Everything you need to know about Cash ISAs

Article

  • Luke Pummell

    Head of Product Management

  • What is a Cash ISA?

    Introduced in 1999, an Individual Savings Account (ISA) is a tax-free savings account. You can currently pay up to £20,000 into a cash ISA without paying any tax.

    A key change to be aware of

    From April 2027, adults aged under 65 will only be able to pay £12,000 into a cash ISA. The £20,000 limit for savers aged 65 and over remains unchanged, and will apply from the beginning of the financial year in which someone turns 65.

    You can read about the changes in full on the gov.uk website.

  • What are the different types of Cash ISAs?

    • Easy Access Cash ISA - easy access ISAs usually allow you to withdraw your money whenever you like. They often have variable rates, meaning the interest rate could go up or down at any time.
    • Notice Cash ISA - a Notice Cash ISA has a variable rate of interest, but restricts withdrawals. For example, a Notice Cash ISA may require you to give 60 or 90 days notice in order to withdraw funds.
    • Fixed Rate Cash ISA - with a Fixed Rate ISA, you can't take any money out until the fixed term ends, so they may not be suitable for savers who want immediate access to their money. Fixed Rate Cash ISAs have a fixed rate of interest, which means it stays the same for the term of the account.

FAQs about Cash ISAs

As of 2024, you can save into more than one cash ISA in a year with different providers. Some providers will also allow you to open more than one cash ISA with the same provider in a single year.

If you open more than one cash ISA in a year, your tax-free allowance is split across all accounts, instead of being per account.

You must be aged 18 or over to open an adult cash ISA, though you can open your own Junior ISA at 16 or 17. 

Click here for our guide to Junior ISAs.

No, ISAs can only be held in a single name. The tax-free benefits are attached to an individual and cannot be shared.

Yes. You can transfer your cash ISA to another provider, provided the new provider accepts transfers in. The new provider will manage the transfer process on your behalf.

Some providers may have restrictions or fees involved in transferring your ISA, so it is worth checking with them if you are unsure.

You can read more about transferring an ISA here.

Reviewed August 2026.