Instant Access ISA

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

Save up to £20,000 tax free up to 5th April 2020.

Bring your ISA balances together in one place.

Account name: Instant Access ISA

Yes, these interest rates are variable. They may be changed for any of the reasons set out in Term 9.2 of the Savings Account Terms (PDF, 501 KB), 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 (PDF, 501 KB) also contains details of the notice we’ll give you.

Your eligibility

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

If you already have a current account with us you can open your account on our mobile app, online, in branch or by telephone.

If you don't have a current account with us you can open your account online or on our mobile app (you need to register for online banking before you can get our mobile app). 

We will need your email address and mobile number to open your account. 

You can manage your account on our mobile app, online, in branch or by telephone.

There is no minimum deposit required to open the account; no minimum deposit needs to be made on a regular basis; 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 2019/2020 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.

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 of money you can withdraw from your account by phone, online or mobile app. Find out more about the daily limit or speak to us on the phone about them.

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

Definitions

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: This means interest payable is exempt from UK income tax.

p.a.: per annum (per year)

You can transfer all or part of any ISA held with another provider to us.

We'll send you an email when your statements are ready to view in Online Banking. You can check it whenever you want.

Before you start your application, we need to check a few things.

Your eligible deposits with Royal Bank of Scotland are protected up to a total of £85,000, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.

Find out more about the scheme and how it protects your money.