Making the most of your ISA
Our tax-free savings guide could help you give your savings a boost.
Annual Cash ISA allowance
The annual Cash ISA allowance for the 2024/2025 tax year is £20,000.
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Cash ISAs are a great way to save tax-free and allow you to make the most of your money.
Every tax year, the government sets a maximum amount that you can save tax free in an Individual Savings Account (ISA). This is called your ISA allowance and currently means you can save up to £20,000 each tax year without needing to pay tax on the interest you earn.
See our Cash ISAs
Our tax-free savings guide could help you give your savings a boost.
The annual Cash ISA allowance for the 2024/2025 tax year is £20,000.
| Minimum to open | Annual Interest Rate | Bonus | Withdrawal Conditions | Account Access | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 Year Fixed Rate ISA | £1 |
4.05% AER 4.05% Tax-Free i
|
No | You can take your money out but there will be a charge of 90 days’ loss of interest. |
In branch Once opened, you can manage this account in branch. Use our branch finder to find your nearest branch. Online For WeBSave accounts – once opened you can manage this account online via our WeBSave login. For all other accounts – once opened you can view this account online via our savings portal. |
1 Year Fixed Rate ISA | ||||||||||||||||||||||
| 2 Year Fixed Rate ISA | £1 |
4.05% AER 4.05% Tax-Free i
|
No | You can take your money out but there will be a charge of 150 days’ loss of interest. |
In branch Once opened, you can manage this account in branch. Use our branch finder to find your nearest branch. Online For WeBSave accounts – once opened you can manage this account online via our WeBSave login. For all other accounts – once opened you can view this account online via our savings portal. |
2 Year Fixed Rate ISA | ||||||||||||||||||||||
| Additional Permitted Subscriptions ISA | £10 |
1.50% AER 1.50% Tax-Free i
Your interest is variable and will be paid once a year, calculated to 5 April and you’ll be able to access it on 6 April. It can be added to your account or paid into another account. |
No | You can take your money out at any time. |
By post Once opened, you can manage this account by post. |
Additional Permitted Subscriptions ISA | ||||||||||||||||||||||
| Limited Access ISA (Issue 1) | £1 |
up to 2.00% AER up to 2.00% Tax-Free i
|
No | You can take your money out at any time. You'll get a lower interest rate if you take your money out more than six times. |
In branch Once opened, you can manage this account in branch. Use our branch finder to find your nearest branch. Online For WeBSave accounts – once opened you can manage this account online via our WeBSave login. For all other accounts – once opened you can view this account online via our savings portal. |
Limited Access ISA (Issue 1) | ||||||||||||||||||||||
| West Brom Saver ISA | £1 |
1.50% AER 1.50% Tax-Free i
Your interest is variable and will be paid once a year, calculated to 5 April and you’ll be able to access it on 6 April. It can be added to your account or paid into another account. |
No | You can take your money out at any time. |
In branch Once opened, you can manage this account in branch. Use our branch finder to find your nearest branch. By post Once opened, you can manage this account by post. |
West Brom Saver ISA | ||||||||||||||||||||||
Important information
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year.
Tax-free means you will not pay income tax on the interest you earn.
ISAs are a savings scheme set up by the Government and they can change the rules at any time.
Your eligible deposits are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme.
Whether you're putting money aside for the future or want to build an emergency fund, we've a few types of Cash ISAs to choose from.
It’s also worth remembering you can transfer existing ISAs you have over to us if you find an account you like.
Visit the help centre to find out more about ISAs, including transfers.
Help centreA Cash ISA (Individual Savings Account) is a type of savings account that lets you save tax-free. This means you don't pay tax on the interest you earn, so all the money you receive from your savings is yours to keep.
If you're 18 or over, you can open and pay into as many Cash ISAs as you like. There’s just a limit on how much you can save across all your ISAs each tax year.
Each tax year, you can save up to your annual ISA allowance across all your ISAs.
For the 2026/27 tax year, the annual limit is £20,000. The tax year runs from 6 April to 5 April.
This depends on the type of Cash ISA you choose. Easy access ISAs usually allow withdrawals, while fixed rate ISAs may limit access during the fixed rate term.
Yes. You can transfer your ISA between banks and building societies, also known as providers, but there are a few rules to remember.
If you want to transfer your ISA, you need to let your new ISA provider know. They’ll manage the transfer process with your old provider. You can transfer a Cash ISA to another Cash ISA or a Stocks and Shares ISA, and you can transfer a Stocks and Shares ISA into a Cash ISA.
If you want to transfer money that you’ve paid in during the current tax year, check what your new and old ISA provider will allow to be transferred. For money that you’ve paid into an ISA in previous years, you can transfer all or part of your savings. Any money transferred from your previous years ISA will not be included in the calculation of your current year tax allowance.
Always check the terms and conditions of your account to see if there are any rules or charges to transfer your ISA.
There are different types of Cash ISAs you can generally open to suit different ways of saving:
Chat to our friendly Customer Service team today.
0345 241 3785 8:30am to 6pm Monday to Friday
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You can also pop in to your local branch or book an appointment.
