A quick guide to ISAs
An Individual Savings Account (ISA) is a type of savings account that allows you to grow the money you invest, tax-free. This means your money will work harder than if it was in your current account because any interest you earn isn't taxed.
As you may know, you can open an ISA if you’re a UK resident aged 16 or over; a Junior Cash ISA is for anyone under 18.
We have Cash ISAs to suit different needs
Fixed ISA
Mary's story
Flexible ISA
Brendan's story
Junior ISA
Toyin’s Story
Additional Allowance ISA
Jeff’s Story
Ready to open an ISA?
Yearly ISA allowance allocation
Yearly ISA allowance allocation
Yes, as long as you haven’t actually paid into the ISA with the other bank, the ISA status will not activate, therefore you could still open another ISA. As soon as any money is paid into an ISA, it’s activated and you cannot pay into another ISA of the same type for that specific tax year, unless you complete an ISA transfer of all your current years funds to the new account.
If the ISA you opened is not a Cash ISA (i.e. Lifetime, Stocks and Shares or Innovative Finance), you can open a Cash ISA with us even if you've already paid money into your other ISAs. Remember, you can have several active ISAs each tax year but only one active ISA of each type.
ISA tax benefits explained
Yes, ISA savings are separate from your Personal Savings Allowance. So if you’re a basic rate taxpayer, you can additionally earn up to your £1k interest from your non-ISA savings accounts, without paying tax.
Learn more about Personal Savings Allowance here.
Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on 0800 121 8899
- Mon-Fri 8am-7pm
- Saturday 9am-2pm
- Sunday & Bank holidays Closed
Yesterday, people waited on average
17 seconds for savings enquiries
17 seconds for mortgage enquiries
Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on
0800 121 8899
Saturday
Sunday
9am - 2pm
Closed
Closed
Yesterday, people waited on average
6 seconds for savings enquiries
11 seconds for mortgage enquiries