ISAs (Individual Saving Accounts)

ISAs offer a tax free way to invest and save money. Quickly find out what they are and how they work below, or for more information read our full ISA guide.

ISA guide

Everything you need to know about ISAs and how to make the most of your annual ISA allowance.

Read our ISA Guide

Cash ISA Saver

  • Open from just £1

  • Instant access with no charge for withdrawals

  • Balances of £1+ will receive a variable rate of 0.60% Tax free/AER (variable), which includes a fixed introductory bonus of 0.30% for 12 months from date of account opening.

Find out more

Fixed Rate Cash ISA

  • 18 month, 2 year and 3 year terms available.

  • Up to 1.00% tax free/AER (fixed) interest rate (for a 3 Year Fixed Rate Cash ISA).

  • Minimum opening balance of £3,000.

  • Interest paid from £1.

  • Withdrawal charges apply.

Find out more

Junior Cash ISA

  • For children under the age of 18

  • 3.25% Tax free/AER variable

  • Open from just £1

  • Once the child reaches 18, the account will mature into a Cash ISA Saver with bonus

Find out more

Got an ISA to transfer to us?

  • To transfer an existing ISA to TSB, you'll need to open an ISA with us and then complete and return our online ISA transfer form.
  • Once we've received this, we'll ask your existing provider to transfer the money to us.
  • We'll pay interest at your new rate from the day we receive your completed transfer application - provided your funds are free to move.
  • If there is a delay in the transfer because your existing ISA has a notice period or restriction, your current provider will let us know when it will be free to move to us and we'll pay the interest from that date.
  • Check with your current provider if there are any costs to transfer your cash ISA.
  • Cash ISAs will take no more than 15 working days to transfer.
  • Stocks and shares or innovative finance ISAs will take no more than 30 days to transfer. To transfer an innovative finance ISA you will need to pop into branch.
  • You cannot transfer a Lifetime ISA to us.
  • Remember if you withdraw money from a previous ISA with another provider, you will need to replace the withdrawn money before you transfer it to us, otherwise you will no longer be able to repay that money in to your ISA, and it won't be tax-free.
 
ISA Transfer Form

What is an ISA?

An ISA (Individual Savings Account) is a tax efficient way to save or invest. Unlike other savings accounts you don’t pay tax on money held in an ISA, regardless of your balance or how much income tax you pay.

There are different types of ISA. But at TSB we like to keep things nice and simple. That’s why we only offer Cash ISAs and Junior Cash ISAs, which are easy to manage and still let you save tax free.

Tax free means the interest paid will be free from UK Income Tax. The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.

What is the ISA allowance?

The government sets an allowance for each tax year which states the maximum you can save tax free. Each tax year runs from 6 April to 5 April the following year. The ISA allowance for the 2019/2020 tax year is £20,000 and £4,368 for Junior Cash ISAs.

Who can apply for an ISA?

You must be a UK resident and 16 years old or over to apply for a Cash ISA. Under 18s can apply for a Junior Cash ISA.

TSB Cash ISAs

Cash ISAs allow you to save tax free. They give you instant access to your savings or a fixed rate of interest over a few years. If you’re starting to think about saving, a Cash ISA could be a good place to start. TSB offers three different ISAs.

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