What are the current Cynergy Cash ISA rates?

What are the current Cynergy ISA rates?

Cynergy currently offers four Cash ISA products, with rates ranging from 4.16% AER (variable) on their easy access Cash ISA to 4.36% AER (fixed) with their 1-year Fixed Rate Cash ISA. With any of their fixed-rate Cash ISAs, Cynergy will automatically transfer your savings to a Variable Rate ISA after the fixed term has ended.

1. Online ISA: 4.20% AER/tax-free variable. Easy-access withdrawals 24 hours a day. Open with £1. You can also transfer an existing ISA when you open the account. To open an account you must be a personal banking customer, 18 years or older and a UK resident for tax purposes.
2. Cash ISA: 1.00% AER/tax-free variable if you are eligible for their loyalty rate. Easy-access withdrawals 24 hours a day. To open this account, the minimum deposit is £500.
3. 1-Year Fixed Variable Cash ISA: Earn 4.36% AER/tax-free fixed for a one-year term if you are eligible for their loyalty rate. Cynergy will automatically open a Variable Rate ISA for you and your savings will be transferred from your Fixed Rate ISA to your Variable Rate ISA at maturity. Early closure of a fixed rate term is subject to 180 days loss of interest.
4. 2-Year Fixed Variable Cash ISA: Earn 4.22% AER/tax-free fixed for a two-year term if you are eligible for their loyalty rate. Cynergy will automatically open a Variable Rate ISA for you and your savings will be transferred from your Fixed Rate ISA to your Variable Rate ISA at maturity. Early closure of a fixed rate term is subject to 180 days loss of interest.
5. 3-Year Fixed Variable Cash ISA: Earn 4.16% AER/tax-free fixed for a three-year term if you are eligible for their loyalty rate. Cynergy will automatically open a Variable Rate ISA for you and your savings will be transferred from your Fixed Rate ISA to your Variable Rate ISA at maturity. Early closure of a fixed rate term is subject to 180 days loss of interest.

Learn more: 17 ways to set and reach your saving goals 

Source: Cynergy Savings Accounts and ISAs. Rates accurate as of March 2025.

What is Cynergy's best ISA rate?

Cynergy's best Cash ISA rate is 4.36% AER variable, which you can get by opening their 1 Year Fixed Cash ISA. It's a fixed term Cash ISA, meaning your money is locked away for a set period of time (in this case, 1 year). Cynergy’s fixed Cash ISA could be ideal for longer-term spending, as you can put your money away knowing its interest rate won't change while it's locked away.

For shorter-term savings, you can take advantage of Cynergy's Online ISA, and its interest rate of 4.20%. It’s an easy-access ISA, meaning you can withdraw your money at any time without any penalties. Cynergy’s Online ISA could be ideal for day-to-day spending, short-term goals or emergencies. However as the rate is variable, the interest rate could change at any time. It’s also not a flexible ISA, meaning any money you withdraw cannot be replaced without using up more of your annual ISA allowance. 

Is Cynergy a good ISA provider?

Cynergy offers a small range of easy-access and fixed-rate Cash ISAs offering competitive interest rates. However, you may find a Cash ISA offering a higher rate of interest with a different provider. 

For a breakdown of the best deals, take a look at our guide to the best Cash ISAs on the market. 

Can I have two ISAs with Cynergy?

You can only open one Cynergy Cash ISA each tax year, but you could open a second Cash ISA with a different provider. In fact, you can open and pay into as many ISAs as you like, as long as your total deposits across all of your ISAs don’t exceed £20,000 in a single tax year.

If you already have a Cash ISA and you’re not happy with the interest rate, service or terms, another option is to transfer it to another provider. To protect your savings’ tax-free status, you’ll need to get your new provider to make the switch for you, rather than transferring the money yourself.   

If you’re a first-time buyer and you’re saving a deposit, a Lifetime ISA (LISA) can be even more rewarding than a traditional Cash ISA. You can save up to £4,000 each tax year and get a 25% government bonus of up to £1,000 annually. You must be aged 18-39 to open a Lifetime ISA, and can only use it towards a first-home purchase or for retirement at 60 or older. 

Cynergy doesn’t have its own Lifetime ISA, but we do! With the Tembo Cash Lifetime ISA, not only will you get the 25% bonus, but you’ll also benefit from our market-leading 4.60% AER interest rate (variable).

Learn more: Can I have more than one Cash ISA at the same time?

Will Cynergy increase ISA rates?

Cynergy could increase its ISA rates, but there’s also a chance it might lower them. There’s no way of knowing exactly what will happen to interest rates in future, but banks and building societies tend to use the Bank of England’s base rate as a guide when setting their own rates. If the base rate goes up, ISA rates often go up too. If the base rate goes down, ISA rates also tend to fall.

Remember that if you have a fixed-rate Cash ISA, your interest rate will stay the same for the duration of your fixed term, even if Cynergy does make changes to its broader savings rates.

Learn more: Cash ISA or Lifetime ISA. Which one should I pick?

How to find the best Cash ISA Rates

It can be tempting to open an ISA with a provider you already bank with, particularly if you’ve been a customer for many years. However, this could see you missing out on better interest rates elsewhere and better customer service and terms too.  

At Tembo, not only do we offer a competitive Cash ISA rate, but we’ve also helped thousands of savers with our award-winning savings app and we’re rated Excellent on Trustpilot!

How to transfer my Cynergy ISA to another provider

Transfering your Cynergy Cash ISA to a new provider couldn’t be easier! All you need to do is open an ISA with your new provider and tell them you’d like to switch. They’ll take over and complete the switch for you. Whatever you do, don’t try to move the money yourself, as this can impact your savings’ tax-free status and this year’s ISA allowance! 

For example, let’s imagine that over the last few years, you’ve managed to save £20,000 in a Cash ISA. If you find an ISA with a better interest rate, open an account, and try to move the money over with a standard bank transfer, you could end up using your full £20,000 ISA allowance for this tax year, even if most of your contributions were originally made during previous tax years. You’ll also have to wait until the following tax year to deposit any more money into the account.