Plum Unveils Market-Leading 5% Cash ISA Rate - But Only for New Customers

Savings app Plum is offering a market-leading interest rate of 5% AER (variable) on its Cash ISA, but only for new customers who open an account between September 25th and 30th, 2026. This includes a 2.46% AER bonus for the first 12 months.

According to CEO and founder Victor Trokoudes, 'September is a time of year where people look carefully at their savings and focus on the goals ahead.' He added that by offering this rate, Plum hopes to encourage more people to save into a Cash ISA and build their financial resilience as we head into Autumn.

The 5% AER rate is 'far higher than both the Bank of England's base rate and the inflation rate,' ensuring that customer money grows in real terms while being protected from tax. The Plum Cash ISA also offers flexibility, accessibility, and automated saving rules to make it easier for people to build their savings.

However, Adam French, head of consumer finance at Moneyfactscompare.co.uk, noted that the rate is variable, 'so the underlying rate is subject to change.' He also warned that savers should act fast as this offer is only available to new customers during the specified time period.