with tax-free savings in a Cash ISA.
You must be a UK resident aged 18+. You can only subscribe to one Cash ISA with Royal Bank of Scotland in any tax year up to £20,000. Tax free Interest means interest payable is exempt from UK income tax. Tax reliefs referred to are those applied under current UK legislation, which may change.
Choose an ISA that works best for you
Cash ISAs are a simple, tax-efficient way to save. It could make your money work harder than a traditional savings account.
Cash ISAs & Fixed Rate ISAs explained
An ISA (Individual Savings Account) allows you to save up to £20,000 each tax year without having to pay income tax on the interest you earn.
Royal Bank offer two types of cash ISA for over 18s an Instant Access ISA and a Fixed Rate ISA. Under 16s can apply for a Junior ISA.
Is an instant access Cash ISA best for you?
Flexible savings and tax-free benefits
Instant access savings with Cash ISA
- Start your ISA savings with little as £1.
- Take money out whenever you need it.
Royal Bank's Cash ISA interest 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+.
Is a Fixed Rate ISA best for you?
Fixed interest so you know how much you will earn
Fixed interest for long term savings
- Choose a term and open your account with £1,000.
- Fix your Cash ISA interest rate and watch your savings grow.
One and two year Fixed Rate ISA rates
- 4.00% AER/Tax-free p.a. (fixed) 1 year term.
- 3.80% AER/Tax-free p.a. (fixed) 2 year term.
No withdrawals or deposits during the term. Available until 5pm on 08 January 2025 to new customers.
Existing customers have until 13 January 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Please note that these issues may be withdrawn early due to limited availability.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.
Cash ISA - FAQs
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.