Cash ISAs
Earn tax-free interest on annual savings of up to £20,000 with one of our Cash ISAs. A sensible option if you’re looking to build your savings, take your pick from a range of fixed and variable rates – as well as instant and limited access – and find an account that works for you.
Want to find out more about ISAs in general? We have more information on our ISAs explained and ISA transfers pages.
Our Cash ISAs
Here's what we've got for you…
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Product Name
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
Min. to Open
The minimum amount needed to open an account.
Opening
1 Year Fixed Rate Cash ISA
(Issue 212)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
4.20%
Tax-Free
Tax-Free
, p.a./AER Fixed
p.a./AER Fixed Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£100
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, but with 90 days' loss of interest
Account Opening
2 Year Fixed Rate Cash ISA
(Issue 202)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
4.05%
Tax-Free
Tax-Free
, p.a./AER Fixed
p.a./AER Fixed Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£100
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, but with 180 days' loss of interest
Account Opening
3 Year Fixed Rate Cash ISA
(Issue 158)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
3.85%
Tax-Free
Tax-Free
, p.a./AER Fixed
p.a./AER Fixed Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£100
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, but with 240 days' loss of interest
Account Opening
5 Year Fixed Rate Cash ISA
(Issue 151)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
3.80%
Tax-Free
Tax-Free
, p.a./AER Fixed
p.a./AER Fixed Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£100
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, but with 365 days' loss of interest
Account Opening
Limited Issue Online Access ISA
(Issue 80)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
4.55%
Tax-Free
Tax-Free
, p.a./AER Variable
p.a./AER Variable Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£1,000
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, unlimited
Account Opening
Six Access ISA
(Issue 3)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
3.80%
Tax-Free
Tax-Free
, p.a./AER Variable
p.a./AER Variable Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£1,000
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, up to 6 per calendar year
Account Opening
ISA Saver
(Issue 5)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
2.15%
Tax-Free
Tax-Free
, p.a./AER Variable
p.a./AER Variable Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£1
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, unlimited
Account Opening
E-ISA
(Issue 8)
Interest Rate
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
Tax-free means that interest payable is exempt from income tax.
2.15%
Tax-Free
Tax-Free
, p.a./AER Variable
p.a./AER Variable Paid Annually
Min. to Open
Min. to Open
The minimum amount needed to open an account.
£1
£NaN
Withdrawals
Withdrawals
Find out if withdrawals are allowed before maturity and if they mean a loss of interest.
Yes, unlimited
Account Opening
Cash ISAs - Common questions
A Cash ISA is a savings account that you don't pay any tax on. If you're 18 or over, you're given an individual savings account (ISA) allowance at the start of each tax year. Currently, that's £20,000. So, with a Cash ISA, you can save up to that amount each tax year and you'll pay no tax on the interest you earn.
Like other savings accounts, there are two main types of Cash ISAs. You can get ones offering easy access to your money or fixed rate options that offer a guaranteed interest rate for the year. It's important to choose the right type of Cash ISA for you.
So, how exactly does a Cash ISA work?
Cash ISAs are a simple form of savings account, with two main types available:
- Fixed Rate Cash ISAs: These give you a guaranteed interest rate for the duration of the ISA (from 1-5 years). You'll get a higher interest rate than with a variable Cash ISA, but you'll lose out on interest if you need to make a withdrawal.
- Variable rate Cash ISAs: These offer a lower interest than fixed rate isa accounts, but this can go up or down. However, you'll have easier access to your money, with many variable Cash ISAs offering unlimited withdrawals with no interest penalty attached.
It's a good idea to do a Cash ISA comparison to find out which option might work better for you.
As well as the different Cash ISA interest rates available, there are a few other key things to know about opening an account:
- You'll earn tax-free interest on your savings and you can add up to £20,000 a year.
- Cash ISAs stay tax-free every single year.
- Your Cash ISA allowance resets every year on 6 April.
- You may only subscribe to one Cash ISA in a single tax year with Leeds Building Society. In any such year, and if you are aged 18 or over, other providers may also allow you to invest in a Cash ISA, Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA, subject to the overall ISA limits.
- A maximum of £85,000 of your savings per building society, bank or credit union is protected under the Financial Services Compensation Scheme (FSCS). This protection extends to Cash ISAs.
Your Cash ISA allowance for each tax year is £20,000, so that's the maximum you can invest tax-free in a Cash ISA during that time.
Your allowance will start again at the beginning of the new tax year, allowing you to invest up to £20,000 tax-free the following year. Any leftover allowance won't be carried over to the next tax year.
It is possible to have multiple Cash ISAs but there are a few rules:
- You may only subscribe to one Cash ISA in a single tax year with Leeds Building Society. In any such year, and if you are aged 18 or over, other providers may also allow you to invest in a Cash ISA, Stocks and Shares ISA, Innovative Finance ISA and/or Lifetime ISA, subject to the overall ISA limits.
- You can only benefit from tax-free savings up to £20,000 per tax year.
If you exceed your overall ISA limits in the same tax year by mistake, you'll need to contact HMRC.
Essentially, yes, Cash ISAs are tax-free, meaning that you can save up to your allowance (£20,000 per tax year) without paying tax. This is providing that you follow the rules of your individual Cash ISA account.
Yes, you can transfer your Cash ISA to a different provider whenever you want, but if you've paid into your Cash ISA account in the current tax year, you must transfer all of your savings.
For savings from previous tax years, you can decide whether to transfer all or part of the balance.