Earn a market-leading 5.09%* AER (variable) with the Moneybox Cash ISA

  • Minimum balance of £500
  • Deposit up to £20,000 each tax year
  • Tax-free interest
  • Up to 3 withdrawals every 12 months without impacting your rate

Open or transfer an account in minutes to build your savings over the long term.

*New customer rate as of 21/11/2023. Subject to conditions, includes bonus rate of 0.94% for first 12 months.

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What is a Cash ISA?

A Cash ISA is an individual savings account that you can use to earn interest on your money. You can save up to £20,000 into a Cash ISA each tax year, and the interest you earn is completely tax-free.

With the Moneybox Cash ISA, you’ll earn a market-leading 5.09%* AER (variable) on balances of £500 or more, which includes a bonus rate of 0.94% for your first 12 months.

A lower interest rate of 0.75% AER (variable) applies whenever your account balance is less than £500. It also applies for the rest of your current 12-month period from your fourth withdrawal. The number of withdrawals you can make without impacting your rate will reset each year on the date you opened your Cash ISA.

How to open a Cash ISA

You can open a Cash ISA in minutes with Moneybox. Simply download the app and deposit a minimum of £500 to get started.

Plus, you can transfer in any ISAs you hold with other providers into a Moneybox Cash ISA, entirely in-app.

Build your savings over the long term, completely tax-free

Grow your long-term savings

Save in a way that works for you with weekly, payday, and one-off deposits, completely tax-free.

Maximise your annual ISA allowance

Achieve your financial goals and make the most of your £20,000 ISA allowance each tax year.

Transfer an ISA in from elsewhere

Transfer any ISAs you hold with other providers into a Moneybox Cash ISA.

Award-winning Cash ISA

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Cash ISA interest rate

You won't pay any monthly subscription or platform fees with the Moneybox Cash ISA.

  • Rate for your first 12 months5.09% AER (variable)

    Includes a bonus rate of 0.94%

  • Rate for each 12-month period after your first 12 months4.15% AER (variable)

    • Rate whenever account balance is less than £500 0.75%

    • Rate from your fourth withdrawal in a 12-month period, which resets yearly on the date you opened your Cash ISA 0.75%

Summary box

Moneybox Cash ISA

Higher Interest Rate (including a bonus interest rate of 0.94% AER for 12 months): 5.09% AER (variable)

  • if you make less than four withdrawals within each 12 month period from the date of opening your Cash ISA; and
  •  maintain a balance of £500 or more.

Higher Interest Rate (after 12 months): 4.15% AER (variable)

  • if you make less than four withdrawals within each 12 month period from the date of opening your Cash ISA; and
  • maintain a balance of £500 or more.

Lower Interest Rate: 0.75% AER (variable)

  • if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA; or
    if your balance is below £500, the lower interest rate will be applied for as long as your balance remains below £500

Interest is accrued daily.

Interest accrued due to the underlying interest rate is paid annually on the product anniversary, rounded down to the nearest penny.

The bonus interest rate will be paid for 365 days (or 366 days in a leap year) from the day you open your first Moneybox Cash ISA.

  • Yes – the underlying interest rate is variable, so it can go up or down.
  • We will inform you as soon as possible of any change to the interest rate.
  • Your interest rate will also change to the lower interest rate exclusive of any bonus interest rate if:
    • your Cash ISA balance is below £500; or
    • you make four or more withdrawals from your Cash ISA account within each 12 month period from the date of opening your Cash ISA. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals.

Estimated balance after 12 months (higher interest rate of 5.09% inclusive of 0.94% bonus interest rate): £1,050.90

This assumes that:

  • The account is opened with £1,000 deposit.
  • No further deposits or withdrawals are made.
  • The interest rate stays the same for the full 12 months.

 

Estimated balance after 12 months (lower interest rate of 0.75%): £967.31

This assumes that:

  • The account is opened with £1,000 deposit, initially accruing interest at the higher rate.
  • Four subsequent withdrawals of £10 are made on the second day of opening the account, triggering the lower rate of interest.

 

Estimated balance after 24 months (higher interest rate of 5.09% (including 0.94% bonus interest rate) applying for first 12 months and then higher interest rate of 4.15% applying for subsequent 12 months): £1,094.51

This assumes that:

  • The account is opened with a £1,000 deposit.
  • No further deposits or withdrawals are made.
  • The higher interest rate stays the same for the full 24 months.

 

Estimated balance after 24 months (lower interest rate of 0.75%): £974.56

This assumes that:

  • The account is opened with £1,000 deposit, initially accruing interest at the higher rate.
  • Four subsequent withdrawals of £10 are made on the second day of opening the account, triggering the lower rate of interest.
  • The account is available to UK residents aged 18 or over.
  • You may only open and manage the account via the Moneybox app.
  • Your Cash ISA account opening date will be the date you open your product.
  • You can transfer in existing ISAs or make contributions up to £20,000 in total each tax year.
  • Joint accounts are not allowed.
  • You can withdraw from your Cash ISA at any time to your linked UK bank account in your name.
  • You can either withdraw the full balance held in your Cash ISA or withdraw part of the balance.
  • Please note that if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA, this will impact the interest applicable to your account. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your account
  • The ISA is a government savings scheme and the rules, including tax benefits, could change in the future.
  • Interest is paid tax-free. This means that you do not pay income tax on the interest earned in the Cash ISA.

Things to note

*5.09% AER (variable) includes a bonus rate of 0.94% for the first 12 months. A lower rate of 0.75% AER (variable) applies if account conditions aren’t met.

Interest is accrued daily and paid into your account yearly on the date you opened your Cash ISA. The rate is variable, and we’ll inform you if it changes.

Risk Warning

It's important you know

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest.

Risk Warning
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