Aldermore today introduces its new Single Access and Double Access Reward Cash ISAs, designed to reward customers for developing good savings habits while offering flexibility when they need it.
Both accounts can be opened online and provide a competitive variable interest rate, with rates adjusting based on withdrawal.
Reward Cash ISA - Single Access
- Customers can make unlimited withdrawals.
- If the customer makes no withdrawals or one withdrawal within the year, they will earn 4.40% gross annual interest.
- If two or more withdrawals are made within an anniversary year, the interest rate will be reduced from the second withdrawal date until the day before the account’s anniversary to 2.90%.
- The interest rate and withdrawal count will automatically reset on the anniversary of the account opening.
Reward Cash ISA - Double Access
- Customers can make unlimited withdrawals.
- If the customer makes two withdrawals or fewer within the year, they will earn 4.20% gross annual interest.
- If three or more withdrawals are made within an anniversary year, the interest rate will be reduced from the third withdrawal date until the day before the account’s anniversary to 2.90%.
- The interest rate and withdrawal count will automatically reset on the anniversary of the account opening.
Alex Myers, director of savings at Aldermore, comments:
“We know that savers want flexibility, but they also want to make the most of their money. Our new Reward Cash ISAs strike that balance - offering competitive rates while encouraging long-term saving habits. Whether customers need occasional access to their funds or are focused on growing their savings, these accounts provide a solution that adapts to their needs.”
**Ends**
Notes to editors
- Rates as of 05 March 2025.
- To open an account you need to be aged 18 years or over, resident in the UK and only tax resident in the UK.
- Our accounts cannot be held in trust or by US Persons (meaning U.S. citizens, residents, green card holders or taxpayers in respect of their worldwide income).
- This account can be held in one name only.
- You can open and manage your account online. We will accept instructions in relation to the account through our Internet Banking Service.
- The minimum deposit required to open this account is £100.
- The maximum deposit for this account is the 2024/2025 ISA allowance of £20,000. In addition or alternatively, you may transfer existing ISAs from other providers into this account, up to the amount held. These limits are subject to HM Revenue and Customs rules.
- You can only open one Reward ISA single access account or one Reward ISA double access account.
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For further information about Aldermore, please review our Notes to Editors page.
