Cash ISAs
Make the most of your tax-free allowance and save up to £20,000 in the current tax year and/or transfer in ISA allowances from previous tax years.
Compare our cash ISA rates and features to find the right one for you.
Sole accounts only.
Instant access cash ISA features
- Save tax-free and earn a variable rate of interest
- Open with £1
- Unlimited withdrawals and deposits (up to the annual ISA allowance per tax year)
Fixed rate cash ISA features
- Save tax-free and earn a fixed rate of interest
- Open with £5,000
- Lock your savings away and earn a guaranteed return
Instant access cash ISAs
Cash ISA
1.75% interest changing to 1.68% on 22/01/2025
tax-free/AER variable
Ideal if you want to manage your tax-free savings online, by mobile, by phone, or in branch
Key features
- Open with £1
- Unlimited withdrawals and deposits (up to the annual ISA allowance per tax year)
- Manage online, by mobile, by phone or in branch
Online Cash ISA
2.53% interest changing to 2.46% on 22/01/2025
tax-free/AER variable
Ideal if you want to manage your tax-free savings online and on mobile
Key features
- Open with £1
- Unlimited withdrawals and deposits (up to the annual ISA allowance per tax year)
- Manage online and on mobile only
Important to know
- Existing Co-operative Bank current account customers only
- Unable to deposit or withdraw cash or cheques
Fixed rate cash ISAs
Co-operative Bank Fixed Rate Cash ISA
4.15% tax-free / AER for a 1 year Fixed Rate Cash ISA
3.93% tax-free / AER for a 2 year Fixed Rate Cash ISA
Ideal if you have a lump sum to save or transfer and don’t need immediate access to your savings
Key features
- Save tax-free with a fixed interest rate
- Open with £5,000 or transfer your existing cash ISA to us
- Manage your account online, by mobile, over the phone, in branch or by post.
Important to know
- You’ve got 30 days from when we open your account to pay in the minimum deposit. You can do this in one lump sum or through multiple payments
- No further deposits are allowed after 30 days from account opening
- Withdrawals during the fixed term are subject to 180 days’ loss of interest on the amount of money withdrawn.
This product can be withdrawn at any time.
At the end of your term, your money will be transferred to a variable Co-operative Bank Cash ISA, or another account of your choice.
Understanding ISAs
Tools and practical guides to help you start tax-free saving.
What is a cash ISA?
Cash ISAs allow you to earn tax-free interest on the money you save.
Changes to ISAs from 6 April 2024/2025
As part of its Autumn Statement, the Government announced a number of changes to simplify ISAs from 6 April 2024/2025.
Find out more about the changes to ISAs from 6 April 2024/2025
ISA allowances and information
Find out how ISA allowances work and how to transfer your existing cash ISA
Why choose The Co-operative Bank
Born from the co-operative movement in 1872, we’re proud to be the only UK high street bank with a customer-led Ethical Policy.
Our customers know their money will be kept safe and not be used in a way that conflicts with their values and ethics.
Savings terms explained
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
Business day is usually Monday to Friday excluding bank holidays.
Calendar month means from midnight on the first day of a month to 11.59:59pm on the last day of the month.
Fixed interest means the rate stays the same until the account matures.
Gross is the rate of interest payable before any tax is taken off.
Tax-free means you will not pay any tax on your interest.
Tax year runs from 6 April to 5 April.
Variable interest means that it could go up or down.
Please note: any reference to tax is based on our understanding of current tax regulations which may change in the future and depend on the customer's individual financial circumstances.
The Co-operative Bank reserves the right to decline or accept any application and/or deposit.
Financial Services Compensation Scheme
Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with The Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please read further information on the FSCS scheme here or visit their website.
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