Cash ISA - Savings | Ulster Bank

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Cash ISA

Save without paying tax on the interest you earn

Apply online

ISA stands for Individual Savings Account where you don't pay tax on any interest you earn

What is an ISA?

ISA stands for Individual Savings Accounts where you don't pay tax on any interest you earn. With an Ulster Bank Cash ISA you can:

Start small and open an account with as little as £1. Save up to £15,240 for the 2016/17 tax year

Manage your account online, or in the branch.

The need to knows
 
  • Save the way you want - either as a lump sum, as a standing order 
  • Start small and open an account with as little as £1 
  • Save up to £15,240 for the 2016/17 tax year
  • Manage your account online, or in the branch.
  • You can only pay into (subscribe to) one cash ISA in any tax year
  • Transfers in allowed, bring all your ISAs together to one place.
  • If you have a Cash ISA Plus or Cash ISA Tessa Funds account, you can convert your account to our Cash ISA account by completing our Cash ISA conversion form
  • You can change your provider during the year by switching. Find out more about transferring your ISA to Ulster Bank 
  • Terms and conditions apply

Current rates (variable) effective until 20th December 2016

Balance 


Tax Free  / AER

£1 - £24,999 0.50%
£25,000+ 1.00%

 

Rates effective from 21st December 2016

Balance 


Tax Free  / AER

£1 - £24,999 0.05%
£25,000+ 0.50%
 
  • Earn interest daily and receive it tax- free into your account annually on the last business day in October 
  • Tax-Free interest means that interest payable is exempt from UK income tax.
  • Annual Equivalent Rate (AER) is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.

Cash ISAs - How do they work?

Why save with a Cash ISA?
 
  • You don't pay tax on any interest you earn but remember you can only pay into (subscribe to) one Cash ISA in any tax year. 
  • The government sets a limit on how much you can subscribe in every tax year (from 6 April to 5 April in the following year).
  • The overall ISA allowance for the 2016/17 tax year which commenced on 6 April 2016 will be £15,240. Subscriptions can be split into any proportion between a cash and stocks and shares ISA as the saver chooses up to the overall ISA allowance limit of £15,240
 

Some other need to knows

  • If you have paid into a cash or stocks and shares ISA since 6 April 2016, you will not be able to open a further ISA of the same type before 6 April 2017. 
  • You may however make additional payments - up to the ISA subscription limit of £15,240 for the 2016/2017 tax year - into your existing account(s), or by transferring those account(s) to another provider that will allow additional amounts to be added.
  • Tax reliefs referred to are those applying under current legislation which may change. The favourable tax treatment for ISAs may not be maintained. The availability and value of the reliefs will depend on your individual circumstances.
  • If you already have an Ulster Bank Cash ISA and haven’t paid money in for a whole tax year you’ll need to complete a re-activation form (PDF) before you can pay money in again. Please take your completed form to your local branch.
Add your signposting title here… Common questions about ISAs

Bring all your ISAs together to one place

You can transfer funds from an ISA with another provider by completing our Cash ISA transfer form, or if you bank online you can use the paperless transfer request, remember it can take up to 15 days to complete your ISA transfer request.

 

Find out more
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Your eligible deposits with Ulster Bank Limited are protected up to a total of £75,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Please click here (84 KB PDF) for further information or visit www.fscs.org.uk.

Find out more about how to apply

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Select Apply Now from the Next Steps section below.

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To apply call us on 0800 046 6486

Lines are open: Monday to Friday 8.30am-8pm.

(Except bank holidays)

Calls may be recorded. Calls from mobile phones may not be free.

Account queries

Please contact our telephone banking service on : 0345 742 4365

(+442890 538 033 if calling from abroad).

Calls cost up to 10p per minute plus up to 16p connection charge from BT lines. Calls from other networks may vary. Calls may be recorded

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Visit any branch of Ulster Bank to apply.

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