Cash ISA

M&S Bank M&S Cash ISA Variable Rate Savings option Review

An instant access cash ISA from M&S Bank. It ranks 90th of 129 instant access cash ISAs we track.

Variable rate

2.30%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£20,000

Access

Instant

Interest paid

Yearly

Transfers in

Accepted

How It Stacks Up

Ranks 90th of 129

Instant access cash ISAs we track

Well below average
This account 2.30%
UK CPI (Aug 2026)
3.10%
Pays 0.80% less
Average instant access cash ISA
2.94%
Pays 0.64% less
Best instant access cash ISA
4.87%
Pays 2.57% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

A better-paying alternative

Trading 212 bank logo

Trading 212

Cash ISA

4.80%

AER

  • Pays 2.50% more than this M&S Bank account
  • Includes a 1.20% bonus for 12 months, then 3.60%
Compare Cash ISAs

We may earn a commission if you open this account.

A Good Fit For

  • Pro: New and existing savers
  • Pro: Savers who want instant access

Worth Weighing Up

  • Con: The rate is variable, so it can go down
  • Con: Not flexible: money you withdraw can't be replaced without using more allowance

Good to Know

Withdrawals are free of charge.

Please verify all details with the provider – see our Disclaimer

See all M&S Bank accounts

Estimated returns with M&S Bank's Cash ISA

What you could earn with M&S Bank's M&S Cash ISA Variable Rate Savings option.

Estimated interest

£1,000 saved

£23.00

At 2.3% AER

£5,000 saved

£115

At 2.3% AER

£10,000 saved

£230

At 2.3% AER

£20,000 saved

£460

At 2.3% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Our Expert Opinion on M&S Bank M&S Cash ISA Variable Rate Savings option

Jonny PeaseCo-Founder, DepositScout

At 2.30%, this M&S Cash ISA sits 2.95% below the best rate in the Cash ISA market and is also below the current CPI rate of 3.1%, meaning your money is losing purchasing power in real terms. It accepts transfers in and has a low minimum of £1, so it is accessible enough, but the £20,000 cap means you cannot carry a larger existing ISA balance across. If you want instant access within a Cash ISA, I would look at the Monzo Select Access Cash ISA at 3.15% or the Tembo HomeSaver Cash ISA at 3.00% before settling here.

Compare Cash ISAs

2 alternatives to M&S Bank's M&S Cash ISA Variable Rate Savings option

Same type of account, closest on rate.

Common questions about the M&S Cash ISA Variable Rate Savings option

D

DepositScout Alerts

Example alert

Easy Access rate just dropped

A top provider just cut their rate. Here's what you need to know about the latest market shift.

Example Easy Access Saver Rate Down
4.20% AER
4.75%
View Best Rates
Live Market Tracking

Be the first to know when this M&S Bank rate drops.

Join 1,000+ savers using DepositScout who get instant email alerts when top UK savings rates change. Never miss out on a better deal again.

Takes 30 seconds · No spam · Unsubscribe any time