Trading 212 offering easy access 4.51% as best Cash ISA rates revealed | Personal Finance | Finance
A financial services firm is offering a Cash ISA rate of 4.51% AER, topping a list of the best easy access accounts this week. Trading 212’s no notice Cash ISA Promo Rate account beat Plum’s Cash ISA 4.50% offer by one percentage point to top Moneyfactscompare.co.uk’s weekly ranking.
Megan Notley from Moneyfacts said providers have made “highly competitive” improvements to their rates, including Hodge Bank and Halifax, which have increased the rate on its five-year ISA Saver Fixed. She added: “Last month saw all average fixed ISA rates receive a boost… The average one-year fixed ISA increased from 4.01% at the start of April to 4.17% at the beginning of May, while longer-term ISAs improved to 4.14%.
“These are the highest these average rates have been since October 2024 and January 2024, respectively.”
Caitlyn Eastell, Personal Finance Analyst at Moneyfacts, said ISA savers’ edge continues over people who don’t save in them as one year and longer-term ISA rates outperform alternatives.
She added: “Savers may no longer need to compromise between competitive returns and tax efficiency.”
After Trading 212 and Plum’s easy access rates, Chip follows, with 4.45% AER on its Chip Smart Cash ISA. All three options include a bonus.
Trading 212’s bonus of 0.91% over 12 months is exclusive to savers who apply via Moneyfacts by June 2.
You need to deposit at least £1 and there is unlimited access to the account, with no penalties for dipping into your pot.
Plum’s rate includes a bonus of 1.96% for 12 months for new customers. The minimum opening deposit is also £1.
Chip’s app-only account pays 4.45% on the anniversary of its opening and includes a 0.70% AER bonus for one year.
Moneyfacts said: “Like Trading 212 and Plum’s options, this is a flexible ISA and further additions can be made without restriction.
“However, note that no interest is paid if the account is closed or transferred out before the first anniversary.”
AN ISA (Individual Savings Account) allows you to save up to £20,000 in each tax year without having to pay tax on the interest.
This amount can be saved in a single account or spread across multiple accounts.
