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Easy Access ISAs

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An Easy Access Cash ISA is a savings account that allows you to put money away without paying tax on the interest you earn. You can save up to your annual ISA allowance, and our Easy Access Cash ISAs allow flexible withdrawals and transfers from other ISAs, so you'll have access to your money when you need it, without being charged a penalty fee.

Our range of Easy Access Cash ISAs

Account name Interest rate Product overview Ways to apply
Cash ISA Saver Issue 23
3.30% tax-free pa/AER variable
  • Save from £1
  • Flexible withdrawals permitted
Find out more
Step Up Cash ISA Saver Issue 3
3.30% to 4.35% tax-free pa/AER variable
Dependent on the account balance
  • Save from £1
  • Flexible withdrawals permitted
Find out more

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. All ISA interest is paid tax-free, which means it’s exempt from income tax. We pay all non-ISA savings interest gross, which means no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in the future.

Please be aware that products can be withdrawn at any time and without notice.

Key things to know about Easy Access Cash ISAs

  • You can open an Easy Access Cash ISA if you’re 18 or over, a UK resident, and have a National Insurance number.
  • You won’t pay any tax on the interest you earn in your Easy Access Cash ISA.
  • The annual ISA allowance for the current tax year is £20,000.
  • You can access your money easily, without penalty fees for doing so.
  • You can regularly add to your Easy Access Cash ISA throughout the year, up to your annual ISA allowance.

Is an Easy Access Cash ISA right for you?

An Easy Access Cash ISA might be a great fit if you want to benefit from tax-free savings but also value flexibility. Think about the following:

  • Do you need the option to access money when you need it?
  • Would you like to make additional contributions to your savings throughout the year?
  • Are you looking to avoid being locked into your savings for a fixed period?

    • If your answers are mostly “yes,” an Easy Access Cash ISA could be the right choice. This account lets you earn tax-free interest on your savings while maintaining the freedom to withdraw money should you need it. If you're still unsure, you can book a FREE My Money Review and speak to one of our experienced colleagues.

    Understanding Easy Access Cash ISA rates – how they affect your returns

    Interest rates play a crucial role in how much your savings grow over time. Let’s consider an example:

    • Imagine you open an Easy Access Cash ISA with an initial deposit of £1,000 and the current interest rate is 3.8% tax-free/AER variable.
    • Assuming no further deposits or withdrawals are made, and the interest is paid annually into the same account, after 12 months, your estimated balance would be around £1,038.

    Please note that this is just an illustrative example and the actual balance may vary based on:

    • The date your account is opened and starts earning interest.
    • The method used to deposit funds (debit card or cheque may take longer to clear and start earning interest).
    • Any changes to interest rates during the year.

    Frequently asked questions

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    What is an Easy Access Cash ISA?

    An Easy Access Cash ISA is a savings account that allows you to put money away without paying tax on the interest you earn. You can save up to your annual ISA allowance, but it also allows you to have access to your money when you need it, without being charged a penalty fee.

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    What are the advantages of Easy Access Cash ISAs?

    The main benefit of an Easy Access Cash ISA is the option to use your annual ISA allowance, meaning you won’t pay tax on the interest you will earn on your savings. Other benefits include having the ability to access your money when you need it (not available at weekends) without having to pay a withdrawal charge and being able to pay into the account over time.

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    Are Easy Access Cash ISAs flexible?

    All our Easy Access Cash ISAs are flexible, meaning withdrawals and deposits won’t affect your annual ISA allowance, as long as these are made within the same tax year and the account remains open. This might not be the case with other providers, so if you want your ISA flexible you will need to check with them.

    For example, if you pay £15,000 of your £20,000 ISA allowance into a flexible ISA during the current tax year and you decide to withdraw £10,000, you could still pay in a further £15,000 in the tax year (your £10,000 re-deposited and the remaining £5,000 of your £20,000 allowance).  You just have to make sure payments are put back into the same account and in the same tax year as the withdrawal.

    If you have any questions about what makes an ISA flexible, you can read more on our flexible ISAs page.

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    Who can open an Easy Access Cash ISA?

    To apply for an Easy Access ISA with Skipton Building Society you must be 18 and over, a UK resident and have a National Insurance number.

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    Can interest rates change on an Easy Access Cash ISA?

    While we can’t predict the future, interest rates can sometimes rise depending on various economic factors. Keep in mind that your Easy Access Cash ISA interest rate could also decrease.

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    Can I transfer ISAs from other providers?

    If the terms of your account allow it, you can transfer money from one ISA to another by completing an ISA transfer form. By moving your money this way your money keeps its tax-free status. To find out more about how to do this on our ISA transfer page.

    Other ways to save

    If an Easy Access ISA is not right for you we have a range of other types of savings accounts.

    • Easy Access accounts
    • Fixed Rate Bonds
    • Fixed Rate ISAs
    • Compare savings accounts

    You're protected up to £85,000

    Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

    Learn more about the FSCS

    FSCS - Protecting Your Money

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    Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice.
    Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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