Plum Cash ISA

Smart automation for your savings.

4.4

Smart

Rate: 4.36% AER

Trustpilot: 4.4/5

Interest Rate

4.36%

Variable

Access

Easy

Unlimited

Min Deposit

£1

Low barrier

AI Savings

Yes

Auto-stash

Pros

High interest rate of 4.36% AER
AI algorithm automatically saves for you
Easy access to your money
Clean, modern mobile app

Cons

Some advanced features require a monthly subscription
Customer support is mainly via chat

Full Verdict

Plum is more than just an ISA; it's a smart money assistant. Their Cash ISA offering is competitive at 4.36% AER and is backed by Citi, providing security. The real selling point is the automation—Plum analyzes your spending and automatically moves safe amounts into your ISA.

For users who struggle to save consecutively, Plum is a game changer. The rate is competitive for an easy access account, making it a great "set and forget" option.

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.