5.70% AER* (variable) Cash ISA

A Cash ISA is a tax-free savings account. You don’t pay tax on the interest you earn.

Under rules that came into effect in April 2024, you can now open and pay into multiple Cash ISAs in a tax year, as long as you stay within your annual ISA allowance of £20,000.

Our flexible Cash ISA has all the same benefits as a regular cash ISA. The benefit of a flexible ISA is that you’re able to withdraw and re-deposit the same amount into the same ISA within the same tax year, without affecting your remaining annual ISA allowance.

Yes, CMC Invest is authorised and regulated by the Financial Conduct Authority (FCA) and we have regulatory permissions to hold and control client money.

Learn more about how your money is protected.

Yes, you can. All you have to do is open an account, fill out our transfer form in the app, and we’ll work with your current provider to transfer your cash on your behalf. Learn more about our transfer process.

Your national insurance (NI) number is the identifier used by HMRC to track the ISA allowance used by an individual. We ask for your NI number to help us with our reporting to HMRC.

You can open multiple Cash ISAs, but you can only deposit up to £20,000 across all your ISAs in a single tax year.

The minimum amount you can deposit is £1. You can use your debit card to add funds, but you can’t deposit more than £20,000 in the same tax year.

Our ISAs are flexible, allowing you to withdraw cash from your account and re-deposit it within the same tax year without using additional ISA allowance. To help you track your remaining allowance, your account displays it in real time, factoring in any amounts withdrawn that can be re-deposited. If you withdraw more than you've deposited in the current tax year, your remaining allowance may appear as a negative value, indicating you can deposit more than the usual £20,000 limit.

For example, if you have £15,000 in your Cash ISA from previous years and haven't used any of your £20,000 allowance for the current tax year, withdrawing £5,000 will show your used allowance as -£5,000. Your remaining ISA allowance will then display £25,000, reflecting the amount you can re-deposit this tax year.

Currently, we only offer a flexible Cash ISA and a flexible Stocks & Shares ISA. If you’re interested in us adding other types of ISAs, please let us know using the ‘Send us your feedback’ banner on the home screen in the app.

There are no fees to hold a Cash ISA with us.

For standard withdrawals, it typically takes until the next working day to arrive in your bank, if it’s your first withdrawal, it takes up to two working days. There may be a £15 urgent withdrawal fee if you need your money immediately. For more information, see our costs and fees.

AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest were paid and compounded once each year. To learn more about the difference between AER and gross interest.

Our Cash ISA is variable, which means the rate can go up and down depending on factors such as the Bank of England base rate.

If we change our interest rate, we will notify you via email and in the app.

Interest on your balance is calculated daily and displayed as ‘Pending interest’ in your account until it is paid to you monthly. Your interest is typically paid into your Cash ISA on the 3rd working day of the month, but no later than the 10th working day.

Yes, you can. In the app, all you have to do is tap ‘Add cash’ and then ‘Set up regular deposits’. Use the bank details provided to set up regular online banking payments with your bank to save time with automatic top-ups. Bank transfers are usually instant, but sometimes can take 2 to 3 days to process.