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

Why save in a cash ISA?

The tax-free way to save

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Add your signposting title here… Instant Access ISA: Bonus interest rate on new savings of £20,000

Deposit £20,000 in our Instant Access ISA by 5 May and get a bonus interest rate for 1 year!

Bonus interest rate paid on the first £20k from 18 May 2017 to 17 May 2018.

More info and apply

Our cash ISAs

Which cash ISA is right for me?

Instant Access ISA

 

When you grow your balance by £20,000 or more between 6 April and 5 May 2017 we'll give you bonus interest on that £20,000. You'll earn the normal interest rate on anything over £20,000.

If between 6 April 2017 and 5 May 2017 you:

  • deposit your full £20,000 2017/2018 ISA allowance; or
  • transfer in at least £20,000 from an existing ISA you hold; or
  • Grow your balance by at least £20,000 by a combination of the above

you'll receive a 1.00% (fixed) tax-free p.a. bonus interest rate for 12 months from 18 May 2017 to 17 May 2018 on the first £20,000 in your account.

For example, you complete an ISA transfer into your account for £50,000 on 10 April 2017. From 18 May 2017 to 17 May 2018 you’ll earn 1.50% on the first £20,000, and 0.50% on the remaining £30,000. Between making a deposit and the 17 May 2017 you'll earn the standard interest rate of 0.50%.

More info and Apply

Interest rates without bonus:

Balance Tax-free p.a./AER (variable)
£1 -£24,999 0.05%
£25,000+ 0.50%

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.

Interest rates with bonus:

  On the first £20,000
Standard variable interest rate
including conditional bonus
of 1.00% tax-free/0.89% AER
(fixed for 12 months)
On Remaining Balance
Standard variable
interest rate
excluding conditional bonus
Balance Tax-free p.a. (variable) AER (variable) Tax-free p.a./AER
(variable)
£1 - £24,999 1.05% 0.94% 0.05%
£25,000 + 1.50% 1.39% 0.50%

Bonus interest is calculated daily and paid into your account on the first business day of the month. The first bonus interest payment will be on 1 June 2017.

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 8th May 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 5th June 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.

ISAs made simple

Find out how you can make the most of tax-free saving with our easy to follow ISA guide

ISA Guide

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 £20,000 in the 2017/2018 tax year up to the 5th April 2018.

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

 

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.

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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