Cash ISA

Cash ISAs are still one of the most popular options for tax- free savings, and the maximum tax free contribution level for this tax year is now £20,000. We offer a number of different Cash ISA plans, so that you can choose the one that best suits you.

Base Rate Tracker ISA (up to 0.35% Gross / AER)

    Interest rates viewable here.

    • The account pays an interest rate which tracks the Bank of England base rate. The rate depends on the amount invested; see rate sheet for details.
    • Minimum balance £1
    • Deposits can be added at any time, by post, standing order or your own internet banking
    • Transfers in from existing ISAs welcome
    • Withdrawals of up to £3,000 allowed in any 35 day period. Withdrawals above this amount require 35 days’ notice
    • Interest is calculated daily from the date of receipt of your deposit, and added to account on 5 April each year

    How to Apply

    If you are opening a new ISA and also want to transfer an ISA to Kingdom Bank, please complete section 4 of the ISA application form, with the required details. If you have more than one ISA to transfer to Kingdom Bank, then print out and complete an ‘ISA transfer’ form for each additional ISA being transferred. On receipt of the completed form(s) we will contact your ISA provider to arrange the transfer and will let you know when it is completed.

    Summary box for the

    Base Rate Tracker ISA (up to 0.35% Gross / AER)

    What is the interest rate?

    The interest rate is linked to Bank of England Base Rate (‘Base’) as follows:

    • Base plus 0.25% for balances £9,000+;
    • Base for balances of £2,500+ and
    • Base minus 0.25% for balances of £1-£2,500.

    Changes to the rates will become effective on the working day following the announcement of a change in the Base Rate and will be notified in accordance with the General Terms and Conditions. Interest accrues on the daily balance at the rate notified to you from time to time. Interest is compounded to the account on 5th April each year.

    Can Kingdom Bank change the interest rate?


    As this account pays a variable rate of interest it can change over time. Changes to the rates will become effective on the working day following the announcement of a change in the Base Rate.

    What would the estimated balance be after 12 months?

    If you deposit £1000.00 when you open the account, the balance after 12 months will be £1,000.00.

    If you deposit £2,500.00 when you open the account, the balance after 12 months will be £2,502.50.

    If you deposit £9,000.00 when you open the account, the balance after 12 months will be £9,031.50.

    This assumes:

    • You don’t withdraw any money and interest is paid into this account.
    • The interest rate stays the same.
    • You don’t add any more money.

    How do I open and manage my account?


    You must be 16 or over, resident in the UK for tax purposes and have a national insurance number.

    You can only open this account in your sole name.

    You must open the account with at least £1.

    No account can be opened until a correctly completed, signed and dated application form is received in the post together with our other standard Account opening forms and our performing all preliminary identification and other checks to our satisfaction.

    You can transfer an ISA you have with us or another bank. Call us to find out how to transfer an ISA.

    If you have already saved into another cash ISA this tax year, you will need to do an ISA transfer and move over the money you saved in this tax year. This includes cash ISAs with us or another bank.


    Deposits can be added at any time, by post, standing order or your own internet banking.

    Information can be requested on the phone but all instructions should be sent to us in the post.

    As with all ISAs, there are some rules:

    • You may not deposit more than the maximum allowed in any tax year, the current limit for the 2020/2021 tax year is £20,000.00.
    • You can only save into one cash ISA in a tax year, unless you do an ISA transfer. This includes Help to Buy ISAs and cash ISAs with other banks.
    • If you change your mind, you can advise us in writing and we will cancel the account free of charge within 14 days of opening.

    Can I withdraw money?


    You can make withdrawals from this account. One withdrawal of up to £3,000.00 in any 35 days rolling period can be made without notice. Any additional withdrawals or withdrawals in excess of £3,000 will have a 35 days notice period.

    If you are unable to wait the 35 days notice period, we permit early withdrawal at our discretion and any charges on transfer before maturity or notice period served (in accordance with our terms and conditions).

    All withdrawals must be made to an account in the same name. We will not permit a withdrawal to a third party by any method.

    Additional information

    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 savings glossary.

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