Cash ISA

Why choose a NatWest Cash ISA?

Transfers made easy – we make it simple to move your cash ISA or cash ISA-TESSA funds from other providers. You’ll simply need to complete a Cash ISA transfer form (PDF, 886k). Then simply take the completed ISA transfer form into your local branch. (Please note transfers within the RBS Group are not eligible for the bonus.)

Earn 4.60% - 5.25% Gross / AER (variable) – with instant access

Save up to £3600 in a tax year - this is the limit for tax year 2008/2009, and the minimum balance is £1. The tax year runs from April 6 to April 5 the following year

Phone, post, in-branch and online - manage your NatWest Cash ISA your way

No penalties – we won't charge you for withdrawing your money. However, if you decide to make a further deposit, remember that you can only deposit a maximum of £3600 over the entire tax year

Tax-free interest – paid directly into your account

Fast transfers – it's quick and easy to move money between your Cash ISA and your other NatWest accounts

You will also need to hold or open an instant access account. We will use this account to hold your money if you accidentally put more than £3600 a year into your Cash ISA.

Not paid money into your Cash ISA for a year?

Download our re-activation form (PDF, 103k).
UK regulations say that we have to lock your account if you don’t make any deposits for a year. This form lets you pay money into our Cash ISA again – the more you save, the higher the interest you’ll earn. Simply take your completed form into your local branch.

Of course, you could simply open a new Cash ISA with us for the current tax year.

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Earn 2% extra for the first 12 months
So, you've got a cash ISA with another provider – and you're looking to earn a higher rate?

With a NatWest Cash ISA, it couldn’t be easier. Simply move your existing cash ISA to us - and we'll pay a 2% bonus during the first 12 months.

The interest rate ranges from 6.67% AER to 7.32% AER (variable), depending on how much you have in your Cash ISA.

View details of our bonus rates.

It's as easy as that - we'll even give you the paperwork you need to make the switch. Simply download the ISA transfer form (PDF, 886k) - then take the completed form into your local branch.

Transfer your existing cash ISAs

• How do I transfer a Cash ISA with another provider to NatWest?
• How long does it take to transfer a Cash ISA?
• I have a TESSA ISA – can I transfer this to you?
• I have a stocks and shares ISA – if I transfer this to you will I get the bonus?
• I have an old cash ISA with NatWest which I haven’t used for several years. Can I transfer my cash ISA with another bank to you?
• I only want to transfer part of my cash ISA balance to NatWest – can I do this?
• I have a Cash ISA that I want to transfer but I have to give 60 days notice – will I still get the bonus?

Using your Instant Access Cash ISA

• Do I need another account with NatWest?
• Are there any penalties?
• Can I transfer money in from more than one bank or building society?
• I have paid £700 of my current tax year allowance into a Cash ISA with another provider. Can I open another Cash ISA with NatWest and pay in the remaining £2,900?

Bonus offer and interest rate

• How do I qualify for the bonus?
• Do I qualify for the bonus?
• When does the bonus period start?
• When is the interest paid?
• When is the bonus paid?

How do I transfer a Cash ISA with another provider to NatWest?

Simply complete a Cash ISA Transfer Form (PDF, 886k) and talke this to any NatWest branch.

How long does it take to transfer a Cash ISA?

No more than 30 days. We follow the rules set down by HM Revenue and Customs

I have a TESSA ISA – can I transfer this to you?

Yes, since April 2008 these have been classed as Cash ISAs so you can transfer these to NatWest.

I have a stocks and shares ISA – if I transfer this to you will I get the bonus?

No. Stocks and shares ISAs cannot be converted to cash ISAs and so aren’t included within this offer.

I have an old cash ISA with NatWest which I haven’t used for several years. Can I transfer my cash ISA with another bank to you?

Yes. However you will also need to complete a reactivation form (PDF, 103k) as well as the Cash ISA transfer form (PDF, 886k).

I only want to transfer part of my cash ISA balance to NatWest – can I do this?

We will accept partial transfers however you will need to check with your existing ISA provider as their terms and conditions may not allow partial transfers.

I have a Cash ISA that I want to transfer but I have to give 60 days notice – will I still get the bonus?

Yes. The 2% bonus will be available on your NatWest Cash ISA as soon as we receive the ISA transfer form (link to form) and will remain until the twelve month anniversary of the receipt of the transferred ISA funds.

Do I need another account with NatWest?

Yes. You need to have a current account or instant access savings with us. We need this to receive any deposits which may accidentally exceed the annual ISA allowance of £3,600.

Are there any penalties?

No. You can withdraw your money or close your account at any time. We’ll simply pay interest on the daily cleared balance.

Can I transfer money in from more than one bank or building society?

Yes. Simply fill out a cash ISA transfer form for each one you want to transfer.

I have paid £700 of my current tax year allowance into a Cash ISA with another provider. Can I open another Cash ISA with NatWest and pay in the remaining £2,900?

No, due to Cash ISA Regulations you cannot have more than one Cash ISA in a tax year.

However, you can pay the remaining £2,900 of your allowance into your existing Cash ISA with the other provider and then transfer it over to us.

How do I qualify for the bonus?

Simply transfer 1 or more existing cash ISAs from 1 or more other provider(s). Transfers within the RBS Group are not eligible for the bonus.
If you transfer your Cash ISA to us, the total balance in your NatWest Cash ISA qualifies for the bonus.
If you do not make a transfer from another provider you are not eligible for the bonus, but you will still benefit from a great rate of interest from 4.60% to 5.25% AER depending on your balance.

Do I qualify for the bonus?

Yes – if you transfer an existing cash ISA from another provider to NatWest.
However, you can’t transfer cash ISAs from within the RBS Group, including The Royal Bank of Scotland and NatWest.

When does the bonus period start?

We apply the bonus from the date we receive your Cash ISA transfer form. However, the 12 month period starts when we receive the funds from your old Cash ISA provider. So you could get our bonus rate for longer than 12 months.

When is the interest paid?

We calculate interest on the daily cleared balance in your account. We pay your interest on the last working day of every month.

When is the bonus paid?

We pay your bonus monthly – on the same day we pay your interest.

This page provides the current interest rates that apply to this account. We have a separate page for previous savings interest rates.

Full copies of the fees and rates, and terms and conditions that apply to our personal accounts can be downloaded from our terms and conditions page.

How it's calculated - we apply the bonus from the date we receive your Cash ISA transfer form. However, the 12 month period starts when we receive the funds from your old Cash ISA provider. So you could get our market-leading rate for longer than 12 months.

Paying your interest and bonus - Interest is paid tax free and is paid monthly to the account. The bonus interest will be paid monthly along with the standard interest payment.

Eligible transfers - the bonus is for customers transferring in ISA funds from another provider. This excludes transfers within the RBS Group (including The Royal Bank of Scotland)

Hurry – we may withdraw this offer at any time

Including bonus

Interest paid monthly.
Bonus is for customers transferring in Cash ISA funds from another provider (excludes transfers within the RBS Group) and is calculated on the whole balance in the account for 12 months from receipt of the Cash ISA transfer request. Interest is paid tax free and is paid monthly to the account. The bonus interest will be paid monthly along with the standard interest payment.

Offer may be withdrawn at any time

Last updated on: 17 Sep 2008.

Excluding bonus

Last updated on: 1 May 2008.

Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.

Gross Rate. This means the interest rate you are paid before the deduction of income tax.

Net Rate. This means the interest rate you are paid after the deduction of income tax.

You can download terms and conditions for NatWest current accounts and savings accounts and information on fees and charges as PDFs.

We sometimes allow savings accounts to be operated in a way which enables the customer to give instructions for a withdrawal or other payment which cannot be met from the funds in the account. If this happens, we may apply charges to the account. Please read our leaflet Personal and Private Banking - A Guide to Fees and Interest which contains details of these charges.

NatWest Personal and Private Banking - Terms and Conditions (PDF File 302KB)

NatWest Personal and Private Banking - A Guide to Fees and Interest (PDF File 147KB)

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