Cash ISA Account
With this ISA you can deposit a lump sum and watch your savings grow, tax free. The key features of this account include:
- A minimum opening deposit of £1000
- The account can have a maximum balance of £25,000
- As it is an ISA, you can only put £20,000 into this account each year (assuming this is your only ISA account)
- All the tax benefits of an ISA but with quick and easy access to your money
- Latest interest rates can be found in the table on this page
- You cannot have a joint account
- The account must be opened by the account holder; power of attorneys, for example, are not able to open this.
- You must be 18 and a permanent resident in the UK to open this account
- Minimum withdrawal amount of £500; the Cash ISA is not flexible, so you might not be able to put money back in after a withdrawal if that deposit happens to take your over the maximum annual allowance for that tax year.
Shawbrook Bank’s Promise
Shawbrook Bank promises an easy banking experience with consistently good rates – just good service without the gimmicks. Their promises include:
1. You can switch to our ISA.
When you switch your cash ISA, stocks & shares ISA or innovative finance ISA to Shawbrook Bank, they will not wait for your current provider to process before starting to pay interest. Shawbrook pay interest from day one of receiving your completed transfer application, as long as your funds are free to transfer.
2. You can withdraw your money
You can withdraw your money from this account at any time without having to give notice. You can even do withdrawals online. There are no limits on the number you can make, but your withdrawals can only be made to your nominated account.
3. Shawbrook offer consistent, competitive interest rates rather than attractive gimmicks
Shawbrook offer a competitive rate of interest on this account. This is a very good rate of interest, and given the promise of consistency, this is a good stable choice. Both monthly and yearly interest rates can be found on this page.