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Compare current cash ISA rates

Earn tax-free interest on your savings

Choice of instant access or fixed rate options available

Build up your tax-free savings using your £20,000 ISA allowance by 5th April

Choose an ISA that works best for you

Cash ISAs are a simple, tax-free way to save. They could make your money work harder than a traditional savings account. 

What is a cash ISA?

  • An ISA (Individual Savings Account) is sometimes known as a 'tax wrapper' as you won't have to pay income tax on the interest you earn.
  • You can pay in up to £20,000 each tax year across all ISA accounts you hold as part of your annual ISA allowance. 
  • Royal Bank offers two types of cash ISA for over 18s; an instant access cash ISA and a fixed rate cash ISA. 

I want to open a new ISA

Is a Fixed Rate ISA best for you?

  • Fixed interest for long term savings with tax-free benefits.
  • Choose a term and open your account with £1,000.
  • Fix your saving interest rate, so you know exactly what your pot will earn.


1 and 2 year Fixed Rate ISA rates

  • 4.15% AER/Tax-free p.a. (fixed) 1 year term.
  • 4.00%  AER/Tax-free p.a. (fixed) 2 year term.

No withdrawals or deposits during the term. Available until 5pm on 12 February 2025 to new customers.

Existing customers have until 17 February 2025. 

Please note that these issues may be withdrawn early due to limited availability.

Interest is calculated daily and paid annually to your ISA on the first business day in April and on the Maturity Payment Date. Early closure fees may apply.

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Is an instant access cash ISA best for you?

  • Flexible savings with tax-free benefits.
  • Start your ISA savings with little as £1.
  • Take money out whenever you need it.

 

Royal Bank's Instant Access ISA rates 

  • 1.50% AER / Tax free p.a. (variable) Balances of £1-£24,999.
  • 2.80% AER / Tax free p.a. (variable) Balances of £25,000+.
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I want to transfer from an existing cash ISA

An ISA transfer is when you switch your ISA savings to a new provider. You might do this to get a better interest rate, or to take advantage of a different type of ISA altogether. You can transfer an existing ISA elsewhere into your Royal Bank Cash ISA at any time, bringing all your ISAs together in one place.

Full details on how to complete an ISA transfer can be found here.

What is an ISA allowance?

Your ISA allowance is the maximum amount you can save tax free during the current tax year.  You get a new ISA allowance every year, which is set by the UK Government. The ISA allowance for the current tax year is £20,000.

The tax year runs from 6th April to 5th April. ISA allowances can't be carried over from one tax year to the next, so if you don't pay in your full allowance before 5th April, you'll lose the rest of that year's allowance. Anything you save into an ISA after the 5th April will be counted as part of your ISA allowance for the new tax year.

Cash ISA - FAQs

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Take a look at other saving options

We have a range of other savings accounts available. Check out all the options we've got to see if one might be right for you.

Please remember that once you move your money from an ISA to a non-ISA account the money will no longer have tax free status.

Specific account eligibility criteria apply.

Financial Services Compensation Scheme

Your eligible deposits with Royal Bank of Scotland are protected by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.

Find out more about the scheme and how it protects your money.