If you're looking for a cash ISA when you're over 60, use our table to compare ISAs.

You can change the order of cash ISAs in our table to find some of the best cash isa rates for over 60s to help your financial goals.

When comparing cash ISAs for over 60s, you'll want to consider these features:

  • The interest rate: You get a better return the higher the rate

  • The term: You can get cash ISA that gives you instant access, and 1 year fixed rate ISA or all the way up to a 5-year fixed-term cash ISA

  • ISAs that accept transfers: These let you move your ISAs from previous tax years into a new cash ISA

The best fixed rate isa would offer a high interest rate, for a term of your choice that would be transferable.

If you have existing ISAs, here is how to transfer them into a new cash ISA.

Be sure not to tie your money up for longer than you think you can afford to. If you withdraw money before the account's maturity date you will be charged an interest penalty.

Why save in a cash ISA when you are over 60?

Saving in a cash ISA is beneficial because any interest you make from a cash ISA is tax-free, and your money is usually protected under the Financial Services Compensation Scheme (FSCS).

You can save up to 20,000 in an ISA for the 2020/21 tax year, and if you do not pay anything into a stocks and shares ISA or innovative finance ISA then you can put it all in a cash ISA.

If you already have cash ISAs, use our table to find a higher interest rate on a cash ISA that accepts transfers in.

Here is how an ISA works

What types of cash ISA can over 60s get?

There are six types of ISA in our table:

  1. Instant access ISA: These let you withdraw your money anytime you want, but do not usually offer competitive interest rates

  2. Easy access ISA: These let you withdraw anytime, but are usually managed online, over the phone or by post so it can take a short while for you to get your money

  3. Notice ISA: These let you withdraw after you give a set amount of notice, such as 60 days, or you can withdraw anytime with an interest penalty

  4. Regular ISA saver: These require you to pay in a set amount each month to qualify for the advertised rate offered

  5. Fixed rate cash ISA: These tie your money up for a set term from the date you open the account and the rate is guaranteed

  6. Limited access ISA: These accounts tie your money till a set date, rather than for a set term after opening the account

Read this guide for more information on cash ISAs

Cash ISAs for over 60s FAQs


Can I save more money into an ISA because I am over 60?


No, your allowance is still 20,000 a year. Over 50s had a higher allowance between October 2009 and April 2010, but this is no longer the case.


Can I get a better cash ISA because I am over 60?


No, most cash ISAs are available to anyone over the age of 16 and your age will not affect the rate or how much you can pay in each tax year.


How many ISAs can I have?


As many as you want, but you can only pay into one cash, stocks and shares and innovative finance ISA during the same tax year. Find out more here.


Is my money safe in a cash ISA?


Yes, most are backed by the Financial Services Compensation Scheme (FSCS) which protects your money up to 85,000 in a single institution.


Can I take my money out of my ISA whenever I want?


Only if the ISA allows withdrawals but there are restrictions on paying money back in, find out more here.


Can the interest rate go down on a fixed rate cash ISA?


No, once you open a fixed rate cash ISA you will get the rate you signed up for throughout the full term of the account.

About our cash ISAs for over 60s comparison


Who do we include in this comparison?


We include every cash ISA available for over 60s. They are regulated by the Financial Conduct Authority (FCA).

Here is more information about how our website works.


How do we make money from our comparison?


We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.

You do not pay any extra and the deal you get is not affected.