Cash ISA
Giving you tax-free* saving
- From the 6th April 2011 you can now save more with the new higher Cash ISA allowance of up to £5,340.
- Minimum deposit £1 – maximum deposit £5,340 per tax year†
- No tax on your interest
- Saving for the long term – risk free
- Make withdrawals** at anytime, subject to a minimum of £10
- All returns from your ISA will be free of both Income and Capital Gains Tax. This is based on current ISA rules. These rules are subject to change
- Money isn't the only thing that you'll be saving - we are the only UK high street bank with a customer-led Ethical Policy.
- View our current interest rates.
You can have access to your money at any time by the following methods:
- online transfer
- electronic transfer over phone
- cheque by telephone banking
- over the counter.
- Standing order
- Direct transfer from another Co-operative Bank account or another bank account.
- At any Co-operative Bank branch.
- By sending a cheque through the post.
- By cheque at any Post Office™ branch.
- The minimum amount needed to open a Cash ISA is £1 and you can make further deposits at any time.
- You can pay up to £5,340 into a Cash ISA in any tax year. You can withdraw as much of the balance of your ISA as you like without any interest penalties. If you take money out, you can’t replace it. Once you’ve paid in your allowance for the tax year, you can’t pay in any more money until the next tax year, regardless of any withdrawals.
If you currently already have a cash ISA with another bank, you can still transfer it to us. Find out more about transferring your ISA with the Building Societies Association's ISA transfer guide. (opens as PDF in a new window - 0.4MB)
Important information for non-UK mainland residents
Further information
Please read...
(These will open in new windows)
- Terms and conditions (PDF)
- Key features (PDF - 0.1Mb)
- Summary box (PDF - 0.1Mb)
- A guide to savings rates and charges (PDF - 0.2Mb)
The Co-operative Bank is a member of the Financial Services Compensation Scheme (FSCS), which would pay compensation to eligible customers in the unlikely event of the Bank becoming insolvent. Find out more.
Gross rate means the contractual rate of interest paid before deduction of income tax at the rate specified by law.
Net is the rate of interest that would be payable after allowing for the deduction of income tax at the rate specified by law.
AER means the Annual Equivalent Rate and illustrates the contractual rate of interest as if paid and compounded each year.
*Provided you stay within HM Revenue & Customs guidelines.
†From 6 April 2011 to 5 April 2012.
Remember, you can subscribe to a Co-operative Bank Cash ISA so long as you have not subscribed to another Cash ISA with another provider in the current tax year. To find out how you can make the most of your tax-efficient savings, you need to make sure you understand ISAs.
Interest is applied annually on 5th April. Any rate change will be effected within 1 month of the Bank of England Base Rate changing.
**Once you have reached the tax year subscription limit, you may make no further deposits in that tax year regardless of any withdrawals.
Any reference to tax is based on our understanding of current legislation, which is subject to change and depends on your individual financial circumstances.
