Cash ISAs

Opening a Cash ISA could be one of the best ways to start building up your tax free savings. All of the interest you earn is tax free and doesn’t count towards your Personal Savings Allowance.

Financial Services Compensation Scheme (FSCS) Protected

Whether you want the reassurance of a fixed rate for your lump sum or you want to add to your tax free savings over time, we’ve got 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

Fixed Rate Cash ISAs

Up to 1.35% AER*

Suitable if you:

  • Want all of the interest tax free
  • Have a lump sum to deposit or transfer and won’t want to add money further down the line
  • Want a guaranteed interest rate for the term
  • Accept that there will be a deduction of interest if you need access to your money during the term

Notice Cash ISAs

0.55% AER*

Suitable if you:

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs whenever you like and add money up to the ISA allowance
  • Might need access to your money, but won’t need it instantly

*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 2021/2022 tax year, this allowance is £20,000. You can split the allowance across the different ISA types - cash ISA, stocks and shares ISA, innovative finance ISA and Lifetime ISA - or save the whole allowance in one type of ISA (apart from the Lifetime ISA, which has a limit of £4,000). 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 our 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

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