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Cash ISAs

Opening a Cash ISA could be one of the best ways to start building up your tax free savings. We have a range of Cash ISA products for you to choose from. And all interest you earn is tax free and doesn’t count towards your Personal Savings.

Best Buy Fixed Rate Cash ISAs

Whether you’re looking for a fixed rate, a notice account or saving for your first home, we have a Cash ISA to suit you. And our MaximISA allows you to split your allowance between any of our Cash ISA products to maximise your tax free savings.

Our Cash ISAs

Personal Savings

Fixed Rate Cash ISAs

  • 4.6/5 (2929 reviews)

Let’s get earning and protect your savings from the taxman. Our Fixed Rate Cash ISAs give you guaranteed interest rates over a choice of fixed terms.  And all of the interest you earn is tax free and doesn’t count towards your Personal Savings Allowance.

Up to 1.85% AER*

Personal Savings

Notice Cash ISAs

  • 4.2/5 (25 reviews)

With our Notice Cash ISA you can protect your savings from the taxman while building up your nest egg. You can add to your savings and make withdrawals whenever you like.  And what’s even better is that all the interest you earn is tax free and it doesn’t count towards your Personal Savings Allowance.

Up to 1.30% AER*

Personal Savings

Easy Access Help to Buy: ISA

  • 4.5/5 (10 reviews)

Let’s get you on the property ladder. As a first time buyer you can boost your savings with a Government Bonus and earn tax free interest as you save for your deposit.

Up to 2.00% AER*

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

What is an ISA?

An ISA, or individual savings account, is a savings account where all of the interest earned is tax free and doesn’t form part of your Personal Savings Allowance. 

At the start of each new tax year (6 April), every UK adult receives an ISA allowance. For the 2018/2019 tax year, this allowance is £20,000. You can save the whole allowance in cash, in stocks and shares, in an innovative finance ISA, in a Lifetime ISA or in any combination of these permitted ISA types. Aldermore offers Cash ISAs only.

Most ISA providers only let you open one Cash ISA each tax year, which can restrict your options. With our MaximISA, you can mix and match your Aldermore Cash ISA products, so you can build the perfect ISA package tailored to your needs. So if you don’t have your full allowance available now, you can open a Cash ISA using part of it, and when any additional funds become available you can open further products with the rest.  

If you don’t use all of your allowance during the tax year, it will be lost – it can’t be rolled over to the next tax year. By making sure that you use your ISA allowance each year, your pot of tax free savings can continue to build year on year.

Transferring an ISA

If you want to switch your ISA between providers, for example to take advantage of better interest rates, you should transfer it rather than withdraw your money, otherwise the tax free status of that money will be lost. You can transfer part of your previous tax years ISA savings if you don’t want to transfer it all, but your ISA for the current tax year must be transferred in full.

When you open your Aldermore Cash ISA online, you’ll need to give your instructions for the transfer as part of the account opening process. For Cash ISA transfers we’ll process the transfer electronically where we can, but if you’re transferring a Stocks and Shares ISA or if your current provider can’t process the transfer electronically a separate ISA transfer form may be required. Transfers of Cash ISAs between providers should be completed within a maximum of 15 business days, although we aim to complete these earlier where we can. Transfers of Stocks and Shares ISAs should be completed within 30 business days.

Flexible ISAs

Our Cash ISAs are flexible. This means that you can withdraw money from the current tax year or previous tax years if you need to. You can replace the money you’ve withdrawn without the replacement counting towards your annual ISA subscription limit, providing you replace the funds in the same tax year you withdraw them.

 

Additional Permitted Subscriptions

Where a person holding an ISA dies and that person was married or in a civil partnership, the surviving spouse or civil partner is entitled to an extra ISA allowance equal to the value of the ISA(s) held by the deceased. This is known as the Additional Permitted Subscription (APS) allowance and is available to the spouse or civil partner of an ISA holder who died on or since 3 December 2014. The deceased and the surviving spouse must have been living together at the date of death, and not separated under a court order, under a deed of separation, or in circumstances where the marriage or civil partnership has broken down.

The surviving spouse or civil partner doesn’t have to inherit the funds held in the ISA(s) to use the allowance. They can also choose whether to use the allowance with the same ISA provider(s) or whether to transfer the allowance to a different provider, although not all ISA providers offer accounts for Additional Permitted Subscriptions.  

We accept Additional Permitted Subscriptions into all of our Fixed Rate and Notice Cash ISAs. If you want to use your allowance, please contact us and we’ll provide the forms that you need to complete and help you with any questions that you may have. 

ISAs are subject to HMRC rules and regulations and these are subject to change. Further details can be found at www.hmrc.gov.uk.