ISA Savings Accounts | What is an ISA? | Royal Bank of Scotland

Why save in a cash ISA?

The tax-free way to save

Already have an ISA?

Time is running out to make the most of your 2016/2017 ISA allowance of up to £15,240.

The tax year ends on the 5th April so you need to act before this date to open a Cash ISA account for the 2016/2017 tax year.

Our 2 cash ISAs Which cash ISA is right for me?

Instant Access ISA


Our Instant Access ISA gives you immediate access to your money.

You can also save the way you want – either as a lump sum, as a standing order or simply pay in whenever you choose to.

The interest rate on your savings is variable, which means the rate can go up as well as down.



Transfer in




AER/Tax-free p. a. (variable)

£1 -


£25,000 + 0.50%

Interest is calculated daily and paid into your account annually on the first business day in April.

More on Instant Access ISA and Apply

Fixed Rate ISA


If you have a minimum deposit of £1,000, and you’re happy to leave your money untouched for a while, a Fixed Rate ISA might be better for you.

This type of cash ISA offers a fixed rate of interest for either one or two years.

The longer the term you choose, the higher the interest rate will be.

Application deadline 5th April 2017 – this is a limited offer and may be withdrawn at any time

Transfer in Term Minimum Balance AER/Tax-free p.a. (fixed)
1 Year £1,000 - £24,999 0.70%
1 Year £25,000 + 0.75%
2 Years £1,000 - £24,999 0.80%
2 Years £25,000 + 0.85%


Interest is calculated daily and paid into your account annually on the first business day in April and on maturity. The Fixed Rate ISA start date is 8th May 2017. Up until the start date interest will be paid at the same interest rate as during your term. Partial withdrawals are not permitted. Early closure will result in an early closure charge.

More on Fixed Rate ISA and Apply


Key ISA Definitions


Annual Equivalent Rate (AER) – this is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.

Tax-free interest means interest payable is exempt from UK income tax.

Cash ISAs Why save in a cash ISA?

Cash ISAs are Tax-free savings accounts that can help you reach your savings goals more quickly.

You can save up to £15,240 in the 2016/2017 tax year up to 5th April 2017.

To help you make the most of your cash ISA allowance, we have two easy to open ISAs.


Need more help? Understanding ISAs

Our practical guides and simple FAQs will give you all the information you need.

Getting started with an ISA

Got a Question?

Got a RBS cash ISA? Manage your savings

From getting started with a new ISA to reactivating an existing one, you’ll find everything you need to manage your account here.

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