Instant Cash ISA

If you have an adult cash ISA with us, it will change into this account at the end of its term if you don't give us other instructions.

Who this account is for

  • If you have an adult cash ISA with us, it will change into this account at the end of its term if you don't give us other instructions. We will contact you before this happens to let you know your options.
  • This account is not available to any other customers. See our available accounts.
  • If you are no longer a UK resident you will not be able to add more money to this account.

The benefits

  • Earn up to 1.90% AER/tax free variable interest. The rate depends on your balance. See summary box for details.
  • This is a flexible ISA which means you can withdraw money and put it back in without counting towards your annual ISA limit.
  • Save and withdraw your money when you like.

How it works

  • If you let your cash ISA change into this account, your sort code and account number will stay the same.
  • You can pay up to £20,000 into a combination of permitted ISAs this tax year. Read more about ISA limits.
  • Bear in mind, there are other options for renewing your account. It's important to review your savings options.

Summary box for the Instant Cash ISA

  • 1.40% AER/tax free on balances from £1 - £24,999.

    1.45% AER/tax free on balances from £25,000 - £99,999. 

    1.90% AER/tax free on balances of £100,000 or more.

    The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same.

     

  • Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our terms and conditions PDF, 69KB) explain when and how we do this. For example we might review the interest rate if the Bank of England base rate changes.

     

  • For example, if you deposit £1,000.00 when you open the account, the balance after 12 months will be £1014.00.

    If you deposit £25,000.00 when you open the account, the balance after 12 months will be £25362.50.

    If you deposit £100,000.00 when you open the account, the balance after 12 months will be £101900.00.

    This assumes:

    • the interest rate stays the same for 12 months
    • you make your deposit on the day you open the account and you don't add more money after that
    • you don’t withdraw any money or interest.

     

  • How the account is opened

    If you have a 1 Year Fixed Rate Cash ISA, 2 Year Fixed Rate Cash ISA, Club Lloyds Advantage ISA Saver or a Cash ISA Saver, it will change into this account at the end of its term if you don't give us other instructions. We will contact you before this happens to let you know your options.This account is not available to any other customers.

    Your sort code and account number will stay the same.

    Managing the account

    This account can be managed:

    • online
    • on our app
    • in branch
    • by phone.

    Account limits

    You can only pay into one cash ISA in a tax year, unless you're going to complete an ISA transfer. This includes Help to Buy: ISAs and cash ISAs with other banks. If your cash ISA changes to an Instant Cash ISA, it counts as the same cash ISA because the sort code and account number stay the same.

    You can pay up to £20,000 into a combination of permitted ISAs this tax year. Read more about ISA limits.

    Cash ISAs cannot be joint accounts.

     

  • You can withdraw money from this account and there are no charges for doing so.

    This is a flexible ISA which means you can withdraw money and put it back in without counting towards your annual ISA limit.

    Any money you move into an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in the future.

    You can close your account at any time.

     

  • Savings terms explained

    Tax free means you will not pay income tax on your interest.

    AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

    For more definitions, view our glossary.

Not the right ISA for you?

This account is only for customers that have a 1 Year Fixed Rate Cash ISA, 2 Year Fixed Rate Cash ISA, Club Lloyds Advantage ISA Saver or a Cash ISA Saver that is coming to the end of its term.

Financial Services Compensation Scheme

Eligible deposits held with us are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.

FSCS logo