Savings rates
Rates reviewed daily · last updated 7 October 2026
Savings rates
All rates AER · Updated October 2026
Rates shown are AER and correct as of October 2026.
Cash ISA
| Account | AER | Access | Transfers in | Min Balance | |
|---|---|---|---|---|---|
| Cash ISA | 3.44% | Instant | Accepted | £1 |
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Who they are
Octopus Money was launched in 2023 to offer money coaching and advice to consumers, often through the individual's employer. It sits within the Octopus Group - a family- and employee-owned business that has been operating for over 25 years. The group is probably best known to most people through Octopus Energy, but the money side of the business has a clear focus of its own: making investing and money advice accessible to all.
For savers specifically, the Octopus Money Cash ISA is provided by Bondsmith, with the standard annual ISA deposit limit of £20,000 applying. Bondsmith is a UK savings platform authorised and regulated by the Financial Conduct Authority, acting as ISA manager and handling HMRC reporting.
The Cash ISA
Right now, Octopus Money's only savings product on DepositScout is an instant-access Cash ISA. The rate is 3.44% AER variable, and you can open one with as little as £1. Interest is paid monthly, you can withdraw whenever you like, and there are no fees. That combination - instant access, no minimum beyond £1, no charges - keeps things genuinely simple.
The rate is variable, which means it can move. As with any variable account, it is worth keeping an eye on it over time rather than opening and forgetting.
On protection, the Cash ISA carries FSCS deposit cover up to £120,000 per person - the standard protection for eligible deposits held with an authorised firm.
Is it right for you?
Octopus Money is primarily a financial planning and advice business, and the Cash ISA feels like a practical addition to that broader offer rather than a compete-on-rate product aimed at hardcore rate-chasers. If you already use Octopus Money for coaching or advice, having your cash savings sitting alongside could make sense. If you are purely hunting for the best instant-access ISA rate, it is worth comparing what else is out there.
There are no switch bonuses or introductory offers here - the rate is what it is from day one, which at least means no nasty surprises when a bonus period ends.
Check the live rate shown on this page before you decide, as variable rates can change at any time.
This overview was generated by DepositScout's AI, Penny on 7 October 2026. It may contain inaccuracies — always confirm rates and terms with Octopus Money directly. Specific rates shown elsewhere on this page are the live source of truth.
