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Instant ISA - Issue 3

The Instant ISA - Issue 3 account can be opened in branch or by post.

Save for a rainy day, tax-free with access to your money whenever you need it.

Key features

  • This is a Flexible Cash ISA
  • Save some or all of your annual ISA allowance in this account
  • Pays a variable** rate of interest
  • Interest is paid tax-free†
  • Unlimited withdrawals,subject to daily withdrawal limits , but closure will result in loss of tax-free status
  • Choose to have your interest paid monthly or annually
  • Register to view and manage your account online


tax-free † p.a./AER* variable**

Summary Box

Account Name Instant ISA - Issue 3
What is the interest rate?

Current rates - Effective 16 August 2016

This product pays a variable** rate of interest of:


Tax-free† p.a. AER*
0.25% 0.25%


Tax-free† p.a. AER*
0.25% 0.25%

Whether you need to pay tax is dependent on your own personal circumstances and so may be subject to change in the future.

† Tax-free means that Interest is not subject to income tax.

* AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

** Variable rate of interest means that the interest rate payable on your account can change and can move both up and down.


Payment of interest

  • Interest is calculated daily on cleared balances
  • Annual interest is paid on 31 March. It can be paid into the Instant ISA - Issue 3 account, another Yorkshire Building Society account or another building society or bank account
  • Monthly interest is paid on the last day of each month. It must be paid into another Yorkshire Building Society account or another building society or bank account.

Can Yorkshire Building Society change the interest rate?

We can make changes to the interest rate on this account for particular reasons. General Terms and Conditions (390 KB) 7 and 8 set out those reasons. Term 11 tells you how we will notify you of the changes.

What would be the estimated balance after 12 months based on a £1,000 deposit?

After 12 months your balance would be £1,002.50.

We have worked this out assuming a £1,000 deposit is made on account opening, no further deposits or withdrawals are made throughout the 12 months, the interest earned is added to the account and no changes made to the current interest rate.

This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

You have to be at least 16 years old. You must be a UK resident for tax purposes, or be a qualifying Crown employee or married to, or in a civil partnership with a qualified Crown employee. The account can only be held in your name. You may only subscribe to one cash ISA in a single tax year.

Account opening and management
Accounts can be opened with a minimum of £10 in the following ways:

  • In a branch or at an agency
  • By calling 0345 1200 200 to request an application pack to be sent to you.

The account can be managed in branch, at an agency, by post or online.

The maximum balance is £20,000 for 2017/18 ISA allowance plus previous years’ ISA transfers. Please check with your existing provider if any charges are applicable on transfer.

Deposits for the current tax year’s ISA allowance can be made at any time. External transfers for any used ISA allowances, including both previous years’ and current years’ subscriptions are permitted.


Transferring your ISA

You can transfer some or all of your money saved in previous tax years into a Cash ISA and/or Stocks & Shares ISA and/or Innovative Finance ISA and/or Lifetime ISA without affecting your annual allowance, subject to the product terms of your account. During the 2017/18 tax year only, those who already have a Help to Buy: ISA and held money in that account before 6 April 2017 will be able to transfer this money into a Lifetime ISA without affecting the Lifetime ISA annual contribution limit of £4,000.

You can also transfer money saved in a Cash ISA for the current tax year into a different ISA with the same or a different provider, although you can only hold one of each type of ISA for each tax year. You must transfer the whole amount saved in the current tax year. During the 2017/18 tax year only, money paid into a Help to Buy: ISA on or after 6 April 2017 can be transferred into a Lifetime ISA and will count against the annual contribution limit of £4,000. Transfer charges may apply, please check with your existing provider. Do not transfer any ISA balance yourself otherwise you’ll lose your tax benefits.

Can I withdraw money?

The Instant ISA - Issue 3 account allows instant withdrawals (minimum £10) subject to daily withdrawal limits , without loss of interest.

Flexibility means that savings withdrawn from this Cash ISA can be replaced in the same tax year without counting towards your annual ISA allowance. Please note that the tax year runs from 6 April to 5 April the following year.

Please be aware if a withdrawal is made from the account by CHAPS a charge of £23.50 will be incurred. Proof of name ID will be required.

Additional Information

Interest earned from your ISA is tax-free and does not contribute to your Personal Savings Allowance.

If you fail to invest in your Cash ISA in a single year, under HM Revenue and Customs rules you will be required to complete a declaration form before you can invest further.

Your account is passbook based. You should try and have your passbook updated at least once a year.


How to apply

This ISA can be opened in branch or by post. Once your account is open, it can be managed online, in branch, in an agency or by post.

When you apply for an account with us, we’ll need to verify your identity and address .

Please note: You will need your National Insurance number when applying.

Book an appointment

To visit us in branch or request a phone call, enter a town, city or postcode and select a branch of your choice.

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Call us

Speak to one of our friendly advisers and we will send you an application pack in the post.

8am - 8pm: Mon to Fri

9am - 1pm: Sat

0345 1200 100*

By post

We will send you what you need in the post to get you started.

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Book a savings review

To ensure that you have the right account for whatever you're saving for, why not visit us in branch for a savings review? Book an appointment at one of our branches.

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