The Smarterly Cash ISA is a tax-free way to save and
earn 0.55% interest per
With other savings accounts you may have to pay income on the interest
you earn. The interest earned on a cash ISA is tax-free - anything you
earn, you keep.
This is an Instant Access account, so you can access your money whenever
you need to.
The minimum you can save is a £100 lump sum or a monthly amount of £50 by direct debit, or £10 via payroll. The maximum you can pay into a cash ISA
is £20,000 each
This is also a Flexible ISA, which means that if you withdraw money and
it back in within the same tax year, it doesn't count towards your
annual ISA allowance.
The Financial Services Compensation scheme protects your savings up to
£85,000 per financial institution. Smarterly is not a bank and we may
spread your money over a number of institutions to maintain a
interest rate. Currently, all Smarterly Cash ISA deposits are held with
The interest rate may change in future.
To open our cash ISA you must:
- Be aged 16 or over
- Be a UK resident
- Have a National Insurance Number
Remember, you can set up as many separate Cash ISA pots
as you like with Smarterly and they all sit in one main account behind the scenes.
This is helpful if you want to ring-fence different pots for different savings goals,
or to spread your money across different risk profiles.