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The rate on this product will decrease from 3.25% to 3.10% (Tax-free^ each year/AER†) on 05/12/2024. You may want to consider this before applying.

Branch Instant Access Cash ISA

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Is this account right for me?

The rate on this product will decrease from 3.25% to 3.10% (Tax-free^ each year/AER†) on 05/12/2024. You may want to consider this before applying.

There are a few reasons why an ISA could suit you. Save up to £20,000 this tax year without paying tax on your interest. This account is... 

For the ones who
  • Want a tax-efficient savings option
  • Want a variable interest rate
  • Want to make unlimited withdrawals
  • Want to transfer money in from another ISA
Not for the ones who
  • Want the certainty of a fixed rate

Summary box

This summary contains key information about our Branch Instant Access Cash ISA. You should read it carefully before applying.

3.25% Tax-free^ each year / AER† (Variable) 
 
Interest is calculated each day on the money in the account and paid on 6 April every year. 

Yes, variable interest rates can go up or down. If you have £100 or more in the account, we will give notice of any reduction in interest rates at least 14 days before the change takes effect. 

For more information on changes to interest rates, see the section Changes to interest rates in our Savings Terms and Conditions. 

£1,032.50 
 
This is based on: 

  • No further money being put in or taken out of the account. 
  • No change to the interest rate. 

This calculation is for guidance only, to show you what a future balance could look like. It does not consider your individual circumstances. 

  • You must be a UK resident and satisfy the minimum age requirements to open a cash ISA (see your Branch Instant Access Cash ISA account terms). 
  • You can open your ISA in branch or at an agency. 
  • You must keep at least £1 (the minimum balance) in the account. 
  • You cannot pay in more than the ISA Allowance each tax year. The ISA Allowance for the current tax year (2024/2025) is £20,000. You can only pay your ISA Allowance into one Principality cash ISA in the current tax year. 
  • You can transfer unlimited amounts from ISAs from previous tax years, as these are not part of your current year's ISA Allowance. 
  • You must make the first payment into your ISA within five business days of it opening. If you don’t, we may close the account. 
  • You can manage the account in branch, at an agency, by post or by using a secure online profile with Principality.  

 

Yes, you can make a withdrawal or close your ISA at any time. 

This is a flexible ISA. This means you’ll be able to take money out of it and replace that money before the end of the same tax year, without the replacement contributing to your annual ISA Allowance. 

Service charges and costs may apply to the account. These are set out in our Tariff of Charges. 

In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions. 

The tax treatment of your savings depends on your individual circumstances and may change in the future. This is set by HM Revenue and Customs (HMRC). Further information can be found at gov.uk.

The interest rates quoted above were correct on 12/09/2024. 

Downloadable documents

Please take some time to review this important information. We recommend you download these and keep copies somewhere safe; you may choose to print them.

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Start saving today

Let's get you saving. You need to visit a branch to apply for this account:

  • Book an appointment or pop in
  • Chat with us and open your account
  • Start saving


Book an appointment

Additional information

*Gross interest is the rate of interest before income tax is deducted at the rate set by law.
†AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
^Tax-free means the interest you earn isn't subject to UK Income Tax and Capital Gains Tax. Tax treatment depends on your individual circumstances and could change in future.