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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.
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
- Our interest rates are reducing on 16 June 2020 – please see our tables below
Summary box
Account name
Instant Cash ISA — Issue 1
What is the interest rate?
Effective from 9 October 2019 to 15 June 2020
|
Balance |
Tax-free per year % |
AER % |
|---|---|---|
|
£1+ |
0.40 |
0.40 |
|
£30,000+ |
0.45 |
0.45 |
|
£100,000+ |
0.55 |
0.55 |
Effective from 16 June 2020
|
Balance |
Tax-free p.a.% |
AER % |
|---|---|---|
|
£1+ |
0.10 |
0.10 |
The estimated value is based on no change to the interest rate during 12 months and no withdrawals made.
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 |
Effective from 16 June 2020
|
Deposit amount |
Estimated value after a year |
|---|---|
|
£1,000 |
£1,001.00 |
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
Terms and conditions
For additional information, download our Instant Cash ISA - Issue 1 terms and conditions [PDF, 210KB]
New to Barclays?
You can apply in branch with proof of ID and your address.
Register for Online Banking
Get quick and convenient access to your accounts.
More ways to save
If this savings account isn't what you’re looking for, we have other options for you to consider.
1-Year Flexible Cash ISA
Tax-free savings, with some access to your money
Make the most of your 2019/20 ISA allowance of £20,000 and feel good about saving. If you bank with us, you could pay in to your existing ISA or open a new ISA online in minutes.
Help to Buy: ISA
Manage your savings
The Help to Buy: ISA has closed to new savers, but you can add money to one you’ve already opened until 30 November 2029. You can also take a look at the other ways we can help if you're saving to buy a home.