Access Cash ISA

An easy access Individual Savings Account (ISA) that pays you tax free interest at a variable rate

Please read the summary box before applying

At a glance

Interest rates

Features and benefits

Keep in mind

Withdrawals

Access

Earn a 0.35% tax free/AER variable  rate for 12 months

  • Open from only £1 and save up to £20,000, less any amount invested in a stocks and shares ISA and/or a lifetime ISA and/or an innovative finance ISA in the same tax year.
  • Flexible ISA rules allow you to withdraw and replace funds from some of our cash ISAs without affecting your yearly ISA allowance, providing you replace funds in the same tax year you withdraw them.
  • Transfers into our cash ISAs take advantage of our ISA promise.
  • Easy access to your money, whether you choose to use our branch, telephone or Internet Banking services.
  • You can only save into one cash ISA in a tax year. This includes Help to Buy: ISAs and cash ISAs held outside Bank of Scotland. For more information, read our guide to ISAs.
  • After 12 months the account will automatically change to an ISA Saver (PDF). Before this happens, we'll contact you to explain your options and the next steps.
  • You can also transfer an existing ISA to us.
  • You need your National Insurance number to apply.
  • Unlimited
  • 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.
  • Online
  • Branch
  • Phone

Earn a 0.35% tax free/AER variable  rate for 12 months

Features and benefits

  • Open from only £1 and save up to £20,000, less any amount invested in a stocks and shares ISA and/or a lifetime ISA and/or an innovative finance ISA in the same tax year.
  • Flexible ISA rules allow you to withdraw and replace funds from some of our cash ISAs without affecting your yearly ISA allowance, providing you replace funds in the same tax year you withdraw them.
  • Transfers into our cash ISAs take advantage of our ISA promise.
  • Easy access to your money, whether you choose to use our branch, telephone or Internet Banking services.

Keep in mind

  • You can only save into one cash ISA in a tax year. This includes Help to Buy: ISAs and cash ISAs held outside Bank of Scotland. For more information, read our guide to ISAs.
  • After 12 months the account will automatically change to an ISA Saver (PDF). Before this happens, we'll contact you to explain your options and the next steps.
  • You can also transfer an existing ISA to us.
  • You need your National Insurance number to apply.

Withdrawals

  • Unlimited
  • 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.

Access

  • Online
  • Branch
  • Phone

Summary Box - Access Cash ISA

1. What is the interest rate?

It's a variable rate as shown in the table below

Your balanceAnnual interest
Tax freeAER
£1+

0.35%

0.35%

  • Your interest is paid annually on the anniversary of the account opening

2. Can Bank of Scotland change the interest rate?

Yes.

As this account pays a variable rate of interest the rate can change over time. For example we might review the interest rate if the Bank of England bank rate changes. We’ll always let you know of any planned changes to the rate. Our account conditions explain when and how we do this.

3. What might the future balance be?

Below is an example of what the future balance might be, after interest has been paid:

Initial depositTax free rateBalance after 12 months

£1000.00

0.35%

£1003.50

This example assumes that:

  • You don't withdraw any money and interest isn't paid out of the account.
  • The interest rate stays the same.
  • You make your initial deposit payment on the day you open the account.
  • You don't make any futhur deposits.

4. How do I open and manage my account?

This account can be opened and managed in branch, by phone or online.

Opening this account

Managing the account

  • ISAs have an annual limit of £20,000 per tax year. This means that you can't pay more than this into any combination of ISAs within the same tax year.
  • You can choose to use your ISA allowance across a range of ISAs but keep in mind that you can only save into one cash ISA in a tax year. This includes cash ISAs held outside Bank of Scotland.

5. Can I withdraw money?

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 tax year and not affect the amount you can save in your cash ISA tax free.

If you choose to close the account and move the money to a non-ISA account, your savings will lose their tax-free status. The tax treatment depends on your individual circumstances and may change in future.

After 12 months the account will automatically change to an ISA Saver. Before this happens, we'll contact you to explain your options and next steps.

6. Additional information

Tax free is the rate of interest payable to you where your interest is exempt from income tax.

ARE stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.

FSCS


Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). For further information about the compensation provided by the FSCS, refer to the FSCS website at www.fscs.org.uk/. You can also visit our Financial Services Compensation Scheme page for more details.

FSCS logo

Open an Access Cash ISA today.

Open an Access Cash ISA

We recommend that you download and read the account conditions (PDF) carefully as they form a legal contract with us. If there is anything you do not understand, please contact us before you agree to them (as part of the application).

Tax treatment depends on your individual circumstances and may change.

Please note:
Rates of interest are subject to change. Rates effective from 0.00am on 17/04/2018. For a definition of AER, tax free and other terms please view our savings glossary.