Skip top navigationHome
Existing Clients Savings About Us Important Information
Help
Cookies Policy
St. James's Place Bank iSaver   Cash ISA   Direct Access Savings
  Savings

How to Apply
How to
Apply

Coins

 

Cash ISA

0.40% tax-free/AER variable. From 6th April 2017 you can save up to £20,000 for tax year 2017/2018 ***.

You can transfer existing ISAs to St. James's Place Bank.

ISA Key Facts LogoSummary box and key features: Cash ISA

The Financial Conduct Authority is the independent financial services regulator. It requires us, St. James's Place Bank, a division of Bank of Scotland plc, to give you this important information to help you to decide whether the St. James's Place Bank Cash ISA is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference.

Our Cash ISA is a tax-free variable rate savings facility offering phone and online access. From 6th April 2017 you can save up to £20,000 during tax year 2017/2018. Minimum deposit of £1.00.

We aim to give you sufficiently clear and relevant information, at the right time so that you can easily and quickly compare different savings products.

Summary Box
Account Name CASH ISA
What is the interest rate?

We pay a variable rate of interest on this ISA, as shown in the table below.

Cash ISA ANNUAL INTEREST MONTHLY INTEREST
Tax Free AER Tax Free AER
Balance £1+ 0.40% 0.40% 0.40% 0.40%
  • For the latest information about interest rates, please visit www.sjpb.co.uk/savings/products.asp
  • Interest is paid annually or monthly on the key date, which is a date that you can choose in line with the conditions. You must have the same key date for all the facilities in your St. Jamesís Place Bank account.
Can St. James's Place Bank change the interest rate? Yes. We can move the interest rate up or down at any time. For example when the Bank of England base rate changes we will review our rates. We will tell you in advance, your conditions explain when and how we will do this.
What might the future balance be?

Below is an example of what the future balance might be, after interest has been paid.

ANNUAL INTEREST MONTHLY INTEREST
Illustrative Initial Deposit Amount Tax Free Rate Illustrative balance after 12 months Tax Free Rate Illustrative balance after 12 months
£1,000 0.40% £1,004.00 0.40% £1,004.01

This example assumes that:

  • You don't withdraw any money and interest isnít paid out of the ISA.
  • The interest rate stays the same.
  • You make your initial deposit payment on the day you open the ISA and you don't make any further deposits.
How do I open and manage my account?
  • Your first account will be opened by your relationship partner.
  • You can open subsequent accounts over the phone.
  • You can open and manage your ISA by phone or online.
  • You can only open an ISA in a sole name.
  • You must be 18 or over and a UK resident for tax purposes.
  • The minimum opening deposit is £1.
  • The yearly ISA allowance applies, which means the maximum you can subscribe into a cash ISA is £20,000 for tax year 2017/2018 less any amounts invested in any combination of permitted ISAs within the same tax year. You can also transfer an existing ISA to us.
Can I withdraw money?
  • Yes. You can make withdrawals from your ISA.
  • If you choose to close the ISA and move the money to a non-ISA, the savings will lose their tax-free status. Tax treatment depends on your individual circumstances and may change in future.

Additional Information

  • Tax free is the contractual rate of interest payable where interest is exempt from income tax.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.

Tax-free is the contractual rate of interest payable where interest is exempt from income tax. Tax treatment depends on your individual circumstances and may change.
Once you have used your annual allowance for a single tax year, your limit will be exhausted, regardless of how much money you have in your Cash ISA at the time.

(AER) Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year. This allows individuals to compare more easily what return they can expect from their savings over time. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

Our Cash ISAs offer you lots of benefits, including:

  • From 6th April 2017 you can save up to £20,000 for tax year 2017/2018 ***.
  • View your balance and transfer money with our easy to use online banking service.
  • Deposit funds using your debit card, funds cleared instantly;
  • Transfer existing ISAs using our simple transfer service;
  • If you are an existing St. James's Place Bank offset mortgage client, you can offset any of your savings facilities against your mortgage;
  • You can choose either monthly or annual interest.

Do consider if:

  • You are looking for tax-free savings;
  • You are 18 years or over;
  • You want to bank online or over the phone.

Do not consider if:

  • You have already made a deposit to another Cash ISA in this tax year, unless you are transferring your ISA to St. James's Place Bank.

***There are four types of ISA: a cash ISA, a stocks and shares ISA, an innovative finance ISA and a lifetime ISA. St. Jamesís Place Bank offers a cash ISA. From April 6th 2017, each eligible client has a total ISA allowance of £20,000 for tax year 2017/2018. If you subscribe to a St. Jamesís Place Bank Cash ISA, you can not subscribe to any other cash ISA in the same tax year but you can subscribe to a stocks and shares ISA, an innovative finance ISA or a lifetime ISA. If you subscribe to ISAs held with different ISA managers you are responsible for ensuring that you do not subscribe to a disallowed combination of ISAs, and that you do not exceed the overall annual ISA investment allowance of £20,000 during tax year 2017/2018.

Terms and Conditions  |  Legal Information  |  Interest Rates and Charges  |  Accessibility  |  Contact Us  |  Company Information  |  Privacy