to withdraw | How to open | When can I access interest? |
Aldermore | 1.65% (min £1,000) | Yes | 90 days' interest | Online | Monthly or at maturity |
---|---|---|---|---|---|
Close Brothers | 1.61% (min £10,000) | Yes | 90 days' interest | Online | At maturity |
Shawbrook Bank | 1.6% (min £1,000) | Yes (1) | 90 days' interest | Online | Monthly or at maturity |
(1) Transfer requests must be made at the same time as applying for the account.
Provider | Rate – AER (min deposit) | Transfer in allowed? | Penalty to withdraw | How to open | When can I access interest? |
Castle Trust Bank | 2.12% (min £1,000) | Yes | 180 days' interest | Online | Annually or at maturity (1) |
---|---|---|---|---|---|
Shawbrook Bank | 2% (min £1,000) | Yes (2) | 180 days' interest | Online | Monthly, annually or at maturity |
UBL UK | 2% (min £2,000) | Yes | 180 days' interest | Online/ app/ post/ branch | Monthly, annually or at maturity (3) |
(1) Interest rate is 2.11% AER if annual interest chosen. (2) Transfer requests must be made at the same time as applying for the account. (3) Interest is paid away so doesn't compound.
Provider | Rate – AER (min deposit) | Transfer in allowed? | Penalty to withdraw | How to open | When can I access interest? |
Castle Trust Bank | 2.23% (min £1,000) | Yes | 270 days' interest | Online | Annually or at maturity (1) |
---|---|---|---|---|---|
Hampshire Trust Bank | 2.16% (min £1) | Yes | 270 days' interest | Online | At maturity |
Secure Trust Bank (2) | 2.1% (min £1,000) | Yes (3) | 270 days' interest | Online | Annually or at maturity |
(1) Interest rate is 2.21% AER if annual interest chosen. (2) Matures 16 June 2025. (3) Transfer requests must be made at the same time as applying for the account.
Provider | Rate – AER (min deposit) | Transfer in allowed? | Penalty to withdraw | How to open | When can I access interest? |
Furness BS | 2.2% (min £1,000) | Yes | 180 days' interest | Online/ post/ branch | Annually or at maturity |
---|---|---|---|---|---|
Secure Trust Bank (1) | 2.2% (min £1,000) | Yes (2) | 365 days' interest | Online | Annually or at maturity |
UBL UK | 2.2% (min £2,000) | Yes | 365 days' interest | Online/ app/ post/ branch |
Monthly, annually or at maturity (3) |
(1) Matures on 14 June 2027. (2) Transfer requests must be made at the same time as applying for the account. (3) Interest is paid away so doesn't compound.

The ISA Savings Calculator
No matter what you're saving for, this calculator can help you work out how much you'll save by a certain date, based on your account's interest rate, how long it'll take you to set aside your target amount, and what you need to put away each month to hit a certain figure.
When using the calculator, use the AER (annual equivalent rate) for increased accuracy. It should be listed on your statement. As most accounts' interest rates are variable, obviously the answers will change if the rate does, so only use the calculator to get a rough indication of your likely outcome.
The calculator assumes you put money in at the beginning of each month, so if this isn't how you do it, the answers will be ever-so-slightly out. If you don't make regular deposits but put in lump sums, figure out the monthly equivalent for a rough answer. Feel free to play with the results to see how your savings are affected.
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Want to be told the latest on ISAs?
We put all new info in the free weekly MSE Money Tips email, so sign up now and join millions of others in saving money.
Want to complain about your savings provider?
If your savings provider has given you the incorrect interest rate, or you haven't received your interest at all, then you don't have to suffer in silence.
It's always worth trying to call your provider first to see if it can help, but if not, you can use free complaints tool Resolver. The tool helps you manage your complaint, and if the company doesn't play ball, it also helps you escalate your complaint to the free Financial Ombudsman Service.
ISA FAQs
Here are some common ISA-related queries. If you've got a question we've not answered below or in the text above, suggest a question in the MSE Forum.
MSE Weekly Email
Want to be told the latest on ISAs?
We put all new info in the free weekly MSE Money Tips email, so sign up now and join millions of others in saving money.

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