Cash ISA race sees rates surge to 4.67% as platforms compete for top position
The Battle for the Best Cash Isa Rates
The competition among cash Isa providers has intensified, with several platforms offering some of the highest interest rates seen in recent months. This new wave of promotions gives savers a range of options to choose from, especially as the government is reportedly considering reducing the cash Isa allowance at the upcoming Budget on 26 November.
Current Promotions and Offers
Several providers have launched attractive deals to entice new customers:
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Etoro is currently offering a promotional rate of 4.67% for new Isa customers, which includes a 12-month boost. After the initial year, the rate drops to 3.67%. However, there are conditions: the account must be opened with at least £500, and transfers must land in the account by 31 January 2026.
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Trading 212 has raised its boosted rate to 4.56%, which comes with a 0.71% bonus for new customers. It's known for being a flexible Isa, allowing withdrawals and replacements without affecting the overall allowance.
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Hargreaves Lansdown is offering a straightforward 4.55% rate. While it doesn’t include a boost, it’s a good option for those who have already used up introductory offers from other providers. However, the transfer process can be a bit complicated, requiring an initial deposit of £1 before moving funds to a stocks and shares Isa.
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Moneybox is providing a 4.47% rate with a 0.77% boost for 12 months. However, the rate drops significantly after three withdrawals or if the balance falls below £500.
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Plum is offering a 4.45% rate along with a £20 gift card for new customers who sign up using an exclusive link. The offer requires a minimum balance of £1,000 after three months to qualify for the reward.
Key Features of Each Provider
Here’s a quick overview of the features of each provider:
- Etoro: 4.67% (boosted for 12 months) – Includes a fixed bonus for 12 months, but the rate drops to 3.67% afterward. Requires a minimum deposit of £500 and a transfer of £15,000 by 31 January 2026.
- Trading 212: 4.56% (0.71% boost for 12 months) – Flexible Isa with no withdrawal restrictions.
- Hargreaves Lansdown: 4.55% – Straightforward rate with no boosts, but requires a specific transfer process.
- Moneybox: 4.47% (0.77% boost for 12 months) – Rate drops after three withdrawals or if the balance falls below £500.
- Plum: 4.45% with £20 gift card (1.41% boost for 12 months) – No withdrawal penalties, but requires a minimum balance of £1,000 after three months.
Comparison Table
| Provider | Boosted Rate | Underlying Rate | Minimum Deposit | Withdrawal Restrictions | Flexible (Withdraw and Replace) |
|---|---|---|---|---|---|
| Etoro | 4.67% (3.87% existing customers) | 3.67% | £500 | Rate drops after three withdrawals | No |
| Trading 212 | 4.56% | 3.85% | £1 | None | Yes |
| Hargreaves Lansdown | 4.55% | 3.85% | £1 | None | No |
| Moneybox | 4.47% (0.77% boost) | 3.04% | £500 | Rate drops after three withdrawals | No |
| Plum | 4.45% | 3.04% | £1 | None | No |
Additional Considerations
Most of the providers listed here are primarily investment platforms, and opening a cash Isa may lead to attempts to encourage investment. Before proceeding, it’s advisable to read guides on the best investing platforms and stocks and shares Isas.
Additionally, Etoro and Trading 212 offer CFD (contract for difference) trading, which involves complex instruments and is very risky. These are generally not recommended for novice investors.
For more information on the latest deals and updates, check out the regularly updated cash Isa savings tables. With so many options available, savers now have a greater degree of choice in where to place their money and make the most of the current £20,000 allowance.
