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DIY investment platform Trading 212 has today boosted the rate on its easy-access cash Isa for new customers, bringing the rate to 5.05 per cent.
The new promotional rate offers an additional 0.15 per cent on top of its standard variable rate of 4.9 per cent.
It means new customers will enjoy 5.05 per cent interest on their cash Isas for 12 months after funds are deposited.
To get the deal, This Is Money readers need to sign up with this exclusive Trading 212 link* to claim, valid until the end of January.
You’ll need £1 to open a cash Isa and you can open it by downloading Trading 212’s app.
There are no limits to how many times you can withdraw your money and Trading 212 will not reduce your interest rate for accessing your money.
Cash boost: New Trading212 customers will earn 5.05% in their easy access cash Isa
Crucially, it is a flexible Isa which allows you to dip into your pot as long as you put the money back in during the same tax year. It doesn’t lose its tax-free wrapper or use up any of that year’s £20,000 Isa allowance.
The new deal means that Trading 212 is one of the only providers, alongside Moneybox and Chase, to pay interest of more than 5 per cent.
Moneybox and Chase both boosted their easy-access cash Isa rates to 5 per cent last month, topping the best-buy tables just days after the Bank of England voted to keep the base rate at 4.75 per cent.
Trailing Trading 212 and Moneybox are Monument Bank and Mansfield Building Society which are paying 4.76 and 4.75 per cent interest, respectively.
It means easy-access Isa rates currently beat fixes. The best one-year fix is offered by Shawbrook Bank and Castle Trust Bank at 4.53 per cent, while the best two-year fix comes in at 4.43 per cent from Hodge bank.
Cash deposited with Trading 212 is fully FSCS protected. Funds in the Trading 212 Isa are held in partner bank accounts with Barclays, NatWest and JPMorgan.
Customers are able to see the percentage of their cash held at each bank on the ‘cash tab’ in the Trading 212 app.
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Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. *Chase: Cashback available for first year. Exceptions apply. 18+, UK residents.
