1. Instant Cash ISA – Issue 1 is a cash ISA. Open from £1, or £0 for Transfers-In. Applicants must be 16 years old or over. Applicants must be resident in the UK for tax purposes. If you intend to subscribe to this cash ISA, 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. Rates are variable. Interest is paid monthly on the first working day of the month. We may withdraw the availability of Instant Cash ISA – Issue 1 at any time without notice. This would only apply to new accounts opened from that time.
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 £11,520 in the 2013/2014 tax year. Of this, up to the first £5,760 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. This would only apply to new accounts opened from that time.
7. 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.