Products featured in this article are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.
The savings and investing provider Plum is giving This is Money readers a £20 gift card when they open its cash Isa.
They must be a new customer and have £1,000 in the account after three months to get it.
Plum’s cash Isa has a top interest rate of 4.45 per cent, so if you deposit and hold the £1,000, this will be worth £1,044.50 after a year.
Factoring in the £20 gift card, it means customers have will gained a total of £64.50 and therefore have an effective interest rate of 6.45 per cent over 12 months.
The cards on offer include Amazon, Deliveroo and New Look among others.
Plum recently scrapped its cash Isa withdrawal penalties, meaning savers can now access their money as often as they like without getting hit with a lower rate.
> Open a cash Isa with Plum*
Plum is part of a new wave of app-based saving and investing providers
Previously, your interest rate would drop if you made more than three withdrawals in 12 months.
What’s more, the platform will no longer decrease your interest rate if your balance drops below £100.
Find out more about how the exclusive deal stacks up below – you must use our exclusive link to get your gift card.
How does Plum’s cash Isa compare?
Plum* consistently sits near the top of our list of the best easy-access cash Isas, with its 4.45 per cent rate only beaten by Moneybox (4.47 per cent), Hargreaves Lansdown* (4.55 per cent), Trading 212* (4.56 per cent) and Etoro* (4.67 per cent).
It’s worth noting that three of these Isa rates include a 12-month fixed bonus, so be prepared to shop around for a new deal after the year is up.
Hargreaves Lansdown’s Isa is more straightforward, with no boost.
You should also check whether a cash Isa is flexible, because this can help you keep more of your Isa allowance. Flexible cash Isas let you withdraw money and replace it in the same tax year without affecting your Isa allowance.
| Plum | Moneybox | Hargreaves Lansdown | Trading 212 | Etoro | |
|---|---|---|---|---|---|
| 12-month boosted rate | 4.45% | 4.52% | None | 4.56% | 4.67% |
| Underlying rate | 3.04% | 3.7% | 4.55% | 3.85% | 3.67% |
| Minimum deposit | £1 | £500 | £1 (must open with £1 before transferring) | £1 | £500 |
| Flexible Isa | No | No | No | Yes | Yes |
| Rate drop after three withdrawals | No | Yes | No | No | Yes |
> Read more: Plum scraps cash Isa withdrawal limits – is it now the best buy?
What do you need to do to be eligible for the gift card?
The gift card is only valid for new Plum customers, and you must complete your purchase using our exclusive link*.
It’s important to open your cash Isa in one session, without closing your internet browser, because your eligibility for the gift card relies on Plum tracking your purchase successfully.
You’ll be sent instructions on how to choose your gift card after three months.
Make sure you read all the terms and conditions of the deal before going ahead.
> Open a cash Isa with Plum*
SAVE MONEY, MAKE MONEY
4.56% cash Isa
4.56% cash Isa
Trading 212: 0.71% fixed 12-month bonus
Sipp cashback
Sipp cashback
£200 when you deposit or transfer £15,000
Top Isa without bonus
Top Isa without bonus
Straightforward 4.55% cash Isa with no boost
Free shares bundle
Free shares bundle
Get free UK shares worth up to £200
£20 gift card
£20 gift card
Hold £1,000 after three months in Plum’s cash Isa
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. Terms and conditions apply on all offers.
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