Building society re-launches two 'popular' Cash ISAs paying up to 4.2% interest

Teachers Building Society (TBS) has announced that it is re-launching its double-access Cash ISA accounts, including both open to everyone and teacher-exclusive versions.

The mutual first launched these particular ISAs in early May 2025, which proved popular with savers and led to the initial tranche selling out by June 2025. David Leek, commercial director at Teachers Building Society, said: "We're delighted to make these double-access Cash ISA products available again. They previously proved very popular, attracting such interest that we had to withdraw them from sale after six weeks. I believe the popularity was down to the combination of a competitive rate with the option for access should circumstances mean there's a need to dip into the savings pot."

The two accounts that have been relaunched include the Double Access Cash ISA for Everyone and the Double Cash ISA for Teachers.

This Double Access Cash ISA offers two withdrawals per year without notice and pays a 4.15% AER interest rate. Savers can launch the account online with a minimum opening balance of £100.

The Double Access Cash ISA for Teachers (and those working in education) pays a 4.20% AER interest rate, and two withdrawals are allowed per year without notice. Savers can launch the account online with a minimum opening balance of £100.

To open both accounts, customers must be over 18 years old and residents of the UK, and up to £250,000 can be saved overall. If more than two withdrawals are made within a 12-month period, the interest rates will drop to 1.25% tax-free per annum/AER variable.

Cash ISAs have risen in popularity in recent years due to frozen tax-free savings thresholds and increased interest rates. With a Cash ISA, people can save up to £20,000 a year tax-free.

Mr Leek continued: "These ISAs allow transfers in, so those with previous years' ISA subscriptions held elsewhere can move their savings into one of these accounts while maintaining the ISA wrapper."

Founded in 1966, Teachers Building Society uses savings to fund low-deposit mortgages for teachers, helping more educators get onto the property ladder - a mission that remains central to the mutual's identity.

Mr Leek said: "Those who choose Teachers Building Society can benefit from knowing that by saving with us, they are choosing an organisation whose values are rooted in social purpose. We use savings to fund mortgages, which means those who save with us are directly helping more teachers buy their first home."

While Teachers Building Society may be offering competitive rates, the accounts aren't taking the top spot for easy access Cash ISAs at the time of writing.

Principality Building Society is currently offering a 4.4% AER interest rate on its Online Bonus 5 Access ISA. The rate includes a 1.7% bonus for 12 months, and savers can launch the account with a minimum deposit of £1. Up to five withdrawals are allowed per year, and interest is paid annually.

Trading 212 is just behind with a 4.38% AER interest rate. The rate includes a 0.53% bonus for 12 months, and withdrawals are not restricted. Savers can launch the account with just £1, and interest can be paid monthly.

The last of the top three is Cynergy Bank, with a 4.35% AER interest rate. Savers can launch the account with £1, and withdrawals are also not restricted. Interest is paid annually.