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Our cash ISA for Reward or Ultimate Reward Current Account holders. Earn more interest if you make fewer withdrawals.
Earn 4.20% AER/4.12% tax free variable interest on balances from £1 if 3 or less withdrawals are made in the 12 months after opening.
Earn 1.35% AER/1.34% tax free variable interest on balances from £1 if 4 or more withdrawals are made in the 12 months after opening. This lower interest rate will apply from the month you make the fourth withdrawal until the end of the account year.
Interest is paid monthly, on the same date you open your account.
Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our account conditions (PDF, 210KB) explain when and how we do this. For example we might review the interest rate if the Bank of England base rate changes.
For example, if you deposit £1,000 when you open the account and make no withdrawals, the balance after 12 months will be £1041.98.
If you deposit £1,000 when you open the account and withdraw £10 on the first day of the month for the first 4 months of the term, the balance after 12 months will be £979.83.
You can open this account if you:
You must open with at least £1.
You can transfer an ISA you have with us or another bank. Find out how to transfer an ISA.
As with all ISAs, there are some rules:
If you change your mind, you can cancel the account free of charge within 14 days of opening.
Yes. You can make withdrawals from this account and there are no charges for doing so.
You’ll get a higher rate of interest if you make 3 or less withdrawals in the twelve months from opening. If you make 4 or more withdrawals, you’ll get a lower interest rate from the month you make the fourth withdrawal until the end of the account year.
Closing your account counts as a withdrawal.
This is a flexible ISA, so if you make a withdrawal, you can pay that money back in to this account before the end of the tax year and not affect the amount you can save in your cash ISA tax free.
Any money you move to an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in future.
After 12 months the account will change to an Instant ISA Saver. Before this happens, we'll contact you to explain your options and next steps.
Tax free means you will not pay income tax on your interest.
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our savings glossary.
If you've already got an easy access cash ISA with us, you can renew it into an ISA Reward Bonus Saver without needing to open a new account.