Cash ISA

Phone, post, in-branch and online - manage your NatWest Cash ISA your way

No penalties - we won't charge you for withdrawing your money. However, if you decide to make a further deposit, remember that you can only deposit a maximum of £5,100 over the entire tax year

Tax-free* interest - paid directly into your account

Fast transfers - it's quick and easy to move money between your Cash ISA and your other NatWest accounts

Set up and track your own personal savings goals - through Online Banking

Not paid money into your Cash ISA for a year?

Complete our re-activation form.
UK regulations say that we have to lock your account if you don't make any deposits for a year. This form lets you pay money into our Cash ISA again - the more you save, the higher the interest you'll earn. Simply take your completed form into your local branch or post it to: Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ.

Of course, you could simply open a new Cash ISA with us for the current tax year.

*Interest is paid tax-free which means it is exempt From UK income tax.

Earn 0.50% AER to 2.00% AER - with instant access

Save up to £5,100 in a tax year - this is the limit for tax year 2010/2011.

Transfers made easy - we make it simple to move your cash ISA or cash ISA-TESSA funds from other providers. You'll simply need to complete a ISA transfer form. Then simply take the completed ISA transfer form into your local branch.

Your existing ISA provider has a maximum of 30 days, or to the end of any required notice period, after receiving your transfer request to send your ISA monies to us. This period is specified within the ISA Regulations and Her Majesty’s Revenue & Customs (HMRC) ISA Guidance Notes for ISA Managers

If you do not currently have an ISA with us we'll open an account for you in branch, so please bring appropriate ID.

Using your Instant Access Cash ISA

• Are there any penalties?
• Can I transfer money in from more than one bank or building society?
• I have paid £1,000 of my current tax year allowance into a cash ISA with another provider. Can I open another Cash ISA with NatWest and pay in the remaining £4,100?
• Do I need to enclose a cheque for my initial deposit and who should I make it payable to?
• I have received my ISA application form, what do I put in the 'credit interest' section?
• I am registered with Online Banking, how do I check what my cash ISA limit is?

Transfer your existing cash ISAs

• How do I transfer a Cash ISA with another provider to NatWest?
• How long does it take to transfer a Cash ISA?
• I have a TESSA ISA - can I transfer this to you?
• I have a stocks and shares ISA - if I transfer this to you will I get the bonus?
• I have an old cash ISA with NatWest which I haven't used for several years. Can I transfer my cash ISA with another bank to you?
• I only want to transfer part of my cash ISA balance to NatWest - can I do this?
• What should I enter in the initial deposit section if I have already fully subscribed my tax-free allowance for the year?

Bonus offer and interest rate

• Have I qualified for the bonus?
• When is the interest paid?
• When is the bonus paid?
• I am currently qualified for the transfer in offer, can I also qualify for the max fund bonus offer?

Are there any penalties?

No. You can withdraw your money or close your account at any time. We'll simply pay interest on the daily cleared balance.

Can I transfer money in from more than one bank or building society?

Yes. Simply fill out a cash ISA transfer form for each one you want to transfer.

I have paid £1,000 of my current tax year allowance into a cash ISA with another provider. Can I open another Cash ISA with NatWest and pay in the remaining £4,100?

No, due to Cash ISA Regulations you cannot have more than one Cash ISA in a tax year.

However, you can pay the remainder of your annual allowance into your existing Cash ISA with the other provider and then transfer it over to us.

Do I need to enclose a cheque for my initial deposit and who should I make it payable to?

If you wish to make an initial deposit, please enclose a cheque with the application form and make it payable to yourself. If you do not wish to make an initial deposit you do not need to send a cheque.

I have received my ISA application form, what do I put in the 'credit interest' section?

If this section is left blank, interest will automatically be credited to your ISA. If you would like to credit another NatWest account, please specify the details in the box provided.

I am registered with Online Banking, how do I check what my cash ISA limit is?

You can check how much you can pay/have paid in to your cash ISA account on the 'View Account Details' screen.

You can access that screen by selecting your cash ISA account on the 'Accounts Summary' and then selecting the 'View Account Details' button, near the bottom of the screen.

If you have not used any of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year'.

If you have used some, but not all, of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year' and 'Deposits so far this year'.

If you have used all of your cash ISA allowance for the tax year, it will show the 'Deposits so far this year'.

How do I transfer a Cash ISA with another provider to NatWest?

Simply complete a Cash ISA Transfer Form and take this to any NatWest branch. If you do not currently have an ISA with us we'll open an account for you in branch, so please bring appropriate ID.

How long does it take to transfer a Cash ISA?

No more than 30 days. We follow the rules set down by HM Revenue and Customs

I have a TESSA ISA - can I transfer this to you?

Yes, since April 2008 these have been classed as Cash ISAs so you can transfer these to NatWest.

I have a stocks and shares ISA - if I transfer this to you will I get the bonus?

No. Stocks and shares ISAs cannot be converted to cash ISAs and so aren't included within this offer.

I have an old cash ISA with NatWest which I haven't used for several years. Can I transfer my cash ISA with another bank to you?

Yes. However you will also need to complete a reactivation form as well as the Cash ISA transfer form.

I only want to transfer part of my cash ISA balance to NatWest - can I do this?

We will accept partial transfers however you will need to check with your existing ISA provider as their terms and conditions may not allow partial transfers.

What should I enter in the initial deposit section if I have already fully subscribed my tax-free allowance for the year?

Please key in £1 initial deposit, select payment method cheque/cash and click that you do not wish to make regular savings. This will allow you to move forward through the screens. By enclosing the transfer form with your application we will be aware that you do not wish to deposit £1 therefore you will not be oversubscribing to your ISA.

Have I qualified for the bonus?

Transfer in bonus - For customers who applied to transfer in funds from another cash ISA provider (excludes transfers within the RBS Group) between 01 February 2010 and 30 April 2010 will have qualified for the fixed rate bonus of 0.5% gross p.a. for 12 months.

The bonus will be applied to your account from the date we received your Cash ISA transfer request form (and guaranteed for 12 months from when we received your transferred funds).
This offer is not available to customers in conjunction with any other Cash ISA offer.

OR

Max fund bonus - For customers who saved their full 2010/2011 cash ISA allowance (£5,100) by 30 April 2010 will receive a fixed rate bonus of 0.5% gross p.a. for 12 months, starting from 1 May 2010.
This offer is not available to customers in conjunction with any other Cash ISA offer.

When is the interest paid?

We calculate interest on the daily cleared balance in your account. We pay your interest on the last working day of every month.

When is the bonus paid?

Transfer in bonus - The bonus rate is applied from the date of receipt of the transfer form and will accrue 12 months from the date of receipt of the transferred funds. We pay your bonus monthly - on the same day we pay your interest.

For example, if your cash ISA transfer request reaches us on 15 February 2010, the bonus will be applied to your account on 15 February 2010, and when we receive the transferred funds in your Cash ISA account, i.e. on 15 March 2010 the bonus period will expire on the 12th month anniversary of receipt of the transferred funds, i.e. 15 March 2011.

If you make any withdrawals during the 12 month period, the 0.5% gross p.a. bonus interest will be applied to your reduced balance.

Max fund bonus - Bonus interest is payable in one lump sum on 31 May 2011.

If you make any withdrawals during the 12 month period, the 0.5% gross bonus interest will be applied to your reduced balance.

I am currently qualified for the transfer in offer, can I also qualify for the max fund bonus offer?

No. You can only qualify for one offer (either the transfer in offer or the max fund bonus offer)

This page provides the current interest rates that apply to this account. We have a separate page for previous savings interest rates

Full copies of the fees and rates, and terms and conditions that apply to our personal accounts can be downloaded from our terms and conditions

Last updated on: 4 Sep 2009.

Including 0.5% bonus (for customers who applied to transfer in funds between 01 February 2010 to 30 April 2010 OR for customers who saved their full 2010/2011 cash ISA allowance (£5,100) by 30 April 2010)

Last updated on: 2 Feb 2010.

Including 0.75% bonus (For ISA transfers requested 18 Sep to 9 Nov 2008)*

Interest paid monthly.
Interest is paid tax free and is paid monthly to the account.


Last updated on: 4 Sep 2009.

Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates what the interest would be if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.

Gross Rate. This means the interest rate you are paid before the deduction of income tax.

Net Rate. This means the interest rate you are paid after the deduction of income tax.

You can download terms and conditions for NatWest current accounts and savings accounts and information on fees and charges as PDFs.

We sometimes allow savings accounts to be operated in a way which enables the customer to give instructions for a withdrawal or other payment which cannot be met from the funds in the account. If this happens, we may apply charges to the account. Please read our leaflet Personal and Private Banking - A Guide to Fees and Interest which contains details of these charges.

NatWest Personal and Private Banking - Terms and Conditions (PDF File 330KB)

NatWest Personal and Private Banking - A Guide to Fees and Interest (PDF File 225KB)

You may need Adobe Reader to view some of these documents. Get Adobe Reader. Visit access.adobe.com.