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Instant Cash ISA – Issue 1

Tax-free savings, with instant access to your money 1

You can take advantage of tax-free savings 1 of up to £15,240 in the 2016/2017 tax year and have access to your money whenever you want 2.

  • 0.40% AER/tax-free pa 1 variable on balances of £1 to £14,999

    0.50% AER/tax-free pa 1 variable on balances of £15,000 to £29,999

    0.60% AER/tax-free pa 1 variable on balances of £30,000 and over
  • Instant access to your money – through online, mobile and telephone banking or in branch 3
  • Open with £1 (£0 for transfers-in)
  • Transfer-in an existing ISA in just 3 steps

Summary box

Account name

Instant Cash ISA – Issue 1

What is the interest rate?

Effective from 1 December 2016.

Balance

Tax-free pa %

AER %

£1+

0.40

0.40

£15,000+

0.50

0.50

£30,000+

0.60

0.60

Balance

£1+

Tax-free pa %

0.40

AER %

0.40

Balance

£15,000+

Tax-free pa %

0.50

AER %

0.50

Balance

£30,000+

Tax-free pa %

0.60

AER %

0.60

Interest is paid monthly, on the first working day of the month.

Can Barclays change the interest rate?

Yes, these rates are variable.

What would the estimated balance be after 12 months based on a £1,000 deposit and deposits for each tier of interest?

Deposit amount

Estimated value after a year

£1+

£1,004.01

£15,000+

£1,005.01

£30,000+

£1,006.02

Deposit amount

£1+

Estimated value after a year

£1,004.01

Deposit amount

£15,000+

Estimated value after a year

£1,005.01

Deposit amount

£30,000+

Estimated value after a year

£1,006.02

How do I open and manage my account?

You can open an account online, in branch or over the phone. Please see the 'How to apply' section below for more details.

You can manage your account in branch, or using Online Banking, Barclays Mobile Banking or Telephone Banking – provided you're registered.

The minimum opening balance allowed is £0 if the Instant Cash ISA – Issue 1 is being funded by an ISA transfer-in, otherwise the minimum deposit is £1.

Eligibility

To apply for our Instant Cash ISA – Issue 1, you must:

  • Be aged 16 or above
  • Be resident in the UK for tax purposes
  • Open this ISA for yourself
  • Have a National Insurance number

In order to subscribe to a cash ISA, you can't have subscribed to another cash ISA or used your total annual ISA allowance in a stocks and shares ISA and/or an innovative finance ISA, during the same tax year.

Can I withdraw money?

Yes, you'll have instant access to your money so you can make withdrawals.

Additional information

  • Money withdrawn from your Instant Cash ISA – Issue 1 and put back into the account within the same tax year doesn't count towards your annual ISA allowance
  • Transfers-in and transfers-out from and to other ISAs are allowed
  • You can offset your savings account against your mortgage – but if you do, you will not earn any interest on your savings
  • We may withdraw the availability of Instant Cash ISA – Issue 1 at any time without notice. This will only apply to new accounts opened from that time

Terms and conditions

For additional information, download our Instant Cash ISA - Issue 1 terms and conditions 1.16 MB

Why choose this account?

  • You can access your money via Online Banking, the Barclays Mobile Banking app, Telephone Banking or by visiting a branch
  • Open with £1 (£0 for transfers-in)
  • Transfer-in an existing ISA in just 3 steps

How to apply

There are different ways to apply, depending on whether you bank with us or not. You’ll need to have your National Insurance number to hand when you apply.

New to Barclays?

Apply in branch with proof of ID and address .

 

Already a customer?

Apply online, by phone or in branch.

Register for Online Banking

Call 0345 744 5445 4

More ways to save

If this Instant Cash ISA isn't what you’re looking for, we have other options for you to consider.

2 Year Flexible Cash ISA

Flexible Cash ISA

Looking for your money to earn a fixed rate, while still having access to some of your savings?

Help to Buy ISA

Help to Buy: ISA

First-time home buyers could receive a 25% government bonus on their savings in a Help to Buy: ISA.

Savings

Savings

Looking to save but with more flexibility? See our range of savings accounts.

 

Important information

1. Tax-free: indicates that interest is exempt from UK income tax provided all ISA conditions are met. The level and basis of tax can change and the value of tax relief depends on your personal circumstances. AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.

2. Your ISA allowance for the 2016/2017 tax year is £15,240. Annual allowances are subject to review and the government’s favourable treatment of ISAs may change.

3. Online, mobile and telephone banking are only available to Barclays current account holders who are registered for these services.

4. Lines are open Monday to Friday 8am-9pm, Saturday 9am-9.30pm and Sunday 8am-9pm. To maintain a quality service, we may monitor or record calls. Call charges .