Digital Banking
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e-ISA
Earn tax free interest on your savings:
| Balance | AER (variable) | Gross p.a. (variable) |
|---|---|---|
| £30,000 + | 2.25% | 2.23% |
| £10,000 - £29,999 | 2.00% | 1.98% |
| £0 - £9,999 | 1.75% | 1.74% |
- Transfers in allowed – bring all your cash ISAs together in one place
- Instant Access – easy to manage online only account
- Tax free interest means that interest payable is exempt from UK income tax
- Majority of existing customers can open an e-ISA in less than 5 minutes
Opening an e-ISA account
Important information - please read before you apply
- You need to be aged 16 or over and permanently resident in the UK to open an account.
- Important information if you're considering opening an account in England or Wales.
When applying for an account we will use all existing information you have provided us with as part of the application. If you would like to change any of your personal information, please either log in to Digital Banking or visit your local branch before applying.
In order to prevent and detect fraud, the information provided in this application will be shared with fraud prevention agencies. If false or inaccurate information is provided and fraud is identified or suspected details will be recorded with these agencies to prevent fraud and money laundering.
It is important that you read the following documents carefully before you open your account. Please save or print a copy of each document for future reference:
More on the features and benefits of the e-ISA account
Earn tax free interest from 1.75% AER (variable)
Our current e-ISA rates
| Balance | AER (variable) | Gross p.a. (variable) |
|---|---|---|
| £30,000 + | 2.25% | 2.23% |
| £10,000 - £29,999 | 2.00% | 1.98% |
| £0 - £9,999 | 1.75% | 1.74% |
Interest paid monthly
Note: Internet based account only.
Last updated 1st March 2013.
Common definitions
Annual Equivalent Rate (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.
Gross Rate. This means the interest rate you are paid before the deduction of income tax.
Features and benefits
Why choose an RBS e-ISA?
- Earn tax free interest from 1.75% AER (variable)
- Save up to £5,760 in a cash ISA - this is the limit for tax year 2013/2014
- No penalties - we won't charge you for withdrawing your money. However, if you decide to make a further deposit, remember that you can only deposit a maximum of £5,760 in a cash ISA over the 2013/2014 tax year.
- Monthly tax-free interest - paid directly into your account.
- Get the savings habit - we can set up a regular transfer from your other RBS account
- You can manage your RBS e-ISA account easily online or on your mobile
- Set up and track your own personal savings goal for your account - through Digital Banking
Tax free interest means interest payable is exempt from UK income tax.
Transfer your existing cash ISAs
If you have other cash ISAs you can transfer them to us, find out more information on how to transfer cash ISAs.
If you'd like more information on how to transfer your ISA, here is a simple guide ( PDF File 354KB) provided by the British Bankers Association.
How long does it take?
Your existing ISA provider has a maximum of five working 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 HM Revenue & Customs (HMRC) ISA Guidance Notes for ISA Managers.
Partial transfers
If you only want to transfer part of your cash ISA balance to your RBS ISA, you should first check with your existing ISA provider as their terms and conditions may not allow partial transfers.
Financial Services Compensation Scheme
Your eligible deposits with Royal Bank of Scotland Plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Royal Bank of Scotland, Direct Line, the One Account, Child & Co, Drummonds and Holt's.
Any deposits you hold above the £85,000 limit are not covered.
Further information is available (PDF 3MB) or visit www.fscs.org.uk
How to transfer your existing cash ISAs to RBS
We have made transferring your ISA simple for our customers. Existing ISA customers can transfer cash ISAs with other providers to NatWest:
- Quick – transfer your ISA in minutes
- Simple – the majority of transfers can be completed electronically, no need to send off any forms
- Peace of mind – we’ ll keep you informed during the process and let you know when your transfer is complete
Existing Customers
If you have an ISA with us, find out more information on how to transfer your ISA.
New customers
You will need to open a Instant Access ISA or Fixed Rate ISA, account before you can transfer any funds into it. You can then transfer your existing ISA straight away.
Interest rates
Our current e-ISA rates
| Balance | AER (variable) | Gross p.a. |
|---|---|---|
| £30,000 + | 2.25% | 2.23% |
| £10,000 - £29,999 | 2.00% | 1.98% |
| £0 - £9,999 | 1.75% | 1.74% |
e-ISA accounts opened from 22nd February 2013 will have the following interest rates, effective from 1st March 2013
| Balance | AER (variable) | Gross p.a. |
|---|---|---|
| £30,000 + | 2.25% | 2.23% |
| £10,000 - £29,999 | 2.00% | 1.98% |
| £0 - £9,999 | 1.75% | 1.74% |
Interest paid monthly
Note: Internet based account only.
Last updated 22nd February 2013
Common definitions
Annual Equivalent Rate (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.
Gross Rate. This means the interest rate you are paid before the deduction of income tax.