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?

Our cash ISAs

Which cash ISA is right for me?

Our Instant Access ISA lets you:

  • Access your money instantly - there are no withdrawal penalties, so you can take money out whenever you want
  • Save your way - either in a lump sum, by standing order or simply pay in when you want to
  • Maximise your cash ISA allowance - save from £1 up to £20,000 in the 2018/2019 tax year up to 5 April 2019
  • Transfers in - bring all your cash ISAs together in one place
  • Watch your savings grow - interest is calculated daily and paid annually on the first business day in April
  • Manage your account - online, on your mobile, in branch or by phone

What you should know:

  • The interest rate is variable, so it can go up as well as down
  • Interest is paid annually
  • Once you've paid in your full year's cash ISA allowance, you can't replace any money you've withdrawn in the same tax year

You will need your National Insurance number during the application.

More info and Apply

Interest Rates:

Balance Tax-free p.a./AER (variable)
£1 -£24,999 0.35%
£25,000+ 0.85%


Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance.

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

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Application deadline 22nd October 2018 – this is a limited offer and may be withdrawn at any time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 1.00%
1 Year £25,000 + 1.10%
2 Years £1,000 - £24,999 1.15%
2 Years £25,000 + 1.25%


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 12th November 2018. 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.

Why save into 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 £20,000 in the 2018/2019 tax year up to the 5th April 2019.

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

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