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.
At The Cambridge, our Double Access Cash ISA is an Easy Access Cash ISA designed to balance flexibility with a competitive tax-free rate.
Looking for unlimited 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 only 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
As these accounts are not ISAs, any interest earned may count towards your Personal Savings Allowance.
Use this page to compare our Cash ISA options and find the right level of access for you.
Easy Access Cash ISA rates
If you’re comparing Cash ISA options, the table below shows how The Cambridge's Double Access Cash ISA and 100 Day Notice ISA compare with a typical Instant Access Cash ISA available elsewhere in the market.
If you're comparing Easy Access Cash ISA rates, the table below shows a quick comparison of how each option works:
|
100 Day Notice ISA |
Double Access ISA |
Typical Instant Access ISA (features may vary by provider) |
| Best for: Planned withdrawals without fees | Best for: Occasional access to your savings without fees | Best for: Full access to savings at any time |
| 3.55% Tax-Free* p.a./AER% | 4.10% Tax-free p.a./AER%** | Variable interest rates |
| Variable interest rate † | Variable interest rate | Variable interest rate |
| Minimum investment £500 | Minimum investment £100 | Minimum investment varies by provider |
| 100 days’ notice for withdrawals, or immediate access with a 100 day interest penalty | Two withdrawals each calendar year without notice or fees | Instant access without notice or withdrawal penalties |
| Find out more | Find out more |
* The Tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.
** The Annual Equivalent Rate (AER) shows the percentage of interest if it was added to your account each year. Interest will be paid annually on the 31st December.
† Variable interest rates means rates can go up or down.
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.
Your eligibility
You can open a Cash ISA with The Cambridge if you meet ISA scheme criteria:
- Age 18 or over
- UK resident for tax purposes
- Able to stay within your annual ISA allowance
Some people working overseas in the Crown service, along with their spouse or civil partner, may also be eligible
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 ISAs when you need it, although how this works will depend on the type of account you have chosen.
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.
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.
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