Instant Cash ISA

Tax-free savings, with instant access to your money

Make the most of your 2019/20 ISA allowance of £20,000. If you bank with us, you could pay in or open a new ISA online in minutes.

Apply in Online Banking

If you haven’t already, you can register for Online Banking.

Already have an Instant Cash ISA? Pay into your account.

If you don't yet bank with us or prefer to talk, give us a call on 0345 744 5445 ¹ or visit your nearest branch.

Use your £20,000 ISA allowance before the tax year ends on 5 April, and you won’t get taxed on any interest you make.

Open with £1 or transfer-in an existing ISA in just 3 steps
0.40% AER/tax-free per year² variable on balances of £1 to £29,999
0.45% AER/tax-free per year² variable on balances of £30,000 to £99,999
0.55% AER/tax-free per year² variable on balances of £100,000+ and over

Summary box

Account name
Instant Cash ISA — Issue 1

What is the interest rate?
Effective from 9 October 2019


Balance	Tax-free per year %	AER %
£1+	0.40	0.40
£30,000+	0.45	0.45
£100,000+	0.55	0.55

Interest is calculated daily using your statement balance and is paid on the first working day of each month.

Can Barclays change the interest rate?

Yes, rates are variable. We can increase or decrease the interest rates for the reasons set out in our ‘Barclays and you’ booklet, which is available in branch, or you can read our Terms and conditions for Personal customers. Both also explain when we may change the interest rates, and the notice we’ll give you.

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
£1,000	£1,004.01
£30,000	£30,135.28
£100,000	£100,551.39

The estimated value is based on no change to the interest rate during 12 months and no withdrawals made.

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, the Barclays app or Telephone Banking – provided you’re registered³.

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

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.

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

The estimated value is based on no change to the interest rate during 12 months and no withdrawals made.

Why choose this account

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

Terms and conditions

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

How to apply

There are different ways to apply, depending on whether or not you bank with us.

More ways to save

If this savings account isn't what you’re looking for, we have other options for you to consider.