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.
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.
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.
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.
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