Bank of Scotland Fixed Rate ISAs
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- Term: 1 Year
- Invest From: £1,000
ISA transfers in allowed. FSCS Protected. Must be UK resident and aged 16 or older. Withdraw cash early if you need to (subject to loss of interest)
- Term: 1 Year
- Invest From: £100
Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 90 days lost interest
- Term: 1 Year
- Invest From: £1,000
Terms and Conditions: You must be 18 or over and a UK Resident. Currently you can only subscribe to one Cash ISA with NatWest Bank per tax year. Sole accounts only. Rate available until 5pm on 31/07/2024 for new customers and 05/08/2024 for existing customers. Offer may be withdrawn early due to limited availability.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. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice in branch. ISA subscription limits apply. If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other cash ISA with NatWest, except for a NatWest Help to Buy: ISA. Early Closure Charge applies. The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest. The Early Closure Charge will be deducted from the balance of your Fixed Rate ISA. The interest payable on the money held in your account is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
- Term: 1 Year
- Invest From: £1,000
Terms and Conditions: You must be 18 or over and a UK Resident. Currently you can only subscribe to one Cash ISA with RBS Bank per tax year. Sole accounts only. Rate available until 5pm on 14/08/2024 for new customers and 19/08/2024 for existing customers. Offer may be withdrawn early due to limited availability.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. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice in branch. ISA subscription limits apply. If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other cash ISA with Royal Bank of Scotland. Early Closure Charge applies. The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest. The Early Closure Charge will be deducted from the balance of your Fixed Rate ISA. The interest payable on the money held in your account is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
- Term: 2 Years
- Invest From: £100
Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 180 days lost interest
- Term: 2 Years
- Invest From: £1,000
ISA transfers in allowed. FSCS Protected. Must be UK resident and aged 16 or older. Withdraw cash early if you need to (subject to loss of interest)
- Term: 3 Years
- Invest From: £100
Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 240 days lost interest
- Term: 2 Years
- Invest From: £1,000
Terms and Conditions: You must be 18 or over and a UK Resident. Currently you can only subscribe to one Cash ISA with NatWest Bank per tax year. Sole accounts only. Rate available until 5pm on 31/07/2024 for new customers and 05/08/2024 for existing customers. Offer 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. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice in branch. ISA subscription limits apply. If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other cash ISA with NatWest, except for a NatWest Help to Buy: ISA. Early Closure Charge applies. The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest. The Early Closure Charge will be deducted from the balance of your Fixed Rate ISA. The interest payable on the money held in your account is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
- Term: 2 Years
- Invest From: £1,000
Terms and Conditions: You must be 18 or over and a UK Resident. Currently you can only subscribe to one Cash ISA with RBS Bank per tax year. Sole accounts only. Rate available until 5pm on 14/08/2024 for new customers and 19/08/2024 for existing customers. Offer 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. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice in branch. ISA subscription limits apply. If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other cash ISA with Royal Bank of Scotland. Early Closure Charge applies. The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest. The Early Closure Charge will be deducted from the balance of your Fixed Rate ISA. The interest payable on the money held in your account is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
Review of Bank of Scotland Fixed Rate ISA
As your tax-free amount is much higher in an ISA, there are still opportunities for savers to make the most of their money. It’s also important to remember that ISA allowance limits apply to everyone on an individual basis, so if you’re married or in a relationship, you can both hold your own ISA, each with the full allowance.
Bank of Scotland currently offer a range of ISAs, including: the Help to Buy government backed ISA, A Fixed Cash ISA and an Access Cash ISA.
Fixed Cash ISA
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 £500 and up to £20,000, less any amount invested in a stocks & shares ISA and/or innovative finance ISA in the same tax year
- Transfers into our cash ISAs take advantage of our ISA promise
- Choose for your interest to be paid monthly or annually on anniversary of account opening
Help to Buy: ISA Online
The first step to owning your first home, this is a government backed savings account with the ocus of helping people buy their first homes. It’s currently paid interest at 1.50% and you are able to save £200 a month after the initial £1000 maximum deposit (this is slightly lower than other Help to Buy ISAs which allow you to deposit £1200).
You are able to withdraw your money but you won’t be eligible for the 25% bonus (a maximum of £3000) which the government provide once you go to buy your home.Other features include:
- Interest that can be paid monthly or annually
- Opening the account with £1 up to £1,000, this must be received within 21 days of account opening
- Save from £1 to £200 each month by standing order to be received by 25th of each month
Bank of Scotland’s Promise
Bank of Scotland’s ISA promise is a nice touch and offers peace of mind to anyone worried about transferring their money. Their promises include:
1. When you switch your cash ISA, stocks & shares ISA or innovative finance ISA to Bank of Scotland they will not wait for your current provider, we pay interest from day one of receiving your completed transfer application, as long as your funds are free to transfer.
2. They keep you informed
- while switching your cash ISA, stocks & shares ISA or innovative finance
- when your introductory rate, bonus period or fixed rate cash ISA offer is coming to an end
- Of your cash ISA’s interest rate, including: personal interest rates on paper statements, online & mobile
3. We won’t offer any of our cash ISA products to new customers only.
Bank of Scotland offer a competitive rate of interest at 0.50% tax free/ AER Fixed for the term and offer various lengths of term contracts.
An ISA is a tax efficient way to save as they allow you to pay little or no tax on the interest of your savings and investments making them a popular choice for saving large amounts of money. As you can earn tax-free interest on up to £20,000, this makes it a great choice for people who have a higher amount of savings as current accounts mostly offer interest on much lower amounts.
Frequently Asked Questions
How do I invest in a Stocks and Shares ISA?
You can invest in a Stocks and Shares ISA by opening an account online, over the telephone or by post.
You will need to make a contribution to open your account, either via Direct Debit or a debit card payment.
Can I lose money in a Stocks and Share ISA?
Your investments can go up as well as down, and so you should always be prepared for the event that you could lose money.
How much money can I put in a Stocks and Shares ISA?
You can add £20,000 for the current tax year, and this amount refreshes each tax year.
How do I add money to a Junior Stocks and Shares ISA?
You can top up a Junior Shares ISA online, via your mobile app, over the phone, or by post with a cheque.
You can add money with a lump sum or regular direct debit.