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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.

But you can’t spread your ISA allowance in Cash ISAs with different providers in the same tax year.

That means you can use your £20,000 in multiple cash ISAs with Paragon. But, you can’t use your allowance in cash ISAs with more than one provider in the same tax year.

Our award winning Cash ISAs

Fixed Rate Cash ISAs

Defined Access Cash ISA

Easy Access Cash ISA

The transfer was much quicker than anticipated...The account was easy-to-set up and the system is easy-to-use

- Greg Haycock

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

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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