Variable Rate Cash ISA
Our Variable Rate Cash ISA may be right for you, if you would like a flexible approach to tax-free saving, allowing you to add to your ISA throughout the year, up to the annual limit and giving you easy access to your funds with no notice required.
|Interest rate||Balance||Tax-free^ p.a.||AER†|
|Variable||£1 - £15,240||0.40%||0.40%|
- Save in branch or by post
- Save from £1 to £15,240
- Transfer in your existing Cash ISA
- Interest is calculated on your daily balance and can be paid annually
- Enjoy the benefits of a flexible ISA
- No notice required
- Closure permitted
- Summary Box
- Calculate your savings
- Help & guidance
|Account Name||Variable Rate Cash ISA|
|What is the interest rate?||0.40% Tax-free^ p.a. / AER† (Variable)
(With effect from 7 March 2017 this will change to 0.20% Tax-free^ p.a. / AER† (Variable))
Interest is calculated on your daily balance and paid annually on 6 April every year (or the next business day).
|Can Principality change the interest rates?||Yes, variable account rates could increase or decrease.
Customers will be given personal notification of any material reduction in interest rates a minimum of 14 days before the change takes effect.
To understand why rates may be reduced please refer to pages 13 and 14 of the Savings Terms and Conditions.
|What would the estimated balance be after 12 months based on a £1,000 deposit?||£1,004 (based on the assumption that no further deposits or withdrawals are made during the 12 months).|
|How do I open and manage my account?||
|Can I withdraw money?||Yes, you do not have to give notice to close your account or make a withdrawal.
This is a flexible ISA Account. This means you'll be able to take money out of it and replace that money before the end of the same tax year, without the replacement contributing any further towards your annual ISA allowance.
- The results displayed were dependent on the information you provided and are for illustrative purposes only and are by no means an indication of being suitable for your individual circumstances.
- The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
- It has been assumed that no withdrawals or additional deposits would be made from the account during the saving duration, and that the interest rate also remains the same during this time (note that interest rates on variable rate savings account are subject to change, and when fixed rate deals end, there is no guarantee that the same rate will be available in the future).
Before you apply below, please read the Variable Rate Cash ISA Terms & Conditions
If you are transferring previous years' ISA subscriptions, please enter your initial deposit as £1 on the application form. The application form will ask you whether you are making a transfer later in the process.
You can only open one Cash ISA per tax year.
As you will be bound by the Account Terms of the ISA, you must read them. If you do not understand any of the terms and conditions please contact us for further information.
We recommend that you print and keep a copy of these terms and conditions for your records.
Please also read the following:
- Basic information about the protection of your eligible deposits
- Electronic Verification Guide
- Tariff of Charges
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