What’s an Annual Allowance ISA and how can it help you save?
Our Annual Allowance ISA offers a simple way to make the most of your tax-free savings, while giving you the flexibility to access your money if you need to.
With the current ISA allowance set at £20,000, it’s an opportunity to set money aside in a tax-efficient wrapper to make your savings work harder over time.
This account offers a variable rate of 3.85% tax-free/AER which includes a 1.65% bonus until 7 June 2027.
The bonus is designed to reward those who are able to keep their savings in place. If your money remains in the account until 7 June 2027, you’ll benefit from the full rate. If you choose to withdraw funds before then, the bonus won’t apply to the amount you take out.
The underlying rate, without the bonus, is 2.20% tax-free/AER.
A straightforward way to save
The Annual Allowance ISA is designed to be easy to manage and understand, you can:
- Save up to your £20,000 ISA allowance for the current tax year
- Access your money at any time, if your circumstances change (bonus conditions apply)
- Interest is calculated daily and paid annually on 7 June
Whether you’re building up your savings gradually or making a lump sum deposit, this account gives you a clear and flexible way to do so.
Things to keep in mind
- ISA transfers into this account aren’t available.
- The interest rate is variable and may change over time.
Making your savings count
Using your ISA allowance each year can make a real difference over time. Our Annual Allowance ISA is designed to help you do just that, with a straightforward approach, flexible access, and an added reward for keeping your savings in place.
For more detailed information on our Annual Allowance ISA, please click here.
