Compare RBS ISAs

RBS ISA

If you’re trying to find out how to get the most out of your annual ISA allowance, it’s a good idea to shop around the different providers in addition to RBS ISA plans to compare and find the top, best buy product for the type of ISA you want.

You can use the comparison table to view selection offerings from different providers and click the links to apply:

RBS ISAs

1. Instant Access Cash ISA – Allows you access to your money instantly with no withdrawal penalties so you can take money out whenever you like. You can add money by a one off payment, standing or simply pay in when you want. It offers a variable rate of interest on a tiered system so by putting more in you could potentially achieve a higher rate of interest.
2. Fixed Rate ISA – Gives you opportunity to earn a fixed rate of interest providing you can lock your savings away for a one or two year term. This account requires a minimum deposit of £1,000. Partial withdrawals and additional deposits are not permitted after the start date. Early closure is possible but will incur an interest penalty equivalent to a set amount of day’s tax-free interest. This plan also features a tiered rate of interest so savers who invest more could potentially receive a better interest rate

1. RBS Stocks and Shares ISA – allows you to invest in shares, funds, gilts and bonds.

Types of ISA

There are two different kinds of ISA available in the UK; Cash ISAs and Stocks & Shares ISA which are considerably different from each other. You can only open one of each kind of ISA each year, however your maximum allowance stays the same regardless of if you only open one kind of ISA or both, this means that if you opt to have both a Cash ISA and a Stocks & Shares ISA you will need to break up your allowance between the two this can be done at a ratio of your choice as long as your limit is not exceeded.

1. Cash ISAs – This type of ISA is essentially the same as any savings account; however the interest you earn on it is tax-free up to your allowance. There are different kinds of Cash ISA’s can be further broken down into different kinds such as Fixed Rate and Easy Access. Generally speaking the less access to make withdrawals a plan offers the better the interest rate this varies by provider however.

1. Stocks & Shares ISAs – Are investment accounts, so they are not investments in themselves. They rather provider a tax-efficient ‘wrapper’ which you can use to invest in other products like stocks. Self-select plans require you to directly choose shares and stocks to invest in; other plans offer a kind of collective investment scheme, where your money is pooled with other investors into funds. These are all capital at risk products, this means that if the value of your investment decreases you could get back less than what you originally put in. This type of account still requires you to pay tax on any dividends however it offers advantages when it comes to Capital Gains Tax and Income Tax.

ISA Transfer

Providers of ISAs must allow you to transfer to another provider; however they can impose interest penalties for doing so. As such while it can be advantageous to move your account if you find a better deal, if your current arrangement has a penalty then before you make a move you should first work out, if factoring in that penalty, you would actually earn more interest overall by staying put.