Cash ISA

For people who want to manage their tax-free savings online, by mobile, by phone or in branch.


tax-free / AER variable


  • Open with £1
  • Unlimited withdrawals and deposits (up to current tax year's ISA allowance)
  • Manage online, by mobile, by phone or in branch
  • Opt into paperless statements

Summary box for Cash ISA

Account name

Cash ISA

What is the interest rate?


tax-free / AER variable

Interest is calculated daily and will be paid into your account annually on 5 April.

Can The Co-operative Bank change the interest rate?

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)

What would the estimated balance be after 12 months based on a £1,000 deposit?


This calculation is for illustrative purposes only and assumes:

  • You haven't made any additional deposits or withdrawals
  • There are no changes to the interest rate in the 12 month period

How do I open and manage my account?

To open an account you must be a UK resident aged 16 or over.

You can open an account:

  • online
  • in branch
  • in sole name only
  • with a minimum opening deposit of £1 - to be paid within 30 days

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.

Making deposits

If you're using any of your 2022/2023 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 in the 2022/2023 tax year is £20,000.

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?

  • you can contact us by phone or visiting a branch
  • you can also manage your account via online banking and mobile banking

Can I withdraw money?

Yes. You can make as many withdrawals as you like.

However, as this cash ISA is not a flexible cash ISA, any withdrawn money that you want to replace will count towards your ISA subscriptions for the current tax year,

You are only allowed to deposit up to the maximum ISA limit in a tax year. So, for example, if you deposit £10,000 and then withdraw £1,000, you’ll only be able to deposit a further £10,000 in that tax year.

You can withdraw money:

  • through online or mobile banking
  • by telephone banking
  • by visiting a branch - withdraw cash or make a transfer

You can request a Banker's cheque withdrawal over the phone or in branch, however there is a charge for this.

Additional information

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 free of both Income and Capital Gains Tax.

You cannot subscribe to a cash ISA with us if you have already contributed to another cash ISA using this tax year’s ISA allowance, or if you have already invested the full ISA allowance in another type of ISA this 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 Allowances and information guide

Apply for a Cash ISA

You must:

  • be a UK resident
  • be 16 years of age or above

Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.

More about credit checks for savings accounts

Before you apply

Please read these important documents↓ and save them for future reference.

New customers

Apply online. It will take around 10 minutes to complete this application.

To continue, confirm that you:

Please check the box to confirm you have read the important documents before proceeding
I confirm I am eligible for this account, and have read and agree to all the important documents listed below.
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You have confirmed you are eligible for the account and have read the important documents

Apply for a cash ISA

Existing customers

Log into online banking and go to ‘Products’ to apply

Savings terms explained

AER stands for Annual Equivalent Rate and shows what the interest rate would be if it 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 depends on the customer's individual financial circumstances.

The Co-operative Bank reserves the right to decline to accept any application and/or deposit.

FSCS logo

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 following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please click here for further information or visit

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