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.
Flexible Cash ISA – Issue 3: To hold a flexible cash ISA, you must be 18 years old. Open from £1, or £0 for Transfers-In. You can make additional payments up to your annual allowance until 5 April 2015. Transfers-Out are allowed before the maturity date, but only in full, or you can close your account early. Closures and Transfers-Out carry a charge of 270 days’ tax-free interest based on the balance at the time. If there’s insufficient earned or accrued interest, or where you’ve chosen the monthly interest payment option, the charge will be taken from the funds in the account so you may get back less than you deposited.
Instant Cash ISA and Flexible Cash ISA are limited offers and may be withdrawn at any time.
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. Your annual ISA allowance is £11,880 in the 2014/2015 tax year. Of this, up to the first £5,940 can be saved in a cash ISA with one provider. All of your allowance or the remainder can be saved in a stocks and shares ISA. Annual limits are subject to review. The Government's favourable tax treatment of ISAs may not be maintained.
4. 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.