Compare cash ISA savings accounts

The Cynergy Bank 1 Year Fixed Rate ISA offers a straightforward savings solution for those looking to lock in a competitive return on their tax-free savings. As a fixed-term account, it is designed for individuals who can commit their funds for a full 12 months. This account benefits from being an ISA wrapper, meaning all interest earned is free from UK income tax, making it an attractive option for maximising your returns within your annual ISA allowance. Managed conveniently online, it also supports joint accounts and is fully protected by the Financial Services Compensation Scheme (FSCS), ensuring peace of mind for your deposits. This Fixed Rate ISA boasts a strong interest rate of 5.00% AER/Gross, which is fixed for the entire 12-month term. Interest is paid annually, providing a predictable return on your investment. To open this account, a minimum initial deposit of £500 is required, making it accessible to a wide range of savers. While the maximum initial deposit is unlimited, the overall maximum balance allowed in the account is £1,000,000. It's crucial to understand the access rules associated with this fixed-term product. The Cynergy Bank 1 Year Fixed Rate ISA does not permit any withdrawals prior to the account's maturity date. Similarly, early closure of the account is not allowed. This strict withdrawal policy underpins the higher fixed interest rate offered, so it's essential to be comfortable committing your funds for the full year. Eligibility requirements include being a permanent UK resident and at least 18 years old.