Top Cash ISA for new tax year pays 4.61% interest rate
It is a great option for those who want both a high rate and flexibility.
Brits looking to make the most of their savings this tax year can now earn up to 4.58% interest with a top-paying easy access Cash ISA. With the new tax year underway, many savers are seeking the best rates to grow their money tax-free. Cash ISAs remain a popular option, still allowing people to save up to £20,000 a year without paying tax on the interest.
And right now, one of the highest easy-access rates available comes from Trading 212. Its Cash ISA is currently offering a rate of 4.61% AER (variable), which includes a bonus for the first 12 months.
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The rate includes a 1.01% bonus on current-year contributions for the first year, after which it will drop. The bonus rate is available only to new customers via moneyfactscompare.co.uk.
The account is flexible, allowing savers to withdraw money at any time without affecting the interest rate.
There are no account fees and no minimum deposit, so people can earn interest on their full balance, no matter how much they save.
Interest is earned daily and paid monthly, helping to maximise returns over time. The account also offers unlimited access, allowing withdrawals whenever needed.
What other high-paying Cash ISAs are out there?
There are several other competitive Cash ISA options available, each with slightly different features.
Plum Cash ISA
Plum is offering a Cash ISA with a headline rate of 4.60% AER (variable), although this also includes a bonus.
The rate includes a 2.06% bonus if the money is kept in the account for 12 consecutive months and certain conditions are met.
After 12 months, the rate drops to 2.54% AER (variable).
The transfer-in rate is 4.45% AER (variable), including a bonus.
The account is flexible, meaning savers can withdraw and pay money back in without affecting their annual ISA allowance.
Moneybox Cash ISA
Moneybox offers a Cash ISA with a rate of 4.43% AER (variable), which includes a 0.98% bonus for the first 12 months.
It is available to new customers and allows savers to deposit up to £20,000 each year tax-free.
The account requires a minimum of £500 to open.
Savers can make up to 3 withdrawals per 12 months without affecting the interest rate.
Tembo Money Cash ISA
Tembo Money offers a Cash ISA with a rate of up to 4.30% AER (variable).
This includes an underlying rate of 2.80% AER and a 1.50% fixed bonus for the first 12 months.
The account allows unlimited withdrawals without reducing the interest rate.
It also offers additional features, including access to fee-free mortgage advice for savers.
Atom Bank Cash ISA
There are no introductory rates, fees or penalties.
Savers can add or withdraw money whenever they like, and there is no minimum deposit required.
However, the account is not flexible, meaning withdrawals cannot be replaced without affecting the annual ISA allowance.
