Cash ISAs explained

A Cash ISA is a type of savings account that lets you earn tax-free interest on the money you save.  
You can only pay into to one Cash ISA with us using your ISA allowance per tax year. 

ISA allowance

The total annual ISA allowance is £20,000 for the 2024/25 tax year.    
If the ISA you are saving with is “flexible”, you can withdraw money, then put it back within the same tax year, without affecting your allowance.   

ISA transfers

If you transfer money from a previous tax year’s ISA to your current ISA, it won’t count towards your allowance.

Withdrawing money

A Cash ISA can have rules on how often you can make withdrawals: 
Unlimited access – withdraw as many times as you like. 
Limited access – you can withdraw a set number of times during the term.   
No access – you can’t withdraw any money during the ISA term. 

Apply for a Cash ISA

To get a Cash ISA with YBS, you’ll need to meet the eligibility criteria. For example: 
You’ll need to be aged 18 or over.
You must be a UK resident for tax purposes. Crown employees, or those married or in a civil partnership with a Crown employee, may also qualify. 
Your Cash ISA must be held in your name only. 
You can apply online through the YBS website, in a branch, or by calling 0345 1200 200*. After your Cash ISA is set up, you can manage it online. 

What is a Fixed Rate Cash ISA?

A Fixed Rate Cash ISA has an interest rate which won’t change during the term of the account, as long as the terms of the account are met.

What is a Variable Rate Cash ISA?

A Variable Rate Cash ISA has an interest rate which can go up or down. 

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Your eligible deposits with Yorkshire Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.