Fixed rate Cash ISAs tend to give you a better interest rate, but you’ll need to keep your money in the account for a set amount of time. The interest rate is fixed, so you’re guaranteed to earn that rate.
Variable rate Cash ISAs give you more access to your money, but the interest rate can go up or down.
All of our variable rate Cash ISAs are flexible. This means that you can withdraw money from your ISA account and pay it back in later, without affecting your annual ISA allowance – as long as it’s done in the same tax year.
As soon as the tax year ends, your allowance for that tax year ends as well. If you haven’t used all of your allowance, it can’t be rolled over to the next tax year.
Does my ISA allowance affect my Personal Savings Allowance?
The Personal Savings Allowance is the amount of interest you can earn on your savings each year without paying tax. The tax-free interest you earn in an ISA doesn’t count towards your Personal Savings Allowance.