Not the right account for you? Take a look at our other savings accounts.
The account summary information is displayed in the Summary Box below — you must read it before applying. You can also download this information in a PDF.
Cash ISA
1.62% rate up to 22/07/2025
1.53% rate from 23/07/2025
tax-free / AER variable
Interest is calculated daily and will be paid into your account annually on 5 April.
Yes. The interest rate is variable, which means that it could go up or down.
If we increase the rate, we’ll apply the higher rate immediately and we’ll tell you about the change within 30 days.
If we decrease the rate, we’ll give you 2 months' notice of the change.
For more details about when and how we might change the rate, see the 'Changes' section of our Savings General Terms and Conditions (PDF).
£1,015.30
This calculation is for illustrative purposes only and assumes:
To open an account you must be a UK resident aged 18 or over.
You can open an account:
If the minimum amount of £1 isn’t paid within 30 days, we may close the account.
There is a maximum balance of £1,000,000.
If you're using any of your annual ISA allowance
You can make deposits by cash, cheque or transfer from another account held with us or another provider. Cash and cheques can be paid at your local branch. Cheques can be paid at your local Post Office.
The maximum you can pay into the Cash ISA if using your annual ISA allowance is £20,000 per tax year.
If you're transferring your cash ISA to us
You can do this by providing us with a completed ISA transfer authority form. You'll receive the form in your welcome pack so just complete it, return it to us and we'll arrange the transfer on your behalf.
How do I manage this account and get in contact?
Yes – whenever you want as this account has no restrictions on the number of withdrawals.
However, as this cash ISA is not a flexible cash ISA, any money that you withdraw from your ISA will lose its tax-free status, and, if repaid back into an ISA, it will count towards your current tax year's ISA allowance.
So, for example, if you have deposited £10,000 and then withdraw £1,000, you will only be able to deposit a further £10,000 in that tax year.
You can request a Banker's cheque withdrawal over the phone or in branch, however there is a charge for this.
If you are or have previously been made bankrupt, you can still apply.
Interest earned from this account will not count towards any of your available Personal Savings Allowance.
All interest earned from your ISA will be tax-free.
You cannot pay into a cash ISA with us if you have already paid in the full annual ISA allowance in this tax year.
You cannot pay into more than one cash ISA with The Co-operative Bank and smile in the same tax year.
If you do not place any money in your account during a tax year, you will need to contact us to make a new declaration should you wish to make a deposit in a subsequent tax year.
Please always consider your own personal circumstances before applying for this account.
For more information about ISAs in general, please read our ISA Allowance and information guide.
You’re able to transfer money from an existing cash ISA into our Cash ISA from another provider. They may have restrictions relating to ISA transfers – we recommend checking this before requesting a transfer to us.
You must not withdraw the money and transfer it to us yourself, as it will lose its tax-free status.
If you wish to transfer an existing cash ISA held with us or another provider to a new Cash ISA, you’ll need to:
Approval is based on an assessment of your personal circumstances. To help protect you and ourselves against fraud, we’ll share the personal information from your application with fraud prevention agencies.
It will take around 10 minutes to complete this application.
You have confirmed you are eligible for the account and have read the important documents
If you’d prefer to speak to someone in person, you also have the option to apply in one of our branches.
If our Cash ISA isn’t right for you, there are plenty of other ways to save with us.
A limited access account for those who want a higher interest rate if they don't withdraw, but have easy access to their money when they need it.
A fixed rate cash ISA for those with a lump sum to save or transfer, who don't need immediate access to their savings.
An instant access cash ISA for existing customers who want to manage their tax-free savings online and on mobile.
There is now more protection for victims of certain types of scams. Read more about the changes to scam reimbursements.
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.
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.
Business day is usually Monday to Friday excluding bank holidays.
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 to accept any application and/or deposit.
Your eligible deposits held by a UK establishment of The Co-operative Bank p.l.c. 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.
Not found what you're looking for?
Contact our support team
