ISA Saver

Some of our ISAs will change into this account at the end of their term.

Who this account is for

  • If you have a Fixed Cash ISA, Access Cash ISA, or Advantage ISA Saver with us that's coming up to the end of its term, we will contact you to let you know your options. If you don't ask us to do something else, your ISA will change to an ISA Saver.
  • This ISA is not available to any other customers. If you don't have a cash ISA coming up to the end of its term, you could compare our other accounts.
  • You must still be a UK resident to add more money into the ISA Saver.

The benefits

  • Earn up to 1.80% AER/tax free variable interest. The rate depends on your balance. See summary box for details.
  • Save and withdraw your money as it suits you.
  • This is a flexible ISA. This means you can take out money and put it back in within the same tax year without affecting your ISA allowance.

How it works

  • If you choose to let your cash ISA change into this account, your sort code and account number will stay the same.
  • You will be able to save what you like within the ISA allowance. This is £20,000 this tax year across all your ISAs.
  • You could renew your ISA Saver to another account. It's important you review your savings options.

Summary box for the ISA Saver

  • 1.45% AER/tax free on balances from £1 - £9,999.

    1.50% AER/tax free on balances from £10,000 - £49,999. 

    1.80% AER/tax free on balances of £50,000 or more.

    The interest rate is variable. The rate applies to the full balance. There will be no change to how often your interest is paid.

     

  • Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our terms and conditions (PDF, 399KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.

     

  • For example, if you deposit £1,000.00 when you open the account, the balance after 12 months will be £1014.50.

    If you deposit £10,000.00 when you open the account, the balance after 12 months will be £10150.00.

    If you deposit £50,000.00 when you open the account, the balance after 12 months will be £50900.00.

    This assumes:

    • Your interest is paid each year.
    • You make the deposit on the day you open the account and then you don’t add any more money.
    • You don’t withdraw any money.
    • You keep your interest in this account.
    • The interest rate stays the same.

     

  • How the account is opened

    If you have a Fixed Cash ISA, Access Cash ISA, or Advantage ISA Saver with us that's coming up to the end of its term, we will contact you to let you know your options. If you don't ask us to do something else, your ISA will change to an ISA Saver.

    Your sort code and account number will stay the same. You can carry on saving with your new ISA Saver.

    This ISA is not available to any other customers.

    Managing the account

    You can manage your account:

    • online
    • on the app
    • by phone
    • in branch.

    Bear in mind:

    • You can only save into one cash ISA in a tax year with Bank of Scotland, unless you do an ISA transfer. If your cash ISA changes to an ISA Saver, it counts as the same cash ISA because the sort code and account number will stay the same. ISA regulations allow multiple cash ISAs to be funded in a tax year. However, the Bank of Scotland conditions only allow you to fund one cash ISA with us in a tax year.
    • You can transfer money from an ISA you have with us or another bank. Find out how to transfer an ISA.
    • The ISA allowance is £20,000 this tax year. This means you can save up to £20,000 in total across your ISAs this tax year. Learn more about ISAs.
    • ISAs cannot be made joint.

     

  • Yes. You can make as many withdrawals as you like from this account and there are no charges for doing so.

    This is a flexible ISA. This means if you are a UK resident and 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're not a UK resident, you can withdraw some of your money but you can't replace this money or save any more.

    Any money you move to an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in the future.

    You can close your account at any time.

     

  • Tax free means you will not pay income tax on your interest.

    AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

    For more definitions, view our savings glossary.

Not the account for you?

If you don’t have one of these ISAs coming to the end of its term, this isn’t the account for you.

Financial Services Compensation Scheme

Eligible deposits held with us are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.

FSCS logo