Which Moneybox Cash ISA should I choose?

Moneybox offers two different Cash ISAs, and currently, you can just hold one with us. If you aren’t sure which account is right for you, here’s a summary of each to help you decide:

• Our Cash ISA has an interest rate of 4.00% AER (variable), made up of an underlying rate of 3.45% and a bonus interest rate of 0.55% for the first 12 months. You’ll earn a lower interest rate of 0.75% AER (variable) if your balance falls below £500, or if you withdraw four or more times within the 12 month period from the date of opening your Cash ISA. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your Cash ISA.
• Our Open Access Cash ISA offers an interest rate of 3.80% AER (variable), made up of an underlying rate of 3.25% and a bonus interest rate of 0.55% for your first year. Like our Cash ISA, you’ll need to maintain a balance of at least £500 to earn the higher (a lower rate of 0.75% will apply to balances under £500). However, there are no restrictions on the number of withdrawals you can make, so you can withdraw as many times as you need without impacting your interest rate.
  All balances in your Open Access Cash ISA earn interest, however, transferred-in balances earn the standard underlying interest rate rather than the bonus interest rate, unless we tell you otherwise.

For both accounts, interest is calculated daily and paid out on the first of each month.

We do not offer personal financial advice or make specific recommendations based on your individual circumstances. If needed, seek independent financial advice before making decisions regarding your financial goals.