Instant Access Cash ISA


Earn 0.55% to 2.00% AER/gross (variable)


You'll pay no tax on your interest, and you can save from £1. You can also transfer your previous ISAs into our Cash ISA.

Earn a 0.5% fixed bonus for 12 months when you apply to transfer in funds from another ISA provider between 1 February 2010 to 30 April 2010.


Why choose an Instant Access Cash ISA?


Earn a bonus when you transfer to us

If you already have a Cash ISA with another provider, you can earn a 0.5% fixed bonus for 12 months when you apply to transfer in funds from another ISA provider (excludes transfers within the RBS Group, which includes NatWest) between 1 February 2010 to 30 April 2010.

The bonus will be applied to your account from the date we receive your Cash ISA transfer request form (and guaranteed for 12 months from when we receive your transferred funds).

More on Cash ISA transfer bonus offer


Already got an Instant Access Cash ISA?

Earn a 0.5% fixed bonus for 12 months when you save your full 2010/2011 cash ISA allowance (£5,100) by 30 April 2010

More on Cash ISA max fund bonus offer


Tax-free* interest - so your savings can grow fast

Instant access - get your money when you need it

Manage your ISA - do your banking in-branch, online and on the phone

Interest calculated daily and paid at the end of every March. We can pay the interest into your Instant Access Cash ISA or another Royal Bank of Scotland account

Set up and track your own personal savings goals - through Digital Banking

*Interest is paid tax-free which means it is exempt from UK income tax


Cash ISA for current tax year 2009 / 2010


Earn 0.55% - 2.00% Gross / AER (variable) - with instant access

No minimum deposit - it's easy to get started. You can deposit up to £3,600 or £5,100 (if you are aged 50 by 5 April 2010) in each tax year

Transfer your existing ISAs


Easy transfers - It's simple to move a cash ISA (including a previous TESSA-only ISA) to RBS. You'll simply need to complete a Cash ISA transfer form. Then simply take the completed ISA transfer form into your local branch or post it to: Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ. (Please note transfers within the RBS Group (including NatWest) are not eligible for the bonus.)

Your existing ISA provider has a maximum of 30 days, or to the end of any required notice period, after receiving your transfer request to send your ISA monies to us. This period is specified within the ISA Regulations and Her Majesty’s Revenue & Customs (HMRC) ISA Guidance Notes for ISA Managers

If you do not currently have an ISA with us we'll open an account for you in branch. If you don't already bank with us we'll also need to open an instant access savings account which can be managed at a branch in the UK, so please bring appropriate ID.

Not paid into your Cash ISA for over a year?


If you are an existing customer and you haven't paid money in to your ISA for a whole tax year you will need to complete a re-activation form before you can pay money in again. Please take your completed application forms to your local branch or post it to: Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ.

Interest rates are subject to variation

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Cash ISA transfer in bonus offer


Earn a fixed rate bonus of 0.5% gross p.a. for 12 months when you apply to transfer in funds from another cash ISA provider (excludes transfers within the RBS group, which includes NatWest) by 30 April 2010.

How to qualify:

  • Simply complete and submit a transfer request form by 30 April 2010
  • The bonus will be applied to your account from the date we receive your cash ISA transfer request form and guaranteed for 12 months from when we receive your transferred funds
  • If you make any withdrawals during the 12 month period, the 0.5% gross p.a. bonus interest will be applied to your reduced balance.

Please note:

The bonus rate is applied from the date of receipt of the transfer form and will accrue 12 months from the date of receipt of the transferred funds. Interest is calculated daily and applied on the whole balance for that month over a period of 12 months.

The bonus interest will be paid annually to the account on 31 March, along with the standard rate of interest – see rates

Interest is paid tax free which means it is exempt from UK income tax. The underlying interest rate is subject to variation. This offer is not available to customers in conjunction with any other Cash ISA offer.

Cash ISA max fund bonus offer


Earn a fixed rate bonus of 0.5% gross p.a. for 12 months, starting from 1 May 2010, when you save your full 2010/2011 cash ISA allowance (£5,100) by 30 April 2010.

How to qualify:

  • Save your full 2010/2011 cash ISA allowance (£5,100) by 30 April 2010
  • If you make any withdrawals during the 12 month period, the 0.5% gross p.a. bonus interest will be applied to your reduced balance.

Please note:

This means your 2009/2010 and 2010/2011 contributions will receive a bonus of 0.5% gross p.a. which will be paid on 31 May 2011. Any other balances you’ve saved in previous years will receive the standard underlying interest rate – see rates

The bonus is only payable to customers who save their full 2010/2011 cash ISA allowance (£5,100) by 30 April 2010. The bonus interest is calculated daily, based on a maximum of £10,200 (£8,700 for customers who will not be 50 on or before 5 April 2010), from 1 May 2010 to 30 April 2011 and is payable in one lump sum on 31 May 2011.

Interest is paid tax free which means it is exempt from UK income tax. The underlying interest rate is subject to variation. This offer is not available to customers in conjunction with any other Cash ISA offer.

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Using your Instant Access Cash ISA

ISA transfers

Cash ISA transfer in bonus offer


Cash ISA max fund bonus offer

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Using your Instant Access Cash ISA


Do I need another account with The Royal Bank of Scotland?
Yes. If you do not already have a current account or instant access savings account with us, you will need to open an instant access savings account which can be managed at a branch in the UK.

Are there any penalties?
No. You can withdraw your money or close your account at any time. We'll simply pay interest on the daily cleared balance.

Can I transfer money in from more than one bank or building society?
Yes. Simply fill out a cash ISA transfer form for each one you want to transfer.

I have paid £700 of my current tax year allowance into a Cash ISA with another provider. Can I open another Cash ISA with RBS and pay the remainder of my annual allowance?
No, due to Cash ISA Regulations you cannot have more than one Cash ISA in a tax year. However, you can pay the remainder of your annual allowance into your existing Cash ISA with the other provider and then transfer it over to us.

Do I need to enclose a cheque for my initial deposit and who should I make it payable to?
If you wish to make an initial deposit, please enclose a cheque with the application form and make it payable to yourself. If you do not wish to make an initial deposit you do not need to send a cheque.

I have received my ISA application form, what do I put in the 'credit interest' section?
If this section is left blank, interest will automatically be credited to your ISA. If you would like to credit another RBS account, please specify the details on the box provided.

I am registered with Digital Banking, how do I check what my cash ISA limit is?
You can check how much you can pay/have paid in to your cash ISA account on the 'View Account Details' screen.

You can access that screen by selecting your cash ISA account on the 'Accounts Summary' and then selecting the 'View Account Details' button, near the bottom of the screen.

If you have not used any of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year'.

If you have used some, but not all, of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year' and 'Deposits so far this year'.

If you have used all of your cash ISA allowance for the tax year, it will show the 'Deposits so far this year'.

ISA transfers


How do I transfer a Cash ISA with another provider to The Royal Bank of Scotland?
You'll need to complete a Cash ISA transfer form. Simply take the completed form into your local branch or post it to Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ.

Your existing ISA provider has a maximum of 30 days, or to the end of any required notice period, after receiving your transfer request to send your ISA monies to us. This period is specified within the ISA Regulations and Her Majesty’s Revenue & Customs (HMRC) ISA Guidance Notes for ISA Managers

If you don’t currently have an ISA with us we'll open an account for you in branch, online or over the phone. If you don't already bank with us we'll also need to open an instant access savings or current account, so please bring appropriate ID.

How long does it take to transfer a Cash ISA?
No more than 30 days. We follow the rules set down by HM Revenue and Customs.

I have a TESSA ISA - can I transfer this to you?
Yes, since 6 April 2008 these have been classed as Cash ISAs so you can transfer these to The Royal Bank of Scotland.

I have a stocks and shares ISA - can I transfer this to you?
No. Stocks and shares ISAs cannot be converted to Cash ISAs.

I have an old Cash ISA with The Royal Bank of Scotland which I haven't used for several years. Can I transfer my Cash ISA with another bank to you?
Yes. However you will also need to complete a re-activation form as well as a Cash ISA transfer form.

I only want to transfer part of my cash ISA balance to The Royal Bank of Scotland - can I do this?
We will accept partial transfers, however you will need to check with your existing ISA provider as their terms and conditions may not allow partial transfers.

What should I enter in the initial deposit section if I have already fully subscribed my tax-free allowance for the year?
Please key in £1 initial deposit, select payment method cheque/cash and click that you do not wish to make regular savings. This will allow you to move forward through the screens. By enclosing the transfer form with your application we will be aware that you do not wish to deposit £1 therefore you will not be oversubscribing to your ISA.

Cash ISA Transfer in bonus offer


How do I qualify for the bonus?
You must apply to transfer in funds from another Cash ISA provider between 01 February 2010 and 30 April 2010. Transfers from within RBS Group, which includes NatWest, are excluded from this offer. This offer is not available to customers in conjunction with any other Cash ISA offer.
The bonus will be applied to your account from the date we receive your Cash ISA transfer request form (and guaranteed for 12 months from when we receive your transferred funds).

I have an old Cash ISA with RBS, can I transfer this to an Instant Access Cash ISA and qualify for the bonus?
No. Only transfers from other ISA providers will qualify for the bonus. Any transfers from within the RBS Group (including NatWest) are not eligible.

When is the bonus interest paid?
We pay bonus interest at the same time as regular interest – at the end of March each year.

How long is the bonus paid for?
The bonus rate is applied from the date of receipt of the transfer form and will accrue for 12 months from the date of receipt of the transferred funds.

For example, if your cash ISA transfer request reaches us on 15 February 2010, the bonus will be applied to your account on 15 February 2010, and when we receive the funds in your Instant Access Cash ISA account, i.e. on 15 March 2010 the bonus period will expire on the 12th month anniversary of receipt of the funds, i.e. 15 March 2011.

If you make any withdrawals during the 12 month period, the 0.5% gross p.a. bonus interest will be applied to your reduced balance.

I am currently qualified for the transfer in offer, can I also qualify for the max fund offer?
No. You can only qualify for one offer (either the transfer in offer or the max fund offer).

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Cash ISA max fund bonus offer


How do I qualify for the bonus?
To qualify for the bonus you must save your full 2010/2011 cash ISA allowance (£5,100) in an Instant Access Cash ISA by 30 April 2010.

This offer is not available to customers in conjunction with any other Cash ISA offer.

When is the bonus interest paid?
Bonus interest is payable in one lump sum on 31 May 2011.

If you make any withdrawals during the 12 month period, the 0.5% gross bonus interest will be applied to your reduced balance.

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AmountGross Rate % p.a.AER% (variable)Net Rate % p.a.
Instant Access Cash ISA (Annual Interest)
£50,000 +2.002.00n/a
£27,000 - £49,9991.901.90n/a
£22,000 - £26,9991.751.75n/a
£15,000 - £21,9990.950.95n/a
£9,000 - £14,9990.750.75n/a
£1 - £8,9990.550.55n/a
Instant Access Cash ISA (Annual Interest with 1% bonus)
£50,000 +3.003.00n/a
£27,000 - £49,9992.902.90n/a
£22,000 - £26,9992.752.75n/a
£15,000 - £21,9991.951.95n/a
£9,000 - £14,9991.751.75n/a
£1 - £8,9991.551.55n/a
For customers who apply to transfer in funds between 09 February 2009 until 25 April 2009.

Instant Access Cash ISA (Annual Interest with 0.5% bonus)
£50,000 +2.502.50n/a
£27,000 - £49,9992.402.40n/a
£22,000 - £26,9992.252.25n/a
£15,000 - £21,9991.451.45n/a
£9,000 - £14,9991.251.25n/a
£1 - £8,9991.051.05n/a
For customers who apply to transfer in funds between 01 February 2010 to 30 April 2010 OR for customers who save their full 2010/2011 cash ISA allowance by 30 April 2010).

Instant Access Cash ISA (Annual Interest with 0.75% bonus)
£50,000 +2.752.75n/a
£27,000 - £49,9992.652.65n/a
£22,000 - £26,9992.502.50n/a
£15,000 - £21,9991.701.70n/a
£9,000 - £14,9991.501.50n/a
£1 - £8,9991.301.30n/a
For customers who applied to transfer from 18 September 2008 until 09 November 2008 and accepted Replace and Extend Offer from November 2009 until 31 January 2011.

How it's calculated - we apply the bonus from the date we receive your Cash ISA transfer form. However, the 12 month period starts when we receive the funds from your old Cash ISA provider. So you could get our market-leading rate for longer than 12 months.

Paying your interest and bonus - we pay the interest annually to the account, or another account at the same branch. The bonus will be paid annually on 31 March along with the standard interest payment. Interest is paid tax-free which means it is exempt from UK income tax

Eligible transfers - the bonus is for customers transferring in ISA funds from another provider. This excludes transfers within the RBS Group (including NatWest).

Last updated on 02 February 2010

Gross rate - is the interest rate paid before the deduction of tax.

Annual Equivalent Rate (AER) - illustrates what the interest rate would be if paid and compounded each year.

Net Rate - is the interest rate paid after deduction of tax.

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ISAs can be made up of cash or stocks and shares.

You can have one Cash ISA and one Stocks and Shares ISA per tax year. These can be held with different ISA providers

The Instant Access Cash ISA is only available to private individuals who are aged 16 or over, are resident and ordinarily resident in the UK for tax purposes or otherwise qualify under the ISA regulations. This account is only available to you if you have not subscribed to another Cash ISA, or you have not invested the maximum amount in a Stocks and Shares ISA in the tax year in which a subscription is made to the account.

You can open an Instant Access Cash ISA with as little as £1.

Because of their tax advantages, there is a limit on how much you can deposit in Cash ISAs during any tax year. This limit is currently £3,600. From 6 October 2009, customers aged 50 or over by 5 April 2010, can save up to £5,100. Once you have deposited the maximum allowed, you won't be able to make any more deposits in that tax year, even if you have made withdrawals.

New customers will be asked to provide proof of identity including verification of address.

Tax reliefs referred to are those applying under current legislation which may change. The favourable tax treatment for ISAs may not be maintained. The availability and value of the reliefs will depend on your individual circumstances. The value of investments and any income from them can fall as well as rise, and an investor might not get back the original amount invested in an investment.

System updates will mean that our internet and telephone banking services are unavailable for short periods in the early hours of the morning.

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