Our Easy Access Cash ISA account is called ‘Easy’ because it is. You get the tax benefits of a cash ISA, while still enjoying access to your money when you need it. Make as many withdrawals as you like, (subject to a minimum withdrawal amount) without giving us notice, and manage your account online. Interest is paid annually or monthly - it’s your choice.
You can invest up to the current limit for the tax year, and if you have ISA balances elsewhere, you can transfer them in to keep your savings in one accessible place.
Before you apply for an account please read the product summary below and the:
| AER | Gross Annual Interest | Gross Monthly Interest |
| 4.70% | 4.70% | 4.60% |
Interest rate for balances of £1-£999.99 (this rate only applies if your account falls below the minimum operating balance);
0.25% Gross/AER (Variable/Tax Free)
Interest is calculated daily. Interest will be paid on the anniversary of the date we receive your first deposit – this will be monthly or annually depending on the product you choose. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.
The interest rate is variable and may be altered in accordance with the account Terms and Conditions and Section 17 Change To Interest Rates of our Terms and Conditions for Personal Savings Accounts.
| Deposit at account opening | Balance after 12 months | Interest earned |
| £1,000 | £1,047 | £47 |
This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest is paid and compounded annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.
The information provided in the summary box above is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account.
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Financial Services Compensation Scheme (FSCS) Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.uk |
AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.
Gross. This is the interest rate without the deduction of income tax. This is the interest rate paid on your account.
Shawbrook is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.uk or www.bankofengland.co.uk/prudential-regulation
A cash ISA (Individual Savings Account) is a tax-free savings account. That means you won’t pay tax on the interest you earn. Compare our range of accounts and find the best cash ISA that suits your needs.
You can pay up to £20,000 into a cash ISA in the tax year of 2023/24. Whether you’d like easy access or a fixed rate ISA, it’s important to find the right option for you.
At Shawbrook, we prefer to keep our approach to savings as straightforward as possible. That’s why you can rest assured we'll always be upfront about everything you need to know.
Visit our guide to learn more about cash ISAs.
Our cash ISA rates depend on the type of ISA you choose. If you’re a saver who can put aside your money for a set time, a fixed rate ISA could be the right option for you. To compare our ISA interest rates, scroll down to view our product table.
Access your personal savings and earn interest without locking your money away.
Invest for the timeframe that suits you with various fixed terms available, ranging from 1 year to 7 years.
| Easy Access Cash ISA Account Issue 26 Summary PDF | ||||
|---|---|---|---|---|
|
AER
4.70%
Variable / Tax-Free
|
Gross
4.70% Annually
4.60% Monthly
|
Min Balance
£1,000
|
Max Balance
£250,000
|
| 1 Year Fixed Rate Cash ISA Bond Issue 85 Summary PDF | ||||
|---|---|---|---|---|
|
AER
4.65%
Fixed / Tax-Free
|
Gross
4.65% Annually
4.55% Monthly
|
Min Balance
£1,000
|
Max Balance
£250,000
|
| 2 Year Fixed Rate Cash ISA Bond Issue 77 Summary PDF | ||||
|---|---|---|---|---|
|
AER
4.90%
Fixed / Tax-Free
|
Gross
4.90% Annually
4.79% Monthly
|
Min Balance
£1,000
|
Max Balance
£250,000
|
| 3 Year Fixed Rate Cash ISA Bond Issue 51 Summary PDF | ||||
|---|---|---|---|---|
|
AER
4.85%
Fixed / Tax-Free
|
Gross
4.85% Annually
4.75% Monthly
|
Min Balance
£1,000
|
Max Balance
£250,000
|
| 5 Year Fixed Rate Cash ISA Bond Issue 43 Summary PDF | ||||
|---|---|---|---|---|
|
AER
4.60%
Fixed / Tax-Free
|
Gross
4.60% Annually
4.51% Monthly
|
Min Balance
£1,000
|
Max Balance
£250,000
|
| 7 Year Fixed Rate Cash ISA Bond Issue 18 Summary PDF | ||||
|---|---|---|---|---|
|
AER
4.50%
Fixed / Tax-Free
|
Gross
4.50% Annually
4.41% Monthly
|
Min Balance
£1,000
|
Max Balance
£250,000
|
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.
GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.
Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
It’s important you have all the details before you open an account. You can find more information about specific cash ISAs by clicking through on the comparison table above. If you open an account and change your mind, we offer a 14 day cooling off period where you can close it without losing interest or incurring penalties.
You can also find useful information below about our ISA accounts.
You can open an ISA with us if:
You can only open and subscribe to one cash ISA account in any given tax year. You cannot open a cash ISA acting on behalf of an account holder with power of attorney, guardianship or an intervention order.
You can continue to fund your ISA as long as you have a remaining ISA allowance for the current tax year.
Transferring an ISA to a new Shawbrook ISA
To transfer an existing Cash ISA account from another provider across to Shawbrook, you should complete an application for a new Cash ISA. As part of your application process we will capture the details of your current Cash ISA. We will then work with your existing Cash ISA provider to complete the transfer for you.
Transferring an ISA to an existing Shawbrook account
To transfer in an ISA to an existing Shawbrook account, get in touch by secure message from your customer portal and we will work with you to complete the transfer
Transferring from one Shawbrook ISA to another
To transfer your Shawbrook ISA to another Shawbrook ISA you just need to let us know with a secure message from your customer portal and we will complete the transfer.
Please note, if you simply withdraw money from a cash ISA account you cannot deposit funds back into your account if the deposit amount means you exceed the maximum annual subscription allowance, and you will lose your tax free status ISA benefits.
All of our cash ISAs allow withdrawals. However, any money you withdraw will lose its ISA status, and it can’t be replaced. This means that if you’ve already used your full ISA allowance, then withdrawn the money, you wouldn’t be able to add that money back into your ISA this year.
You won't be charged a fee if you withdraw money from your easy access cash ISA. There are no limits to the number of withdrawals you can make with an easy access cash ISA, but the account is subject to a minimum withdrawal amount of £500.
With our fixed cash ISAs, partial withdrawals or account closures made before the end of the fixed term are subject to a fee (also known as the early exit charge).
The amount will depend on the product you take. You’ll be able to find out what this charge is in the product summary for the product you’re interested in. If you’re already a customer, you’ll find it in the product information we sent to you when you opened your account.
All Shawbrook Bank ISAs are protected by the Financial Services Compensation Scheme (FSCS). The FSCS will guarantee your ISA savings up to £85,000 per eligible person.