Wealthify has launched its new easy access Cash ISA, powered by ClearBank.

It boasts a variable interest rate of 4.33% AER / 4.25% tax-free p.a. (variable) which is paid monthly, and is available via Wealthify’s award-winning website and app (also available on Google Play and the Apple App Store).

Please note: the interest rate is correct as at 14/04/2025 and is subject to change.

The Cash ISA is a tax-efficient alternative to a regular savings account, with you being able to take advantage of your £20,000 annual allowance (which can be spread across all the ISAs you hold) to earn tax-free interest. This £20,000 limit only applies to deposits paid into ISAs, and not the profits earned.

The Cash ISA is particularly important in today’s higher interest rate environment, with regular savings accounts requiring you to pay tax on interest exceeding £500 for Higher Rate taxpayers, or £1,000 for Basic Rate taxpayers (the Personal Savings Allowance).

Another useful feature is that Wealthify’s Cash ISA is easy access, meaning customers can withdraw money at any time without penalty.

In addition to this, it’s a Flexible ISA, allowing customers to withdraw and replace funds within the same tax year without it reducing their annual ISA allowance – which is really important if you dip into and replace your savings as they grow through the year.

Wealthify also have an easy ‘transfer in’ process if you already have an ISA and would like to switch to their new Cash ISA.

Wealthify’s CEO, Richard Ambrose, comments:

“Wealthify’s new Cash ISA is a great addition to our growing suite of products – one which will protect your savings from tax and maximise their earning potential.

We hope this prompts people to review the tax they are paying on their savings and consider moving them into a tax-efficient Cash ISA if they can.”

Their Head of Product, Emma Clark, adds:

“Seemingly, the news brings something new and unexpected every day, and people need the flexibility to be able to respond to changes in the economy, stock markets, and their own financial situations quickly. And cash savings can provide steady growth in times of market downturns, which can be reassuring.

With our new Cash ISA, customers can enjoy the flexibility of instant access to their savings, whilst also being able to withdraw and replace funds within the same tax year without impacting their annual ISA allowance.

We believe that ever greater flexibility is the future of financial products, and our Stocks and Shares ISA is now fully flexible too. But of course, with investing, there is the risk that you could get back less than you put in.”

Interest earned in Wealthify’s Cash ISA is accrued daily and paid monthly, and there are no fees or withdrawal charges.

About Wealthify

Founded in 2016, Wealthify offers a range of savings and investment products, including a Self-Invested Personal Pension, Stocks and Shares ISA, General Investment Account, Junior ISA, and Instant Access Savings Account.

With a range of products for people at every stage and from all walks of life, Wealthify is here to build the confidence that comes with being prepared for the worst — and satisfaction of knowing you’re building for the future. Customers can open and manage their account using our simple, award-winning app or website.

As always with investing, capital is at risk. Tax treatments depend on your individual circumstances and may change in the future.

Wealthify is authorised and regulated by the Financial Conduct Authority (FCA).