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What is a Cash ISA?

  • An ISA, or individual savings account, is a savings account where all of the interest earned is tax free and doesn’t form part of your Personal Savings Allowance.
  • At the start of each new tax year (6 April), every UK adult receives an ISA allowance. You can split the allowance across the different ISA types – or save the whole allowance in one type of ISA (apart from the Lifetime ISA, which has a limit of £4,000).
  • The different ISA types are: cash ISA, stocks and shares ISA, innovative finance ISA and Lifetime ISA.
  • If you don’t use all of your allowance during the tax year, it will be lost – it can’t be rolled over to the next tax year. By making sure that you use your ISA allowance each year, your pot of tax-free savings can continue to build year on year.

Our accounts

Reward ISA Single Access Account Issue 3

Interest rate (AER*)

  • 4.40% Up to one withdrawal
  • 2.90% Two or more withdrawals

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£100

Suitable if you

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs and add money up to the ISA allowance
  • Are unlikely to make more than one withdrawal a year. Your interest rate will reduce to 2.90% AER from your second withdrawal for the remainder of that anniversary year.
Read more & apply

Reward ISA Double Access Account Issue 2

Interest rate (AER*)

  • 4.15% Up to two withdrawals
  • 2.90% Three or more withdrawals

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£100

Suitable if you

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs and add money up to the ISA allowance
  • Are unlikely to make more than two withdrawals each year. Your interest rate will reduce to 2.90% AER from your third withdrawal for the remainder of that anniversary year.
Read more & apply

1 Year Fixed Rate Cash ISA

Interest rate (AER*)

  • 4.20% Fixed

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£1,000

Term

1 year

Suitable if you

  • Want all of the interest tax free
  • Have a lump sum to deposit or transfer and won’t want to add money further down the line
  • Want a guaranteed interest rate for the term
  • Accept that there will be a deduction of interest if you need access to your money during the term
Read more & apply

2 Year Fixed Rate Cash ISA

Interest rate (AER*)

  • 4.13% Fixed

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£1,000

Term

2 years

Suitable if you

  • Want all of the interest tax free
  • Have a lump sum to deposit or transfer and won’t want to add money further down the line
  • Want a guaranteed interest rate for the term
  • Accept that there will be a deduction of interest if you need access to your money during the term
Read more & apply

3 Year Fixed Rate Cash ISA

Interest rate (AER*)

  • 4.05% Fixed

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£1,000

Term

3 years

Suitable if you

  • Want all of the interest tax free
  • Have a lump sum to deposit or transfer and won’t want to add money further down the line
  • Want a guaranteed interest rate for the term
  • Accept that there will be a deduction of interest if you need access to your money during the term
Read more & apply

60 Day Notice Cash ISA Issue 5

Interest rate (AER*)

  • 3.65% Variable

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£1,000

Term

60 days' notice

Suitable if you

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs and add money up to the ISA allowance
  • Might need access to your money, but won’t need it instantly
Read more & apply

30 Day Notice Cash ISA Issue 16

Interest rate (AER*)

  • 3.55% Variable

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£1,000

Term

30 days' notice

Suitable if you

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs and add money up to the ISA allowance
  • Might need access to your money, but won’t need it instantly
Read more & apply

Easy Access Cash ISA Issue 4

Interest rate (AER*)

  • 3.55% Variable

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£1,000

Suitable if you

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs and add money up to the ISA allowance
  • Don't want to lock your money away
Read more & apply

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Looking to open multiple ISAs?

With our MaximISA, you can mix and match your Aldermore Cash ISA products, so you can build the perfect ISA package tailored to your needs.

So, if you don’t have your full allowance available now, you can open a Cash ISA using part of it, and when any additional funds become available you can open further products with the rest.

Following changes announced in 2024, you can now invest your current year’s ISA allowance across multiple cash ISA providers. So, if you’ve invested part of your current year’s ISA allowance with another bank or building society, you can invest the remainder of the allowance in an Aldermore cash ISA.

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ISA Transfers

When you open your account, you’ll be asked at the start of the application if an existing ISA is to be transferred. If it is, towards the end of the application you’ll be asked to provide the details of the ISA to be transferred.

Where your existing provider subscribes to the electronic Cash ISA transfer platform, your request will be submitted electronically.

If your existing provider doesn’t subscribe to the electronic platform, you’ll need to print and send us a completed ISA transfer form, which is provided to you at the end of your application.

Please make sure that any ISA Transfer Forms are returned within 14 calendar days from the date of application.

Read more about ISA Transfers

Things you need to know

  • Your annual ISA allowance for the 2025/2026 tax year is £20,000. You can split the allowance across the different ISA types - cash ISA, stocks and shares ISA, innovative finance ISA and Lifetime ISA - or save the whole allowance in one type of ISA (apart from the Lifetime ISA, which has a limit of £4,000)
  • We only provide cash ISAs
  • You can make deposits up to £20,000 by Faster Payments, BACS, CHAPS or Standing Order from your nominated UK bank or building society account. You can also transfer existing ISAs from other providers, up to the amount held.
  • The favourable tax treatment depends on your individual circumstances and may be subject to change in the future
  • We reserve the right to withdraw these accounts from sale at any time

Fixed Rate Cash ISAs

  • You can transfer in a Fixed Rate Cash ISA held with another provider at account opening stage only. Please make sure that any ISA transfer forms are returned within 14 calendar days
  • You have 14 calendar days from account opening to make as many deposits as you like. After this period no further deposits are permitted

 

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An explanation of savings terms

Here’s a handy glossary to help explain the various savings acronyms and terms:

  • AER is an acronym for Annual Equivalent Rate. This is an indication of the percentage of interest received from savings in a year.
  • Variable interest means that the savings interest rate can increase/decrease throughout the year.
  • Tax-free means that the interest earned will not be subjected to income tax.
  • Interest rate, in the context of savings, is the amount a bank pays to savers in exchange for saving.
  • ISA is an acronym for Individual Savings Account.

Cash ISA FAQs

You can split your annual ISA allowance across the different ISA types - Cash ISA, Stocks and Shares ISA, Innovative Finance ISA and Lifetime ISA - or save the whole allowance in one type of ISA (apart from the Lifetime ISA, which has a limit of £4,000).

Aldermore offers Cash ISAs only. You can split your Cash ISA allowance between any of our Cash ISA products. This will be classed as one Cash ISA for the purposes of tax-free allowances and HMRC reporting.

Following changes announced in 2024, you can now invest your current year’s ISA allowance across multiple cash ISA providers. So, if you’ve invested part of your current year’s ISA allowance with another bank or building society, you can invest the remainder of the allowance in an Aldermore cash ISA.

If you’ve got existing ISAs with other providers from previous tax years, these don’t count towards your £20,000 annual allowance so you can transfer these to us in full. By bringing all of your ISAs together in one place, you can manage your ISA portfolio with ease.

The current tax year allowance (ends 5 April 2026) is £20,000.

You can transfer an ISA by following the usual transfer process. All of our Cash ISAs are flexible but if you transfer them to another provider, the provider that you transfer to may not offer flexibility in which case your ISA will no longer be flexible when it moves to them.

If you transfer an ISA from another provider into one of our cash ISAs, it will automatically become flexible.  

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