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Our cash ISA helps you to save tax free and build a nest egg for the rainy days. Open the account with as little as £1.
1.45% tax free/AER on balances from £1 - £9,999.
1.50% tax free/AER on balances from £10,000 - £49,999.
1.80% tax free/AER on balances of £50,000 or more.
The interest rate is variable. Interest is paid 12 months after you open the account. The rate applies to the full balance.
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 £1000.00 when you open the account, the balance after 12 months will be £1014.50.
If you deposit £10000.00 when you open the account, the balance after 12 months will be £10150.00.
If you deposit £50000.00 when you open the account, the balance after 12 months will be £50900.00.
As with all ISAs, there are some rules:
Yes. You can make withdrawals from this account and there are no charges for doing so.
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.