1. For cash ISAs, applicants must be resident in the UK for tax purposes. ISA rules may change. You must not have subscribed to another cash ISA or used your total annual ISA allowance in a stocks and shares ISA during the same tax year. Tax-free means interest is exempt from UK Income Tax, providing all ISA conditions are met.
Instant Cash ISA – Issue 1: To hold a cash ISA, you must be aged 16 years or over. Open from £1, or £0 for Transfers-In.
2 Year Flexible Cash ISA – Issue 4: To hold a flexible cash ISA, you must be 18 years old or over. You can make a maximum of 3 withdrawals, of up to 10% of the balance each time. You can transfer money in from another ISA within 30 days of opening your new ISA, and make additional payments up to your annual allowance until 5 April 2015.
You may transfer your balance to another ISA or withdraw your full balance and close your account before the end of the term, however in both cases you will be charged 180 days’ tax-free interest (based on your balance at the time). If you have not accrued enough interest to cover this charge, it will be deducted from your balance – so you may end up with less than you originally deposited. These charges won’t apply if you are within your 14-day cooling-off period or in cases of death and bankruptcy.
Instant Cash ISA – Issue 1 and Flexible Cash ISA – Issue 4 are limited offers that may be withdrawn at any time. Terms and conditions apply.
To hold an investment ISA, you must be aged 18 years or older and be resident in the UK for tax purposes.
2. AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. 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.
3. On 1 July 2014, the 2014/2015 ISA allowance increased to £15,000. You can use your £15,000 allowance (less any of your allowance already used this tax year), all in a cash ISA, all in an investment ISA (also know as stocks and shares ISA) or in a combination of both. Annual allowances are subject to review and the government’s favourable tax treatment of ISAs may change in future.
4. Rates shown for end of term option. Gross is the rate of interest payable before income tax is deducted at the basic rate. Interest is payable gross to UK non-taxpayers subject to the required certification. AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.
5. Until 1 January 2016, the interest rate on Children’s Instant Saver Issue 1 will be a ‘Barclays tracker rate’, and after that date, it will convert to a ‘Barclays managed rate’. Until 1 January 2016, the gross interest rate pa will track at a margin of 1% above the Bank of England Bank Rate. Any changes in the Bank Rate (either up or down) will be passed on no later than 30 days after the Bank of England announcement. Condition 13 of the Retail Customer Agreement explains what we mean by ‘Barclays tracker rate’ and ‘Barclays managed rate’, and how changes can be made to those rates. In addition, the interest rate on Children’s Instant Saver Issue 1 will never fall below 1.50% gross pa (1.51% AER).
6. We may withdraw or change the bonus offer at any time without notice. Bonus is payable for 12 months from the date of the account opening with a minimum balance of £1 after which time the rate will reduce accordingly.
7. Limited offer that can be withdrawn at any time. Rates are fixed for the term of the bond, but the amount of interest you receive will depend on the number and value of the withdrawals you make. If your Flexible Bond has tiered interest rates, then withdrawals may take you into a lower tier. Available to UK residents aged 18 years or over.