Tiered Variable Rate Cash ISA

Easy access to your money and interest rates that are tiered, depending on your balance, so you get a higher rate the more you save.

  Interest Rate Balance Tax-free^ p.a. AER†
Annual Interest £1 - £10,999.99 0.90% 0.90%
Annual Interest £11,000 - £18,999.99 1.05% 1.05%
Annual Interest £19,000 and over 1.20% 1.20%
  • Apply in branch, agency or by post
  • Save from £1 to £20,000
  • Interest is calculated on your daily balance and paid annually on 6th April
  • Enjoy the benefits of a flexible ISA
  • Additional deposits permitted
  • Closure permitted
  • Limited availability
Summary box
  Summary Box
Account Name Tiered Variable Rate Cash ISA
What is the interest rate? £1 - £10,999.99 - 0.90% Tax-free^ p.a./AER (variable)

£11,000 - £18,999.99 - 1.05% Tax-free^ p.a./AER (variable)

£19,000 and over - 1.20% Tax-free^ p.a./AER (variable)

Interest is calculated on your daily balance and paid annually on 6th April every year (or the next business day).
Can Principality change the interest rate? 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 our Savings Terms and Conditions.

Interest is calculated on the daily balance, at the rate of interest that applies to the relevant tier your balance falls in when that day’s interest is accrued.
What would the estimated balance be after 12 months based on a £1,000, £11,000 and £19,000 deposit? £1,000 would be £1,009.00

£11,000 would be £11,115.50

£19,000 would be £19,228.00

(Based on the assumption that no further deposits or withdrawals are made during the 12 months).
How do I open and manage my account?
  • You must be aged 16 or over, a UK resident for tax purposes and an individual applicant to open and operate this account.
  • Open your account in branch or agency.
  • The minimum balance is £1 and you can save up to the current annual Cash ISA limit of £20,000 in the tax year 2019/20 beginning on 6th April 2019. You need to keep the minimum balance in your account for it to remain open.
  • Transfers-In of previous years' ISA subscriptions are not permitted.
  • Manage your account in branch, agency, online or by post.
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. 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.
  • Please note that if you make a withdrawal that reduces your balance to a lower interest tier we will not notify you of this.
Additional Information
  • Service charges and costs may apply to your account. These are outlined in our Tariff of Charges.
  • In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined in the Savings Terms and Conditions.
  • Rates correct as at 06/04/19.
Calculate your savings

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Before you apply below, please read the Fixed Rate Tiered Variable Rate Cash ISA Terms & Conditions

You can only invest in one Cash ISA per tax year.

As you will be bound by the account terms and your information is held in accordance with our privacy policy, you should read, print and save the below documents for your records. If you have any queries relating to them please contact us for further information.

Please also read the following:

^ Tax-free means the interest you earn is exempt from UK Income Tax and Capital Gains Tax. Tax treatment depends on your individual circumstances and may not be maintained in future.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year.

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