Moneybox Cash ISA

Best for saving tools and round-ups.

4.8

Excellent

Rate: 4.39% AER

Trustpilot: 4.5/5

Interest Rate

4.39%

Variable (Bonus)

Access

Limited

3 withdrawals/yr

Min Deposit

£500

To earn top rate

App

Top Rated

Award Winning

Pros

Great app experience with round-up savings
Competitive interest rate including bonus
Excellent customer service
Easy transfer process

Cons

Interest drops if more than 3 withdrawals
Minimum balance of £500 for top rate

Full Verdict

Moneybox is arguably the best savings app in the UK. Their Cash ISA offers a very strong 4.39% AER, although this includes a bonus of 0.94% for the first year. The app makes saving effortless with features like "round-ups" and weekly deposits.

However, it is not a fully flexible "easy access" account in the traditional sense; you are limited to 3 withdrawals per 12 months if you want to keep the high interest rate. It fits best for those building a savings pot who don't need daily access.

Tax-Free Savings? Yes Please.

What is a Cash ISA?

A Cash ISA is just a savings account where the taxman can't touch the interest. You can put in up to £20,000 each tax year. It's the smartest place to keep your emergency fund or short-term savings.

Fixed vs Variable: "Fixed" means you lock your money away for a year (or more) for a guaranteed rate. "Variable" (or Easy Access) means the rate can change, but you can get your money out whenever you want.

Inflation Risk

Cash ISAs are generally low risk and covered by the FSCS (up to £85k). The main risk is inflation. If the interest rate is lower than inflation, the real buying power of your money will go down over time.