• FSCS Protected

    Deposits fully protected up to £85,000 per eligible person.

  • Easy account opening

    Apply online at whatever time of day works for you.

  • Rated "excellent"

    Our personal savings customers rated us excellent on Trustpilot.

  • Transfer your ISA

    All our cash ISAs accept transfers-in, so you can choose the right accounts to match your savings needs.

What is a limited access savings account?

  • Limited access savings accounts are types of personal savings accounts that have restrictions around how many times money can be withdrawn.
  • Account holders are granted higher savings interest rates provided they do not exceed the number of withdrawals permitted by their account.
  • The interest rate on these accounts is variable, but often higher than that of more flexible savings accounts.
  • Aldermore offers these types of accounts with Double Access Savings and Reward Cash ISAs.

For more information on limited access savings accounts, take a look at our blog: What is a limited access savings account?

First time homeowners decorating

See what our customers think

Unfortunately you won’t be able to read our reviews here using your current browser because it isn’t compatible with this Trustpilot feature. To read our reviews, you can

click here

to visit our profile on the Trustpilot site.


Reward ISA Single Access Account Issue 1

Interest rate (AER*)

  • 4.40% Up to one withdrawal
  • 2.90% Two or more withdrawals

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£100

Suitable if you

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs and add money up to the ISA allowance
  • Are unlikely to make more than one withdrawal a year. Your interest rate will reduce to 2.90% AER from your second withdrawal for the remainder of that anniversary year.

Reward ISA Double Access Account Issue 1

Interest rate (AER*)

  • 4.35% Up to two withdrawals
  • 2.90% Three or more withdrawals

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£100

Suitable if you

  • Want all of the interest tax free
  • Want to be able to transfer in other ISAs and add money up to the ISA allowance
  • Are unlikely to make more than two withdrawals each year. Your interest rate will reduce to 2.90% AER from your third withdrawal for the remainder of that anniversary year.

Double Access Account Issue 4

Interest rate (AER*)

  • 4.30% Up to two withdrawals
  • 1.50% Three or more withdrawals

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Minimum opening balance

£1,000

Suitable if you

  • Don't want to lock your money away
  • Want to be able to add money whenever you like
  • Are likely to need to make two or less withdrawals each year. Your interest rate will reduce to 1.50% AER* from your third withdrawal for the remainder of that anniversary year.

How often can you withdraw from a limited access savings account?

With Aldermore limited access accounts, funds can be withdrawn whenever you choose, but your interest rate will decrease if you exceed the number of withdrawals for your account within the year.

This doesn’t apply to every single type of limited access savings account from every provider.

Other providers may pose restrictions around the amounts that can be withdrawn, they may impose a delay between when the withdrawal is ordered and when the money can be accessed, or they may require certain conditions to be met, such as stating the reason for the withdrawal before permitting it.

With Aldermore limited access accounts, funds can be withdrawn whenever you choose, but your interest rate will decrease if you exceed the number of withdrawals for your account within the year.

This doesn’t apply to every single type of limited access savings account from every provider.

Other providers may pose restrictions around the amounts that can be withdrawn, they may impose a delay between when the withdrawal is ordered and when the money can be accessed, or they may require certain conditions to be met, such as stating the reason for the withdrawal before permitting it.

Woman hugging young girl

An explanation of savings terms

Here’s a handy glossary to help explain the various savings acronyms and terms:

  • AER is an acronym for Annual Equivalent Rate. This is an indication of the percentage of interest received from savings in a year.
  • Variable interest means that the savings interest rate can increase/decrease throughout the year.
  • Tax-free means that the interest earned will not be subjected to income tax.
  • Interest rate, in the context of savings, is the amount a bank pays to savers in exchange for saving.
  • ISA is an acronym for Individual Savings Account.
Couple on hammock

Limited access savings accounts FAQs

A limited access ISA (Reward ISA) is a type of cash ISA which has restrictions imposed on the number of times money can be withdrawn in a 12 month period before the interest rate decreases. These function similarly to accounts like our double access savings, but provide tax-free interest earnings.

Limited access savings accounts (like our double access savings account) are a form of personal savings account which can be withdrawn from a set number of times within a year before the interest rate drops. 

For limited access accounts, a withdrawal counts as any funds that the account holder takes out of the account within a 12-month period. Withdrawal limits reset at the account’s anniversary.

With Aldermore, a reward ISA is a type of limited access ISA that rewards you for not exceeding the account’s withdrawal limits.

Limited access savings accounts have a variable interest rate, which means that the rate can go up or down throughout the year.

Our limited access savings accounts have two distinct balance requirements:

  • For our double access savings account, we request an opening deposit of £1,000.
  • For both our reward ISAs, we request an opening deposit of £100.

Please read the relevant summary box and Personal Savings Terms and Conditions before you open an account.

Things you need to know

  • Your interest rate depends on how many times you take money out in any anniversary year. An anniversary year is the 12 month period commencing on the opening date of your account and then renewing on each annual anniversary.
  • Interest will be earned from the date on which we receive your money.
  • Your annual ISA allowance for the 2024/2025 tax year is £20,000. You can split the allowance across the different ISA types - cash ISA, stocks and shares ISA, innovative finance ISA and Lifetime ISA - or save the whole allowance in one type of ISA (apart from the Lifetime ISA, which has a limit of £4,000).
  • There are no fees or charges for standard account services. We may make a charge for any exceptional non-standard services which are made available to you on a discretionary basis.
  • We reserve the right to withdraw these accounts from sale at any time

Please read the relevant summary box and Personal Savings Terms and Conditions before you open an account.

Browse related articles