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Royal Bank of Scotland ISAs

Apply for an Instant Access ISA today

Earn tax-free interest on your savings.

Get instant access to your money for peace of mind.

Build up your tax-free savings using this year's £20,000 ISA allowance before 5th April.

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.

Pink banknote and coin stack

What is a cash ISA and how does it work?

Pay money in as you go and get instant access to your savings.

Save up to £20,000 each year in a Instant Access ISA, without having to pay tax on the interest you earn.

Transfer ISA balances from other providers after opening your new RBS ISA. Learn how to transfer an ISA.

Get annual interest payments into your account.

Summary Box

Account name: Instant Access ISA

What is the interest rate?

Balance

£1 - £24,999
£25,000+

Tax-free p.a./AER (variable)

1.40%
2.70%
Interest is paid on a tiered basis which means you'll earn one rate on your entire account balance. Interest is calculated daily and paid into your account annually on the first business day in April and at account closure.

Can Royal Bank of Scotland change the interest rate?

Yes, these rates are variable. If the rates are going down and your balance is £100 or more, we'll give you at least 14 days' notice. If the rates are going down and your balance is less than £100, we'll inform you before the change or shortly afterwards. If the rates are going up, we'll inform you before the change or shortly afterwards. For more information please see the Savings Account Terms (PDF, 501 KB).

What would the estimated balance be after 12 months based on a range of deposits?

Initial deposit at account opening

£1,000.00
£25,000.00

Balance after 12 months

£1,014.00
£25,675.00

Interest earned

£14.00
£675.00
These are only examples and do not take into account your individual circumstances. They assume that no further deposits or withdrawals are made; there is no change to interest rates and tiers; and any interest earned stays in the account.

How do I open and manage my account?

Your eligibility

Instant Access ISAs are open to existing Royal Bank current account customers aged 18+. You must be resident in the UK for tax purposes.

You can only hold one Instant Access ISA with Royal Bank.

If you already have an Instant Access ISA with us, keep paying into that account.

You must:

  • not have subscribed to another Cash ISA with us or have subscribed to more than the overall subscription limit in total to a Cash ISA, a Stocks & Shares ISA, an Innovative Finance ISA and or a Lifetime ISA in the same tax year
  • hold the account solely in your name

You can open and manage your account on our mobile app, online or by telephone.

To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.

Balance and ISA allowance

There is no minimum deposit required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.

However, there is a limit on the amount you can pay into your account each tax year (6 April to 5 April). This annual limit also known as your “ISA allowance”, is set by the Government and may change from time to time. For the current tax year it is £20,000. If you pay in more than the limit any excess money will be returned to you.

If you make a payment for a tax year into your Instant Access ISA, you can’t make any payments for that tax year into any other Cash ISA with us.

You can transfer all or part of any ISA held with another provider to us. Click here to find out more.

Can I withdraw money?

This is a non-payment account.

Yes. No notice is required.

  • You can withdraw money: in branch or by transfer to another account held with us in your name (online, by telephone or on the mobile app).
  • If you make a withdrawal, you will not be able to deposit more money into your account if it means you will exceed the annual limit.
  • You can transfer your ISA (or part of it) to another ISA manager.

There are daily limits on the amount of money you can withdraw from your account by phone, online or mobile app. Find out more about the daily limit or speak to us on the phone about them.

Frequently asked questions

Have your statements at your fingertips

We'll email you when your statements are ready to view in Digital Banking. You can check them whenever you want.

Information Message

Definitions

Annual Equivalent Rate (AER) shows the interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.

Compound interest is interest that is earned on interest that’s already been paid.

Gross means the interest rate you are paid on your savings with no compounding.

p.a. per annum (per year).

Tax-free.  We pay all savings interest without the deduction of tax.  You do not pay any UK tax on interest earned in ISAs. You may have to pay tax on interest earned in non-ISA accounts depending on your Personal Savings Allowance. The tax treatment may be subject to change in the future.

Information Message

Information Message

We will soon be making changes to our Terms and Conditions, see the changes here.

Get ready to apply

Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.

First things first. Please take a look at the important legal info:

If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.

Instant Access ISA | Savings | Royal Bank of Scotland

How your information might be used

It’s important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

As part of the checks that we will complete to verify your identity, we’ll take an image of your face so that it can be compared with your photo ID and this  is captured.

 

All okay? You're nearly ready to start.

To speed up your application for our Cash ISA account, we need to do a few final checks with you. They'll only take a minute.

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