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cash isa: Tax-Efficient savings

Make the most of your annual ISA tax-free allowance.

 

Eligibility criteria: You'll need to be 18 or older and have a Coutts Current Account. You can only subscribe to one Cash ISA with Coutts in any tax year up to £20,000. 

Why choose our Cash ISA?

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  • Save up to £20,000 in the 2025/26 tax year and pay no tax on any interest earned 
  • Keep instant access to your funds
  • Withdraw and deposit your savings without affecting your annual ISA allowance
  • Transfer any existing Cash ISAs you have with other providers to Coutts to make it easier to manage all of your savings
  • Available for UK residents and in sterling only
  • You can only subscribe to one Cash ISA with Coutts in any tax year up to £20,000
  • Discover our full range of ISAs available

cash ISA: Summary Box

What is the interest rate?

Balance
AER P.A. (VARIABLE) 
Tax Free P.A. (VARIABLE)
£1+
3.75%
3.70%
  • Interest is calculated daily and paid quarterly
  • Rate effective from 4 April 2025
  • Interest rate is variable. This means that we can change the interest rate

can coutts change the interest rate?

Yes, we may change the rate up or down. There could be a few reasons for this, such as changes to the Bank of England base rate, or to reflect changes in the costs we reasonably incur for providing your account. 

If the rate goes down, we will give you at least 14 days’ notice.

What would the estimated balance be after 12 months, based on a £10,000 deposit?

This assumes that:

  • no further deposits or withdrawals are made
  • any interest earned stays in the account
  • there is no change to interest rates and tiers.
Deposit Amount 
Balance after 12 months
£10,000
£10,375.17

Definitions

Annual Equivalent Rate (AER)

 

This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate

The interest rate without the deduction of income tax (where applicable). Interest will be paid gross.
PA

Per annum (per year)

 

How do I open and manage my account?

  • This account is only available to you if you hold a Coutts Current Account. Tax-free interest will be earnt on deposits up to £20,000 in the current tax year with a £1 minimum balance
  • You can open your account online or by contacting your private banker
  • You can manage your account by contacting your private banker or by using our digital services
  • You can only subscribe to one Cash ISA with Coutts in any tax year up to £20,000

Can I withdraw money?

  • Yes, you may withdraw money by transfer to your Coutts Current Account. No notice is required
  •  There is no limit on withdrawals

The Coutts Cash ISA is a Flexible ISA. Flexible ISAs allow you to withdraw and replace money in an ISA without the replacement counting towards your annual ISA allowance so long as the replacement is made into the same ISA the withdrawal was made from.

However, replacement money must be paid back into the same ISA on or before 5 April of the tax year during which it was withdrawn. If the replacement is paid in after 5 April, it will count towards the allowance for that tax year.

additional information

The Coutts Cash ISA is a tax-free savings account.

'Tax-free' means that interest payable on Cash ISAs is exempt from UK income tax, as long as the ISA conditions are met. The tax treatment may be subject to change in the future and depends on your individual circumstances.

If you are unsure of your tax obligations, we strongly recommend you obtain independent tax advice.

Frequently Asked Questions

  • What is an ISA?

    An Individual Savings Account (ISA) is an account offered to UK residents that lets you save or invest money tax-free. Each year, you get a set amount you can contribute (currently £20,000*) and won't be taxed on interest, dividends, or capital gains. This makes ISAs a great way to maximize your returns.

    *In addition to the £20,000 ISA allowance, you can also contribute up to £9,000 per year into a Junior ISA for a child.

  • What are the different types of ISA?

    There are four main types of ISA:

    • Stocks and Shares ISAs: for investing in the stock market
    • Cash ISAs: for easy access savings with a competitive interest rate
    • Innovative Finance ISAs: for lending money to businesses or individuals
    • Lifetime ISAs: a special type of ISA designed to help first-time buyers get onto the property ladder or save for retirement.

    Coutts currently offers the Cash ISA and the Stocks and Shares ISA (including the Junior Stocks and Shares ISA).

  • Can I have a Cash ISA and a Stocks and Shares ISA?

    You can split your ISA allowance across the four different types of ISAs to suit your savings goals.

  • Can I hold multiple Cash ISAs?

    From 6 April 2024, the rules around ISAs changed so you can hold multiple ISAs of the same kind, including Cash ISAs, with different providers in one tax year. However, you can still only hold one Lifetime ISA per tax year. And it’s your responsibility to make sure you don’t exceed the overall £20,000 annual ISA allowance.

    You can only subscribe to one Cash ISA with Coutts in any tax year up to £20,000.

  • Can I transfer a Stocks and Shares ISA to a Cash ISA?

    Moving your ISA is easy and can be done at any time. Whether you want to switch to a different provider or transfer your savings to a different ISA type, such as a Cash ISA from a Stocks and Shares ISA, you have the flexibility to make the switch.

    There's just one thing to keep in mind: if you're transferring money you contributed to your ISA during the current tax year, you'll need to transfer the entire amount. For contributions from previous tax years, you have the option to move all or just a portion of your savings.

    Restriction: You can transfer cash from your Innovative Finance ISA to another provider - but you may not be able to transfer other investments from it.

important documents

Before you apply, please read the important legal documents below as well as our Privacy Notice, which explains how your information might be used.

If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.

ready to apply?

Next Steps:

1. Login to our digital services
2. Navigate to 'More' and 'Apply for new products'
3. Select the right account for you and confirm your application details online

 

Apply Now

not a coutts client?

If you're not already a Coutts client talk to us about how you can ake tadvantage of our wealth management expertise.

Get in touch online or call Coutts 24 on +44 (0)20 7753 1365

Financial Services Compensation Scheme

Your eligible cash deposits held with Coutts & Co are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered. Investment business undertaken with Coutts & Co in the UK may be covered by the FSCS, the cover depending on the nature of the claim being made. Eligible claims for most types of investment business are covered up to a maximum of £85,000 per person. FSCS cover is not available for loss of money resulting from performance of the investment.

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