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Wealth 2-Year Flexible Cash ISA
Tax-free savings, with some access to your money
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 2020/2021 tax year
- Fixed rate of 0.45% 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
Wealth 2-Year Flexible Cash ISA - Issue 1
What is the interest rate?
Interest rates for balances of £1+, effective from 18 August 2020.
|
Interest option |
Monthly Tax-free% p.a. |
End of term Tax-free% p.a. |
AER % (all interest options) |
|---|---|---|---|
|
2-Year term |
0.45 |
0.45 |
0.45 |
Monthly and end-of-term interest payment options are available2.
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 to any other ISA or bond. It can be paid into an account with us in your name or held jointly with someone else, or it will be sent to you by cheque.
Can we change the interest rate?
No, the interest rates are fixed for the two-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 term) |
End of Term (Estimated value at the end of term) |
|---|---|---|
|
£1,000 |
£1,009.00 |
£1,009.02 |
How do I open and manage my account?
You can open an account through your usual contact. 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 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 Wealth 2-Year Flexible Cash ISA, you must
- Be a Wealth Management client 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 for a Wealth Current Account, you must have £500,000 or more in investable assets.
Already have a current account with us and meet these requirements? Upgrade to a Wealth Current Account now.
Can I withdraw money?
Yes, you can make 3 withdrawals during the term of the Wealth 2-Flexible Cash ISA - Issue 1. 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’ve 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 Wealth 2-Year Flexible Cash ISA - Issue 1 will convert into an instant access variable rate cash ISA.
Additional information
Tax status: tax-free. Interest is exempt from UK Income Tax provided all ISA conditions are met.
Our Wealth 2-Year Flexible Cash ISA - Issue 1 is a strictly limited offer and may be withdrawn at any time.
This account cannot be offset against a mortgage loan we have made to you.
Terms and conditions
For additional information, please download
- Our Wealth 2-Year Flexible Cash ISA - Issue 1 terms and conditions. [PDF, 371KB]
- The full product details [PDF, 192KB]
How to apply
If you’re eligible, you’ll need to have your National Insurance number to hand.
More ways to save
If our Premier Flexible Cash ISA isn't what you’re looking for, take a look at some of our other savings accounts.
Wealth 2-Year Flexible Bond
An exclusive savings bond for you as a Wealth Management client.
Earn a fixed rate on your money with the flexibility to access some of it too.
Bonds
Put your money away for a fixed rate of return. With one of our bonds, you’ll know exactly how much interest it’ll earn.
Savings accounts
You could make your money grow with our range of easy-access savings accounts.