Instant Access Cash ISA | Royal Bank of Scotland

Instant Access ISA

Give your savings a tax-free lift with your £20,000 ISA allowance

You can open the account with just £1


Your interest is tax-free


Take your money out whenever you like

Please read the Summary Box below before applying

Apply online Jump to Summary Box

We are the first Retail bank to be awarded the 5 star accreditation by Fairbanking.

Make the most of your tax-free savings

You can start saving with as little as £1, and take your money out when you need it.

You can bring your ISA balances together in one place, by completing a transfer in request.

The ISA allowance for this tax year 2017/2018 is £20,000. The tax year runs until 5 April 2018.

Summary Box

Account Name: Instant Access ISA

1. What is the interest rate?

Balance Tax-free p.a./AER (variable)
£1 -£24,999 0.25%
£25,000+ 0.75%


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.

2. Can the Royal Bank of Scotland change the interest rate?

Yes, these rates are variable. They may be changed for any of the reasons set out in Term 9.2 of the Savings Account Terms, e.g. to take account of Bank of England base rate changes or changes in the rates paid by other banks. If the rates are going down and your balance is £100 or more, we’ll give you at least 14 days’ notice. If the rates are going down and your balance is less than £100, we’ll inform you before the change or shortly afterwards. If the rates are going up, we’ll inform you before the change or shortly afterwards. Term 9.2 contains details of the notice we’ll give you.

3. What would the estimated balance be after 12 months based on a range of deposits?

Initial deposit at account opening Balance after 12 months Interest earned
£1,000.00 £1,002.50 £2.50
£25,000.00 £25,188.15 £188.15


These are only examples and do not take into account your individual circumstances. The examples assume that: no further deposits or withdrawals are made, there is no change to interest rates and tiers and any interest earned stays in the account.

4. How do I open and manage my account?


To open an Instant Access ISA you must be aged 16 years or over and be resident in the UK for tax purposes.

You must:

  • not have subscribed to another cash ISA (including a Help to Buy: ISA with another provider) or have subscribed more than the overall subscription limit in total to a cash ISA, a stocks and shares ISA, an innovative finance ISA and a lifetime ISA in the same tax year
  • hold the account solely in your name

You can open and manage your account in branch, online, by telephone and by using our mobile app.

Balance and ISA allowance

There is no minimum deposit required to open the account, and there is no maximum balance limit.

However, there is a limit on the amount you can pay into your account each tax year (6 April to 5 April). This annual limit, also known as your “ISA allowance”, is set by the Government and may change from time to time. For tax year 2017/2018 it is £20,000. If you pay in more than the limit any excess money will be returned to you.

If you make a payment for a tax year into your Instant Access ISA, you can’t make any payments for that tax year into any other cash ISA.

You can transfer all or part of any ISA held with another provider to us. Click here to find out more.

5. Can I withdraw money?

  • Yes. No notice is required.
  • You can withdraw money: in branch or by transfer to any other account based in the UK (online, by telephone or on the mobile app). 
  • If you make a withdrawal, you will not be able to deposit more money into your account if it means you will exceed the annual limit.
  • You can transfer your ISA (or part of it) to another ISA manager.


There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking.

The current daily limits and how to withdraw more than them can be found here or by contacting Telephone Banking.  

6. Additional information?


The interest payable is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.


AER (Annual Equivalent Rate):

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.


Per annum (per year).


Interest which is exempt from UK income tax.

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