Online ISA (Issue 44)

This is the latest Issue offered by Cynergy Bank. The interest rates on different issues can vary – both upwards and downwards. Our latest Issue rate will always be displayed on this page and may be different to the rate on the product you hold.


5.00% AER*/Tax-Free/Variable

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.




  • 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 2023/24 cash ISA allowance

Keep in mind

  • You must provide a National Insurance Number to apply.
  • 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.

How to manage your account

  • Online banking only
  • You will be automatically enrolled to use the online banking service

Who this product may be suitable for

  • Suitable if you want access to your money at any time.
  • Suitable if you pay tax on your savings

Who this product may not be suitable for

  • May not be suitable if you want a fixed long-term investment.
  • May not be suitable if you are unable to use Online Banking
  • May not be suitable if you want to withdraw and reinvest in the same tax year
  • May not be suitable if you don’t pay tax on savings

Please read the Personal Savings Account Terms and Conditions along with the Product Terms and Conditions and Summary Box below before you apply to ensure you understand the features and conditions of the account.

Apply in minutes.

Summary Box and Key Product Information

What is the interest rate?


5.00% tax-free/AER variable.

Rates shown are for accounts opened on and after 4:00pm Wednesday 29 November 2023.

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.

Please note that if the interest rate of your specific issue changes and that change is 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 rate that is not in your advantage, we will notify you no less than 14 days before the change takes effect.

If 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 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.

You must provide a National Insurance Number to apply.

The new investment limit is £20,000 for the tax year from 6 April 2023 to 5 April 2024.

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 or request to close 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 and closure requests 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.

We may periodically launch new savings product issues which are given designated issue numbers. Individual product issues each have their own interest rate, these may vary from the prior/proceeding issues; either upwards or downwards.

We suggest customers check our website to see the latest available issue and if you wish to open a new product issue / savings then you can apply through our website or Online Banking.

We publish all current and historic issue interest rates on our website ( and within Online Banking if you hold one of our existing products.

Please read the important information below before applying:

Cynergy Bank Privacy Policy

FSCS Information Sheet / Exclusions List

Online ISA Conditions

Historic Interest Rates


Please read the Personal Savings Account Terms and Conditions along with the Product Terms and Conditions and Summary Box above before you apply to ensure you understand the features and conditions of the account.

Apply in minutes.

SC AWARDS 2024 WINNER 2.29 200 Px

Savings Champion Awards 2024

Cynergy Bank has been awarded ‘Best Easy Access Cash ISA Provider’ at the Savings Champion Awards 2024.

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PFA 2023 24 Winners Logo Best Online Savings Provider 01 200Px

Personal Finance Awards 2023/24

Cynergy Bank has been awarded ‘Best Online Savings Provider’ at the Personal Finance Awards 2023/24.

Read More

Your deposits are protected

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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.