Premier 2-Year Flexible Cash ISA

Tax-free savings, with some access to your money

How to apply

Earn a fixed rate on your money, and have the flexibility to access some of your savings too.

Save up to £20,000 tax-free in the 2019/2020 tax year, which ends on 5 April.

Fixed rate of 1.50% AER/tax-free¹ p.a. for 2 years
Make 3 free withdrawals, each one of up to 10% of your current balance
Open with £1 (£0 for transfers in) to £1 million
Transfer in your existing ISA for a limited period

Summary box

Account name

Premier 2-Year Flexible Cash ISA - Issue 12

What is the interest rate?

Interest rates for balances of £1+, effective from 13 February 2020.


Interest option	Monthly Gross p.a. %	End of term Gross p.a. %	AER % (All interest options)
2-Year term	1.50	1.50	1.50

Monthly and end of term interest payment options are available.²

End of term interest is compounded annually and added to the funds deposited in your ISA when it matures.

Monthly interest cannot be paid back into this ISA or directly into any other ISA or bond. It can be paid into a Barclays account in your name or held jointly with someone else, or it will be sent to you by cheque.

For terms of more than one year the actual interest that you receive at the end of the term will be higher as it includes compounding from year to year.

Can Barclays change the interest rate?

No, the interest rates are fixed for the 2-year term of the ISA.

What would the estimated balance be at the end of the term based on a £1,000 deposit?

Deposit amount	Monthly (Estimated value at the end of the term)	End of term (Estimated value at the end of the term)
£1,000	£1,030.00	£1,030.23

How do I open and manage my account?

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

You can open this ISA with £0 if it’s being funded by an ISA Transfer-In (ISA Transfer-In requests must be received within 30 calendar days from the date of account opening), otherwise the minimum deposit is £1. The maximum is £1 million.

You can access your funds and manage your account in branch, or using Online Banking, the Barclays app or Telephone Banking – provided you’re registered. Deposits up to the annual ISA subscription limit each tax year may be made throughout the term of the Flexible Cash ISA.

Eligibility

To apply for our Premier 2-Year Flexible Cash ISA, you must

Be a Premier customer aged 18 or above
Be resident in the UK for tax purposes
Open this ISA for yourself

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 any combination of permitted ISAs during the same tax year.

To apply, you must also have

An annual gross income paid into a current account with us of £75,000 or more

£100,000 or more saved or invested with us

Already have a current account with us and meet these requirements? Upgrade to a Premier Current Account now.

Can I withdraw money?

Yes, you can make 3 withdrawals during the term of the Premier 2-Year Flexible Cash ISA - Issue 12. The maximum value per withdrawal on this cash ISA is 10% of your balance at the time the withdrawal is made.

If you need to, you may close the account or transfer-out the whole balance before the maturity date. This will result in a charge equivalent to 180 days’ tax-free interest based on the current balance at the time. If there’s insufficient interest (or where you have chosen the monthly interest payment frequency option) to cover the charge, we’ll take it from your account, so you may get back less than you deposited. The charge does not apply if your account is closed during the cancellation period, or due to death or bankruptcy.

At the end of the 2-year term, the Premier 2-Year Flexible Cash ISA - Issue 12 will convert into an instant access variable rate cash ISA.