A Cash ISA is a type of individual savings account designed to help you earn interest on your savings - but without paying tax on what you earn. It means you keep all your interest, which cumulatively can make a big difference over time. In each tax year, you can deposit up to £20,000 into a Cash ISA, as long as you haven’t used up your allowance elsewhere in other ISA products.

How is the interest calculated on the Moneybox Cash ISA?

Interest on the Moneybox Cash ISA is accrued on a daily basis based on the balance in your account. It is paid to you annually on the anniversary date of your account. Currently, the rate is 5.25% AER variable and includes a 1.05% bonus, so it will drop to 4.20% AER variable after a year. The rate is variable, so the interest you earn could change if Moneybox decides to lower or increase the headline rate. They will inform you before this happens.

Can I transfer existing ISAs to Moneybox?

Yes, you can transfer your existing ISAs to Moneybox easily. You do so through the app in just a few steps, so it’s painless. You can transfer in an existing ISA, whether they are a Cash ISA, a Stocks and Shares ISA. Consolidating your ISAs into one place can be a good idea as it can make managing and keeping track of them that much easier.

How to make your money work harder with Moneybox

Moneybox’s Cash ISA offers a competitive 5.25% AER (variable).
Its app has a number of features and tools that can help you to save, invest and plan financially effectively.
Moneybox is part of the FSCS protection scheme, protecting up to £85,000 per financial institution your money is deposited with.
Over 1.5 million people use Moneybox for building wealth and working towards a range of financial goals

Frequently asked questions: Moneybox

What is a Cash ISA?
A Cash ISA is a type of individual savings account designed to help you earn interest on your savings - but without paying tax on what you earn. It means you keep all your interest, which cumulatively can make a big difference over time. In each tax year, you can deposit up to £20,000 into a Cash ISA, as long as you haven’t used up your allowance elsewhere in other ISA products.
How is the interest calculated on the Moneybox Cash ISA?
Interest on the Moneybox Cash ISA is accrued on a daily basis based on the balance in your account. It is paid to you annually on the anniversary date of your account. Currently, the rate is 5.25% AER variable and includes a 1.05% bonus, so it will drop to 4.20% AER variable after a year. The rate is variable, so the interest you earn could change if Moneybox decides to lower or increase the headline rate. They will inform you before this happens.
Can I transfer existing ISAs to Moneybox?
Yes, you can transfer your existing ISAs to Moneybox easily. You do so through the app in just a few steps, so it’s painless. You can transfer in an existing ISA, whether they are a Cash ISA, a Stocks and Shares ISA. Consolidating your ISAs into one place can be a good idea as it can make managing and keeping track of them that much easier.

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Making your money work as hard as possible is a key route to financial freedom and stability. However, knowing exactly how can be difficult. That’s because there are so many different financial products out there, all structured to help users achieve different financial aims.

If you’re looking for a way to make the most of your money, for life’s unknowns, the Moneybox Cash ISA might be a good option for you. Let’s explore how this product can help you build your wealth for the future (ISA and tax rules apply).

Benefits of Moneybox’s Cash ISA

We like a number of features of Moneybox’s Cash ISA.

They are:

Competitive rates
Flexibility
Ease of use
Transparency and security
Manage and open your account in the app or on their website

Let’s explore them in more detail.

Competitive rates

As of March 2025, the Moneybox Cash ISA offers 5.25% AER (variable) for the first 12 months, which includes a bonus rate of 1.05%. While that is variable (meaning it can change at any time), 5.25% is a competitive rate when looking at the rest of the market. When the first year is over, the bonus rate will be lost, so it drops to 4.20% AER (again this is variable). As with all ISAs, contribute a maximum of £20,000 per tax year, with tax-free gains. One point to note, however, is that if your balance is less than £500 or you make more than 3 withdrawals, your rate will drop to 0.75% AER (variable).

Flexibility

The Moneybox Cash ISA (unlike some on the market) allows you to withdraw your money penalty-free, up to three times a year. For us, that is a key differentiator as some ISA providers may lower your rate after just one withdrawal. It means that whether you are saving for a rainy day or a significant life event, you can feel confident in saving with a Moneybox Cash ISA knowing you can still access a number of times in each 12 month period.

If you make more than three withdrawals a year, your rate from the fourth withdrawal in a 12-month period is 0.75% AER (variable). Your withdrawal allowance resets yearly from the date you opened your Cash ISA.

Ease of use

Opening an ISA isn't always as easy or straightforward as it should be - but it is with Moneybox. There’s a £500 minimum deposit, and you can apply in minutes using the app or on the Moneybox website. If you want to transfer existing ISAs from other providers, that’s also easy to do, so you can consolidate your savings in one place.

Transparency and security

Some providers charge fees for their products, but Moneybox’s Cash ISA doesn’t charge a monthly subscription or any platform fees. It means that any interest you earn stays in your account, helping you to grow your money faster. Plus, your savings are protected up to £85,000 for each financial institution by the Financial Services Compensation Scheme (FSCS), which gives you peace of mind.

Why you can trust Moneybox

When reviewing Moneybox, we were impressed by the company’s approach to making financial security straightforward and accessible. Since it started, it has amassed over 1.5 million users whom can make the most of its award-winning tools and support - helping Moneybox to achieve its mission of supporting people to build wealth with confidence. It has even been rated excellent by Trustpilot.

We also liked other parts of the company’s mission, always maintaining a customer-centric approach. The company seeks to achieve this by bringing together saving, investing, home-buying, and retirement planning all into one app. In doing so, they are defragmenting the financial industry, which can often be confusing and overwhelming.

Crucially, we also liked the company’s commitment to providing education and support. The app is really easy to use, while its countless blogs, guides and articles are clear and understandable - demystifying complex financial ideas. Finally, its customer service team is on hand to answer customer questions, making managing personal finances stress-free.

Other Moneybox savings products

While we thought the Cash ISA was a great product, Moneybox also offers a variety of other accounts and features which can help you meet your financial goals. They include:

General Investment Account
Stocks and Shares ISA
Pension services
Mortgage services

(Moneybox Mortgages is provided by Moneybox Mortgages Ltd).

Let’s explore these briefly.

General Investment Account

This type of account allows you to invest in a wide array of global companies through a selection of equity tracker funds. You can contribute up to £85,000 per week.

Capital at risk. All investing should be regarded as long term. The value of your investments can go up and down, and you may get back less than you invest.

Stocks and Shares ISA

Through a stocks and shares ISA, you can invest your money into a selection of equity tracker funds and US stocks, and all earnings are tax-free (subject to individual tax circumstances!).

Capital at risk. ISA and tax rules apply.

Pension services

Use Moneybox’s pension services to consolidate your old pensions and find any missing ones, helping you plan for retirement more effectively.

As with all investing, your capital is at risk. The value of your pension can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.

Using Moneybox to make your money work harder

Moneybox isn’t just a financial app - it’s a powerful tool that you can leverage to help achieve financial freedom and plan for your future efficiently and effectively. Whether you are looking to save for the short term, or you are planning for your future, you’ll be able to find a Moneybox product that could help you achieve your goal. Its Cash ISA could form one of the building blocks to reaching your aims, while using the other tools, features and products are other helpful ways to establish financial security for your future.

Cash ISA: Interest is accrued daily and paid into your account yearly on the date you opened your Cash ISA. The rate is variable and we’ll inform you if it changes.

All investing should be regarded as long term. The value of your investments and pension can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.

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The content on https://www.pensiontimes.co.uk is provided for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, you should consult a financial adviser that is registered with the Financial Conduct Authority. Any references to products, offers, rates, and services from third parties or those advertised are served by those third parties and are subject to change. We may have financial relationships with some of the companies mentioned on this website. We strive to write accurate and genuine reviews and articles, and all views and opinions expressed are solely those of the authors. We are not regulated by the Financial Conduct Authority to provide advice, to act as an authorised introducer, or to otherwise sell any financial services or products. However, we endeavour to only link to and highlight brands that are authorised and regulated by the Financial Conduct Authority and/or the Prudential Regulation Authority, and where your money will be protected by the Financial Services Compensation Scheme should you choose to buy a product or service from that particular brand.