As well as not requiring you to pay any tax on interest earned, an easy-access ISA doesn’t impose any limitations on how and when you can withdraw the money you’ve saved up. This guide will help you compare what accounts are out there to find the best easy-access ISA for you.
Is my money safe?
The Financial Services Compensation Scheme (FSCS) guarantees that it will step in to compensate the first £85,000 (£170,000 for a joint account) you have saved with a UK-authorised bank, building society or credit union in the event that the business goes bust.
Best easy-access ISA rates
Table: sorted by interest rate, promoted deals first
An ISA is a savings account in which you won’t have to pay tax on any interest you earn. There is an annual cap on the amount of funds you can deposit into an ISA.
In an “easy-access” ISA, there are no (or barely any) hurdles to jump to withdraw your funds.
There are plenty of “instant-access” ISAs available, which allow you to withdraw your funds without giving any notice. There are also some accounts which require you to give up to 90 days’ notice that may still be labelled as “easy access”.
What are the benefits?
The main benefit is that you can earn tax-free interest on your savings, but still withdraw them with no troubles, perhaps to take care of an emergency payment.
What are the differences between easy-access and other cash ISAs?
Fixed-rate cash ISAs tend to offer higher interest rates, fixed for a defined amount of time. However, you can’t withdraw your cash during this fixed-rate period. Some fixed-rate ISAs will still allow you to withdraw your funds if you pay a penalty.
How to find the best easy-access ISA
The only important factor separating the best easy-access ISA from the rest is the interest rate being offered. You can quickly find the easy-access ISAs offering the best rate using any price comparison website.
Pros and cons of an easy-access ISA
Pros
You’ll earn tax-free interest on your savings
You can withdraw your funds instantly
Cons
Easy-access ISAs offer lower interest rates compared to fixed-rate ISAs
There is a limit on the amount you can deposit per tax year
An overview of our easy-access ISA comparison
Rates up to
5% AER
Number of accounts
190
Number of brands
83
Minimum investment
£0
Maximum investment
£150,000
Opening options
Mobile app, branch, website, post, telephone
Bottom line
If you need easy access to your savings but still want to earn some interest while your funds are stored away, easy-access ISAs are a great shout for you.
Frequently asked questions
You can hold several cash ISAs, but crucially you can only open and deposit money into one cash ISA each tax year.
For the 2024/2025 tax year, you can pay up to We have updated figures for the new tax year. into an ISA. You can save this amount into one type of account or split it across some or all of the different types of ISA (cash, stocks and shares, lifetime and innovative finance ISA).
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Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio
Matthew's expertise
Matthew has written 284 Finder guides across topics including:
Helping first-time buyers apply for a mortgage
Comparing bank accounts and highlighting useful features
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