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Benefits of having an ISA
Whatever your savings goals, having an ISA could be a good idea.
Some ISAs give you instant access to your money, offering you a more flexible way to save and plan your finances in the shorter term.
There are also Fixed Term ISAs designed to give you 1 or 2 years Fixed Interest.
If you have longer term savings goals, ISAs can help you save and invest in a tax-efficient way. Stocks and shares ISAs are supposed to be a medium to long-term investment. This means they should be held for at least five years.
Your ISA allowance applies to you as an individual. Being married or in living with your partner, for example, won’t affect your allowance.

Types of ISA
There are four types of ISAs available but not all providers will offer each one:
Cash ISAs - Simple, tax-free savings accounts.
Stocks and shares ISAs - These are classed as tax efficient investments.
Innovative finance ISA - Peer-to-peer lending investments that are classed as tax efficient investments.
Lifetime ISA - Lifetime ISAs can be classed either as tax-free savings or tax-efficient investments.
Cash ISA
Our Cash ISA is an instant access savings account with variable interest rates. This means the interest rate can go up or down. Must be 16 or over and UK resident.
Fixed Rate ISA
We offer a 1 or 2 fixed rate ISA, meaning the interest rate is fixed for whatever period you choose. You can’t pay in or take money out once the term has started. If you do, an Early Closure Charge may apply. Must be 16 and over and UK Resident. Minimum deposit required.
Paying into an ISA
Paying into an ISA is known as subscribing. You can subscribe to one of each type of ISA in a tax year, providing that you don’t subscribe more than your ISA allowance across all of them. The current tax year runs from 6th April to 5th April. Your allowance for this year is £20,000.
Although the Help to Buy: ISA is a type of cash ISA, you can pay into to a Help to Buy: ISA and a Cash ISA in the same tax year if both accounts are with NatWest. Your ISA allowance will be spread across both. With a Help to Buy: ISA, you can pay in up to £200 per calendar month.
Taking money out of our ISAs
If you have our instant access Cash ISA, you can’t withdraw money and then reinvest it in the same tax year if it means your total deposits would be more than your ISA allowance.
For example: The ISA allowance is £20,000. If you pay £16,000 into your cash ISA and take out £500, you can only save up to £19,500 by the end of the tax year.
If you have our Fixed Rate ISA, you can’t take money out during your one or two-year term. To access your money, you’d have to close your account and pay an Early Closure Charge may apply.
Make further deposits
If you have a variable rate cash ISA, you can keep paying into it for as long as you like, providing you don’t go over your yearly ISA allowance. However, if you don’t pay into it for an entire tax year, you’ll need to reactivate your account before making your next deposit.
Reactivate your Cash ISA
You can reactivate your ISA in the mobile app or online banking – just click the ‘Help’ button and ask to ‘reactivate my ISA‘ . Your ISA will be reactivated the next working day.
Transferring your ISA
You can only pay into one cash ISA per tax year. If you want to switch your ISA to another provider, there’s a process in place which safeguards your tax-free entitlement. Transfers can take up to seven working days.
Visit our ISA transfer page to find out more.
Transferring your stocks and shares ISA to a cash ISA
It can take up to 30 days to complete the transfer of a stocks and shares ISA to a cash ISA. Your stocks and shares ISA provider will sell your investments and send the cash to your new provider. Your new provider will put the cash into your account, keeping it within the ISA wrapper. Your tax-efficient entitlement will be safeguarded by the transfer process.
Visit our ISA transfer page to find out more.
Now that you're familiar with our range of ISAs and how they work, here's what you can do next.
How to start saving
Ready to start saving and take control of your financial future? Check out our guide to discover the benefits of using a savings account, how to save regularly, and how your savings can earn you interest.
Work towards your savings goals today
Got specific financial goals but don't know where to start? We're here to help. Discover the best strategies for saving towards your goals, and get tips for staying motivated along the way. Plus, explore tools and resources that could help track your progress and achieve your savings goals faster.
Discover our savings accounts
Stash the cash for your future with one of our many savings accounts. Whether you're saving for the long term, or for a certain goal, we could have an account for you.