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Flexible ISAs and ISA Wallet

Our fixed rate, easy access and notice cash ISAs are flexible ISAs and part of our ISA Wallet.

View cash ISAs

ISA Wallet

What is an ISA Wallet?

Our ISA Wallet is also known as an ISA wrapper. It’s a tax wrapper that lets you open more than one cash ISA with us, in the same tax year. Not all providers have an ISA Wallet, and normally you can only open one cash ISA every tax year. But with us you can spread your annual ISA allowance across our range of ISAs.

Flexible ISA

What is a Flexible ISA?

Our cash ISAs are also flexible, which means any withdrawals you make are added back to your ISA allowance. Flexible ISAs are designed to help you make the most of your tax-free annual ISA allowance. not all ISAs are flexible, so before moving your ISA money make sure you double check.

 

Current Cash ISAs

Cash Lifetime
ISA

up to 0.75% AER*

To help you save for your first home or retirement.

Fixed Rate cash ISAs

up to 0.85% AER*

Tax-free return on your savings, with the certainty of knowing how much interest you’ll earn.

Access cash
ISAs

up to 0.50% AER*

Flexibility with access and unlimited deposits, all with tax-free interest on your savings

Postal cash
ISAs

up to 0.85% AER*

Tax free interest on your savings and you can apply for and manage your cash ISA by post.

Spreading your ISA allowance

Our ISA Wallet and Flexible ISAs work together to give you even more freedom with your annual ISA allowance.

If you withdraw from our Flexible ISAs, our ISA Wallet allows you to reinvest that money into another ISA with us.

Which means you’re not losing out on your tax-free ISA allowance.

Cash ISAs explained
Withdraw money

With easy access ISAs and notice ISAs

You can now withdraw (subject to product terms and conditions) and replace your ISA funds in the same cash ISA or reinvest into a different cash ISA with us in the same tax year.

Fixed rate ISAs

With fixed rate ISAs

You can now withdraw (subject to product terms and conditions) and reinvest your ISA funds in a different cash ISA with us in the same tax year.

Spreading your ISA allowance

The ISA Wallet gives you more freedom with your annual ISA allowance. Instead of having to choose one cash ISA per tax year, with our ISA Wallet, you have the freedom to invest your cash as you wish.

You can now invest in our easy access, notice and fixed rate cash ISAs, all in the same tax year.

For instance you can keep access to some of your ISA funds, and lock away a share for a better return.

Managing your cash ISA

How do Flexible ISAs work?

With our Flexible ISAs you can withdraw funds from your cash ISAs and then later deposit funds, in the same tax year, without using your annual ISA allowance.

You have the flexibility to make the most of your tax-free ISA allowance whilst still having access to your savings.

Lifetime ISAs aren’t Flexible ISAs. So, any funds you withdraw are potentially subject to the government withdrawal charge and can’t be replaced without using your remaining LISA allowance.

Your ISA allowance each tax year is £20,000

Piggybank icon

You deposit £10,000 into your ISA

Safe icon

The balance in your ISA is £10,000

Your remaining unused ISA allowance is now £10,000

Coin icon

You withdraw £5,000 from your ISA

Safe icon

The balance in your ISA is £5,000

Your remaining unused ISA allowance is now £15,000

View cash ISA

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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