Can The Cambridge change the interest rate?

Yes – on some Cash ISA products, interest rates are variable and can go up or down. That means we may change the interest rate if we reasonably believe it is needed, for example due to changes in the wider savings market. If the rate changes, your account remains open and your savings continue to earn tax-free interest. We do also offer fixed rate ISAs, where the interest rate is fixed until the maturity date, meaning it won’t go up or down during the fixed term. Full details of when and how rates can change are explained in section 10 of our Terms and Conditions for Savers .

What happens when an Easy Access Cash ISA matures?

Easy access Cash ISAs do not have a fixed maturity date – your account stays open and continues to earn interest until you choose to close it, transfer it, or move your savings elsewhere.

What’s the difference between an Easy Access and Fixed Rate Cash ISA?

The main difference is flexibility versus certainty. Easy Access Cash ISAs usually offer variable interest and flexible withdrawals, whilst Fixed Rate Cash ISAs offer a guaranteed interest rate for a fixed term. Easy access Cash ISAs are typically the preferred option if you want the flexibility to withdraw money when you need it, either instantly or with notice. However, the interest rate can change over time. On the other hand, a Fixed Rate Cash ISA offers a guaranteed interest rate for a set term, and is typically the best choice if you want certainty about how much your savings will earn. With The Cambridge’s fixed rate accounts, early access is possible, but it can result in an interest penalty fee.

What’s the difference between Instant Access Savings Accounts and an Instant Access ISA?

Instant access means both accounts allow you to access your money easily – the key difference is tax. An Instant Access Cash ISA pays interest tax-free, meaning you keep all the interest you earn. Please note: If you move outside the UK and pay tax in a different country then please check the rules An Instant Access Savings Account does not have ISA tax protection, so interest may be taxable if it exceeds your Personal Savings Allowance . For many savers, this makes an Instant Access Cash ISA a more tax-efficient option.

Are Instant Access ISAs suitable for over 60s?

Yes, Instant Access Cash ISAs are often a popular choice for older savers, including those aged over 60, as they combine the benefit of earning tax-free interest with the reassurance of knowing your savings are easily accessible when you need them. Because there is no notice period or penalty for withdrawals, Instant Access Cash ISAs can be a particularly helpful type of ISA if you want funds available for unexpected expenses or changes in circumstances

email me print

Savings

Easy Access Cash ISAs

Q: What is an Easy Access Cash ISA?

An Easy Access Cash ISA is a tax-free savings account that allows you to access your money when you need it, either instantly or subject to the product terms and conditions. Easy Access Cash ISAs usually have variable interest rates, meaning the rate can change over time.

What is an Easy Access Cash ISA?

An Easy Access Cash ISA is a tax-free savings account that lets you access your money without locking it away for a fixed term.

Some Easy Access Cash ISAs allow unlimited withdrawals, while others place limits on how often you can take money out without penalty.

Easy Access Cash ISAs are designed to balance tax-free savings with flexible access your money.

At The Cambridge, our Double Access Cash ISA allows up to two withdrawals each calendar year without penalty.

What’s the difference between Easy Access and Instant Access Cash ISAs?

Easy Access and Instant Access Cash ISAs are very similar, which can sometimes make the difference confusing.

Both types of ISA allow you to access your savings without locking your money away for a fixed-term. However, the level of access can vary between accounts and providers.

Some Instant Access Cash ISAs allow unlimited withdrawals whenever you need them, while Easy Access ISAs may include limits on withdrawals or other account conditions.

View our range of Cash ISAs.

Looking for more access to your savings?

If unlimited access to your money is important to you, our Instant Access Saver may be more suitable.

This account allows unlimited withdrawals without notice or fees after the first seven days. Unlike a Cash ISA, interest earned is not automatically tax-free and may count towards your Personal Savings Allowance.

View our Instant Access account.

We also offer savings accounts designed for savers who may need occasional access to their money:

Your Saver - one withdrawal per calendar month without notice or fees
Double Access Saver - two withdrawals each calendar year without notice or fees. Additional withdrawals will be subject to a 120 day interest penalty fee.

Find out more about each account below, including eligibility, features and how to apply.

Your Saver

3.65%

Gross p.a./AER%

Double Access Saver

4.10%

Gross p.a./AER%

Compare Cash ISA types

Use the information below to Compare Cash ISA options section and find the right level of access for you.

Different Cash ISA types are designed to meet different savings needs. The table below provides a general guide to help you compare Cash ISA types and understand some the key features considerations for each option.

If you want to...	Consider	Things to think about
Access to your savings whenever you need them	Easy Access Cash ISA	Rates may be lower than account accounts with restrictions or fixed rates
Make occasional withdrawals	Limited Access Cash ISA	Check how many withdrawals are allowed before applying
Leave your money untouched for longer	Notice Cash ISA	You'll need to give the required notice or pay an interest penalty
Know exactly what interest rate you'll earn for a set period	Fixed Rate Cash ISA	Your money may be locked away until the end of the term or subject to penalties if you withdraw early

View our Cash ISA range to compare current rates and features

Features, interest rates, eligibility criteria may vary between accounts and providers.

Products are subject to availability and may be withdrawn without notice.

Why choose a Cash ISA with limited access?

Cash ISAs with limited access may sometimes offer higher interest rates than accounts with unlimited access, while still allowing occasional access to your savings when needed.

Fixed Rate ISAs

Savers looking for more certainty over flexibility may also consider Fixed Rate ISAs, which offer a fixed interest rate for a set period. The Cambridge offers a range of Fixed Rate ISAs for savers who prioritise certainty over flexibility.

Our fixed rate cash ISAs are available over different terms, with a minimum deposit of £500 and interest paid annually, on 31st December and at maturity.

Products are subject to availability and may be withdrawn without notice.

1 Year Fixed Rate ISA

4.35%

Tax-free p.a./AER%

Members' 2 Year Fixed Rate ISA

4.45%

Tax-free p.a./AER%

18 Month Fixed Rate ISA

4.40%

Tax-free p.a./AER%

Your eligibility

You can open a Cash ISA with The Cambridge if you meet ISA criteria:

Age 18 or over
UK resident for tax purposes
Serving overseas in the Armed Forces or Crown Service, or the spouse or civil partner of someone who is

Our ISA allowance guide explains the rules in full.

Opening a Cash ISA with The Cambridge

You can open and manage a Cash ISA with us:

online (selected accounts only)
in branch
by phone
by post

Minimum deposits and account features will vary depending on the type of ISA you choose.

You may also transfer funds from an existing ISA held with another provider or with The Cambridge.

Making withdrawals from a Cash ISA

You can withdraw money from your Cash ISA with us, although the options available and any charges or penalties will depend on the type of account you have chosen. For example, sone account require notice or apply an interest penalty fee if you withdraw early.

For example, with a 100 Day Notice ISA, you can choose to:

give 100 days’ notice to withdraw your money, or
withdraw funds immediately and pay a 100-day interest penalty fee.

The interest penalty is calculated on the amount withdrawn and is taken from the interest earned, not from your original savings.

Withdrawals can be made online, by phone, in branch, depending on the account.

The Cambridge Cash ISAs are not flexible ISAs. This means that if you withdraw money and have already used your full allowance for the tax year, you won't be able to replace those funds during the same tax year. As this will exceed your allowance.

Frequently Asked Questions

We can work it out

If you need guidance choosing the right ISA for you, or you would like to talk through all your savings options at The Cambridge, we're here to help.

Just pop into your local branch or call us on 0345 601 3344 and let’s chat about how to get the most out of your money.

Together, we can work it out.

We can work it out

If you need guidance choosing the right ISA for you, or you would like to talk through all your savings options at The Cambridge, we're here to help.

Just pop into your local branch or call us on 0345 601 3344 and let’s chat about how to get the most out of your money.

Together, we can work it out.

email me print

Send me details

of the Easy Access Cash ISAs

If you do not receive the email with the information attached in a few minutes, please check your "junk mail" or "spam" folder.

We promise not to give your email to anyone else or use it for any other purpose than delivering the requested information.