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Tax efficient savings
What is an ISA?
An ISA is simply a savings account and stands for Individual Savings Account. An ISA lets you pay little or no tax on your savings interest or investments earnings. There are two main types of ISA available:
- Cash ISAs which are classed as tax free. Tax free means that interest payable is exempt from UK tax.
- Stocks and shares ISAs which are classed as tax efficient. These are higher in risk and should be considered as being for the longer term (i.e. at least 5 years).
View our ISA video opposite, view the video transcript, or download a pdf version of the guide (893KB).
Find out more in our ISA Guide.
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| Account name | Interest rate | Manage account | Transfers in allowed | Withdrawals | |
|---|---|---|---|---|---|
| Instant Access ISA | |||||
| For customers who want instant access to their savings. | 1.37% AER variable on balances of £1-£8,999. 2.82%% AER variable on balances over £50,000. | Online Branch Phone |  | Unlimited | Find out more |
| Instant Access ISA notes: These rates include a 1% gross pa (fixed) bonus for 12 months added to the standard variable interest rate. The bonus rate starts on the 15th or 16th day of the next month after the account is opened. The bonus rate is a special offer only available to customers who do not currently have an Instant Access ISA account with RBS. 12 months after the bonus starts interest will automatically revert to the standard variable rate. See the applicable rates | |||||
| Fixed Rate ISA | |||||
| Apply between 2nd May 31st May 2012 Cash ISA with a fixed rate of interest from 4th July 2012 for the term of the account. Limited offer - may be withdrawn at any time. | Minimum investment amount £1,000
Preferential interest rates if you transfer your cash ISA from another provider to RBS (excluding NatWest & RBS). 1 year term Not Available 2 year term 3.60% AER 3 year term 3.80% AER Standard Interest Rates 1 year term 2.40% AER 2 year term 3.40% AER 3 year term 3.60% AER | Online Branch Phone | | By closure only - an interest charge will apply | Find out more |
| Interest will be paid at the rate of 2% AER/Gross (fixed) p.a. until the Fixed Rate ISA start date of 4th July 2012. Fixed Rate ISA notes:Please ensure:
| |||||
Looking for the Cash ISA Plus Rate?
We no longer offer the Cash ISA Plus, but you can still check the rate on your existing account.
Investment ISA
Looking to invest? Then why pay more tax than you have to? Choose from a range of options and use your ISA allowance, to invest up to £11,280 this tax year.