Cash ISA - Fixed & Variable Rate

0.30% AER

Rate above is for the one year Fixed Rate ISA term. Other terms and rates are available (including loyalty rates for existing customers).


  • A choice of 1, 2 and 3 year fixed term rates and/or a variable rate all under one roof
  • Tax-free interest rates
  • Transfers in accepted from cash ISA's from the following providers.
  • Interest paid annually

Keep in mind

  • If you apply for a fixed rate term we’ll also open a variable rate ISA for you but you don’t need to use it
  • Early closure of a fixed rate term is subject to 180 days loss of interest
  • You can make withdrawals from the variable rate ISA at any time without notice or charge
  • To access your account online you will need to use an Authentication device. Please see here for more details.

How to apply

  • Cash ISA is currently unavailable. New applications will open in the new tax year.
  • Please note, the previous tax year ended on 5th April 2021. Click here for our ISA subscriptions/application cut off dates and additional information.

Cash ISA is currently unavailable

Cash ISA will return to sale in the new tax year.

Summary Box and Key Product Information

What is the interest rate?

Interest rates
    Loyalty rates Advertised rates
  Term Tax-free AER Tax-free AER
Fixed rate 1 year 0.45% 0.45% 0.30% 0.30%
2 years 0.55% 0.55% 0.35% 0.35%
3 years 0.65% 0.65% 0.45% 0.45%
Variable rate N/A





  • If you have been a customer for six months or more, you automatically receive our loyalty rate when you deposit or reinvest in an eligible product.
  • Interest is calculated daily on the cleared balance in your account.
  • Fixed rate interest is paid annually on the anniversary of the start of the fixed term or on early termination of a fixed term and paid into the Cash ISA.
  • Variable rate interest is paid annually on the last working day of March and paid into the Cash ISA.
  • If you transfer your ISA to us from another provider we will calculate your interest from the transfer date to ensure that you do not lose out on any interest.

Can Cynergy Bank change the interest rate?

  • For funds earning a fixed rate of interest the interest rate is fixed for the entirety of the fixed term.
  • For funds earning a variable rate of interest the interest rate may change. If we change the interest rate to your advantage we may make the change immediately and will notify you within a reasonable time of the change taking effect. Where we make a change to the interest rate that is not to your advantage, we will notify you not less than 14 days before the change takes effect. Where the balance of your account is less than £100, we will not be required to give you notice ahead of making a change. Please see the ISA Conditions for further details.

What would the estimated balance be after 12 months, based on a £1,000 deposit?

The estimated balances are based on interest being paid annually and added to the balance and assumes no further deposits or withdrawals are made. They are provided for illustrative purposes only and do not take into account a customer’s individual circumstances and any changes to the variable interest rate.

Interest rates

Advertised rate


Loyalty rate


On maturity, based on a £1,000 deposit?
1 year term -fixed rate



2 year term -fixed rate £1,007.01


3 year term - fixed rate £1,013.56


After 12 months, based on a £1,000 deposit?

Variable Rate



How do I open and manage my account?

  • To open a Cash ISA you must be at least 16 years old and a UK resident for tax purposes or be performing duties as a Crown employee, or be married to, or in a civil partnership with such person.
  • To open a Cash ISA you must apply online.
  • The investment limit is £20,000 for the tax year from 6 April 2021 to 5 April 2022.
  • You may only subscribe to one Cash ISA in a single tax year (although in such year you may also invest in Stocks and Shares ISA, Innovative Finance ISA and /or Lifetime ISA, subject to overall ISA limits). Cynergy Bank currently offers only a Cash ISA.
  • You can deposit between £500 and £20,000 for a new investment in a Cash ISA or £500 and upwards for a transfer. Our Cash ISA can only accept transfers in of cash ISA’s from ISA providers who are members of BACS and can support the BACS Cash ISA transfer in process. Please see here for a full list of the providers who we are able to accept transfers from.
  • You can choose to open a Variable Rate ISA or a Fixed Rate ISA.
  • When you open a Fixed Rate ISA we will automatically open a variable rate ISA for any additional funds you wish to top up (in addition to your fixed funds) up to your ISA limit (subject to a minimum of £100 per deposit). You do not need to use the Variable Rate ISA if you do not wish to do so.
  • You can choose one fixed rate each tax year except when transferring previous tax year ISA funds where you can fix the rate for each transfer you make. You can fix any amount from £500 upwards.
  • You can manage your account in the following ways: online post or over the phone.
  • You can use Online Banking to manage your account and make withdrawals.
  • For added security, when you use Online Banking, you’ll need to download and register our Authenticator App (available for free on Google Play or the Apple App Store) or request a Digipass®.
  • You will need access to the Authenticator App or Digipass every time you login and make any actions on your account. This added security step helps us know that it is you making the transaction so we can keep your account safe. For more information about Authentication and guidance help, please see our guidance pages here.

Can I withdraw money?

  • We hope you’re happy with your Cash ISA, however if you change your mind you can cancel it free of charge within 14 days of the start date of your Cash ISA. The right to cancel applies to new Cash ISAs, fixed term Cash ISAs and renewals.
  • After the 14 day cancellation period you are only entitled to withdraw funds in the following circumstances:
    • Fixed Rate: If you withdraw your funds before the end of your fixed term you will be charged an early breakage fee. Fee-free withdrawals are permitted at the end of the fixed term. If you break the fixed term we will charge a fee equivalent to 180 days’ interest on the amount invested in the Fixed Term. This means if you close your Fixed Rate ISA within the first 180 days you may get back less than you originally deposited. Fixed rates are automatically renewed at the end of the fixed term for a further fixed term. We will write to you 14 days before the renewal date to remind you of your options.
    • Variable rate: You can make withdrawals at any time without notice or charge.
  • Fixed rates are automatically renewed at the end of the fixed term for a further fixed term. We will write to you 14 days before the renewal date to remind you of your options.

Additional Information

  • Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
  • The tax treatment and the rate of interest payable depend on individual circumstances and may be subject to change in the future.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Cash ISA in currently unavailable

Cash ISA will return to sale in the new tax year.

SC AWARDS 2020 HIGHLY COMMENDED Best Short Term Fixed Rate Cash ISA

Award winning savings

Cynergy Bank was Highly Commended for 'Best Short Term Fixed Rate Cash ISA Provider'.

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Looking for a better deal?

If you can put your money away for one year or more, you could earn a better rate on your savings. Find out more about our Fixed Rate Bonds.