How does the Cash ISA interest rate work?

Interest for your Cash ISA is calculated on a daily basis, and is paid annually, on the anniversary of your account opening.

How is interest displayed in the app?

You can also keep track of how much interest you’ve earnt today in the app, by viewing your ‘today’s interest’ figure in the Accounts tab. You’ll see this increase when any pending deposit(s) have been fully deposited with the partner banks who power your Cash ISA.

For deposits made through our weekly collection cycle, your ‘today’s interest’ typically updates on the Thursday after the funds leave your bank account. If you deposit via instant bank transfer, transfer in an ISA from another provider, or move money from another Moneybox account, this will typically occur the next working day after the funds arrive in  your Cash ISA balance.

Moneybox Cash ISA interest rules

A lower interest rate of 0.75% AER (variable) applies whenever your account balance is less than £500, and you’ll temporarily lose the bonus rate until your balance increases to £500 or more. Once your balance increases to above £500, you’ll see your rate update in the app within 24 hours.

There’s no limit to the number of withdrawals you can make, but if you withdraw four or more times within each 12-month period from the date of opening your Cash ISA, you’ll receive the lower rate for the rest of that period and lose the bonus rate if this is within your first 12 months. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your Cash ISA.

If you request a full withdrawal, or a full transfer out to another provider, we’ll prepay any interest you’ve earnt to date. 

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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.

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