Instant Cash ISA

Tax-free savings, with instant access to your money

Bank with us? You could open an ISA online in minutes.

You can take advantage of tax-free savings1 of up to £20,000 in the 2017/2018 tax year – and have access to your money whenever you want2.

  • Open with £1 or transfer-in an existing ISA in just 3 steps
  • 0.40% AER/tax-free per year1 variable on balances of £1 to £14,999
  • 0.50% AER/tax-free per year1 variable on balances of £15,000 to £29,999
  • 0.60% AER/tax-free per year1 variable on balances of £30,000 and over

Summary box

Account name
Instant Cash ISA — Issue 1

What is the interest rate?
Effective from 1 December 2016.

Balance

Tax-free per year %

AER %

£1+

0.40

0.40

£15,000+

0.50

0.50

£30,000+

0.60

0.60

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+

£1,004.01

£15,000+

£15,075.17

£30,000+

£30,180.50

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, Barclays Mobile Banking 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
  • Have a National Insurance number

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 a stocks and shares ISA and/or an innovative finance ISA, 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

Terms and conditions

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

Why choose this account?

  • You can access your money via Online Banking, the Barclays Mobile Banking app, Telephone Banking or by visiting in branch
  • Open with £1 (£0 for transfers-in)
  • Transfer-in an existing ISA in just 3 steps

How to apply

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

Register for Online Banking

Get quick and convenient access to your accounts.

Our Instant Cash ISA can help you manage your money

The Fairbanking Foundation have given our Instant Cash ISA a 4-star rating, which means it could improve your financial wellbeing. It helps you:

  • Work out how much you can afford to save 
  • Set up personalised savings goals 
  • Find out how much you’ll need to save, and for how long
  • Set up regular payments to your savings
  • See how your savings are progressing – and how close you are to your savings goal

More ways to save

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

2-Year Flexible Cash ISA

Tax-free savings with some access

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 2017/2018 tax year2.

Help to Buy: ISA

Help with saving towards your first home

Take advantage of tax-free5 savings and, when you buy your first home, you'll get a 25% government bonus on amounts saved between £1,600 and £12,000.

Instant-access savings

You could make your money grow through our current range of savings accounts

Start savings with as little as £1 through our range of instant-access savings accounts.