Online ISA (Issue 24)


Tax-free/AER variable




  • Open with £1
  • Transfers in accepted from cash ISA's at time of application from the following providers
  • Easy access withdrawals 24/7
  • Competitive tax-free savings rate
  • Use your 2022/23 cash ISA allowance

Keep in mind

  • All external withdrawals are paid to your nominated account
  • You can only transfer in ISA's at the time you open your account
  • This isn’t a Flexible ISA – any money you withdraw in a tax year can’t be replaced
  • To access your account online you will need to use an Authentication device. Please see here for more details.

How to apply

  • Apply and manage online 24/7 only

Apply in just 10 minutes

Please read the Conditions and Summary Box below before you apply to ensure you understand the features and conditions of the account.

Summary Box and Key Product Information

What is the interest rate?


1.40% tax-free/AER variable.

Rates shown are for accounts opened on and after 4.30pm on Tuesday 5 July 2022.

Interest is calculated daily on the cleared balance in your account and paid annually on the last working day of March. Interest is added to the account balance.

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?

Yes, 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 Online ISA Conditions for further details.

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

Estimated balance after the first 12 months

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

How do I open and manage my account?

Personal customers must be at least 18 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.

The new investment limit is £20,000 for the tax year from 6 April 2022 to 5 April 2023.

The Online ISA is a cash ISA. You may only subscribe to one cash ISA in a single tax year (although in such year you may also invest in a Stocks and Shares ISA, Innovative Finance ISA and /or Lifetime ISA, subject to overall ISA limits).

You can deposit between £1 and £20,000 for a new investment or £1 and upwards for a transfer using the ISA transfer in process.

Our Online ISA can only accept transfers-in of Cash ISAs from ISA providers who are members of BACS and can support the BACS Cash ISA transfer process. Please see here for a full list of the providers who we are able to accept Cash ISA transfers from.

If you wish to make a transfer into the product you must do at the point of application. You cannot transfer any ISA’s to the Online ISA once it has opened, so please ensure that you submit any transfers at the time of application.

You can make further deposits into your Online ISA as long as they are within your ISA annual subscription limit. Deposits must be made electronically. Cash, cheque or debit card deposits cannot be accepted.

You can only use Online Banking to manage your account. We are unable to take transaction requests by post or over the phone. This is a paperless product and therefore we will send all communications electronically. 

To 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.

You can contact us by secure message via Online Banking, by telephone or in writing using the address or other contact details we have given you or which appear on our website.

Can I withdraw money?

You can make unlimited withdrawals from your Online ISA without notice, penalty or fees.

This is not a Flexible ISA. This means that any money withdrawn cannot be replaced without counting towards your annual subscription limit.

Withdrawals can only be made via Online Banking to your nominated account, or to another eligible Cynergy Bank account in your name.

You can transfer your Online ISA funds to another ISA provider without affecting your overall annual subscription limit using your new provider's ISA transfer process. If you hold more than one type of ISA, you must stay within the overall ISA limit.

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.

Please read the important information below before applying:

Cynergy Bank Privacy Policy

FSCS Information Sheet / Exclusions List

Online ISA Conditions

Apply in just 10 minutes

Please read the Conditions and Summary Box below before you apply to ensure you understand the features and conditions of the account.

Best Variable Rate ISA Provider Moneynet V1

Award winning savings

Cynergy Bank has been awarded ‘Best Variable Rate ISA Provider’ at the Moneynet Awards 2022.

Award winning savings


Cynergy Bank are pleased to announce we have been awarded ‘Best Variable Rate Cash ISA Provider’ at the Savings Champion Awards 2022.

Read More

Award winning savings

Untitled 1 Recovered

Cynergy Bank has been awarded ‘Best Variable Rate Cash ISA Provider’ at the Savings Champion Awards 2021.

Pfa 2020 21 Winners Logo Best Online Savings Provider Moved

Award winning savings

Cynergy Bank has been awarded ‘Best Online Savings Provider’ at the Personal Finance Awards 2020/21.

Read More

Your deposits are protected

Read More

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.