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What is a Cash ISA?

Our Cash ISAs are ‘Individual Savings Accounts’ which allow UK tax payers, aged 18 or over, to earn tax-free interest on their savings.

Watch our video about Cash ISAs to learn more.

Why choose a Cash ISA?

Keep more of the interest you earn with a tax-efficient way to save, meaning you won’t pay any tax on the interest you earn from any ISA.

In each tax year you can pay up to the annual ISA allowance into any type of  ISA, and you won’t pay any tax on the interest you earn. 

You can build the amount of money you hold with tax-free ISA status year on year, and there’s no limit to the amount of interest you can earn on ISA holdings. You can still spend the interest by choosing to have it paid monthly or annually into your nominated bank account rather than into your Paragon Cash ISA.

The annual ISA allowance is the maximum amount of money you can invest in an ISA in a tax year, it’s set by the government and can change. You can’t invest more than your annual ISA allowance into any type of ISA in a tax year. The tax year runs from 6th April to 5th April the following year.

Managing your ISA allowance with Paragon

The ISA allowance is £20,000 and you can use it in any type of ISA.

With Paragon you can spread your £20,000 ISA allowance across our ISA range in the same tax year.

That means you can use your £20,000 in multiple cash ISAs with Paragon.

Our award winning Cash ISAs

Fixed Rate Cash ISAs

Defined Access Cash ISAs

Easy Access Cash ISA

Easy to open an ISA. Simple step by step instructions. Great communication.

- Tracy Green

 Read our savings reviews

ISA Wallet and Flexible ISAs

Our ISA Wallet and Flexible ISAs give you the freedom to spread your annual ISA allowance across our range of cash ISAs.

Any withdrawals you make are added back onto your annual ISA allowance to reinvest with us, so you won’t lose out on your tax free savings.

Learn more

Transferring your ISA

You can easily transfer your existing ISAs from other providers to Paragon.

Learn more about transferring your ISAs through your providers and keep the tax free ISA status on your ISA savings.​

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Personal Savings Allowance

Launched in 2016, the Personal Savings Allowance lets you earn a certain amount of tax free interest on your savings.

If you’re a basic rate taxpayer, you can earn up to £1,000 of tax-free interest. Or, as a higher rate taxpayer you can earn up to £500. But if you pay additional rate tax the personal savings allowance isn’t available to you.

FAQs?

Here you will find the answers to some commonly asked questions relating to our products and services.

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Documents

We've collected all our useful documents in one place for your convenience.

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Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551