AER: Stands for the Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year.
Gross: The interest rate you are paid without the deduction of UK income tax.
p.a.: per annum (per year)
ISA stands for Individual Savings Account where you don't pay tax on any interest you earn
Yes, these rates are variable. If the rates are going down and your balance is £100 or more, we'll give you at least 14 days' notice. If the rates are going down and your balance is less than £100, we'll inform you before the change or shortly afterwards. If the rates are going up, we'll inform you before the change or shortly afterwards. For more information please see the Your Savings Account Terms (PDF, 342 KB)
You must be aged 16 years, resident in the UK for tax purposes, and already have a current account with us, or apply for a current account with us at the same time.
You can open and manage your account on our mobile app, online or by telephone.
To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself. You'll of course be able to phone us too if you need help managing your account. You can also pay money into your account at one of our cash deposit machine
There is no minimum deposit required to open the account, no minimum deposit needs to be made on a regular basis, and there is no maximum balance limit.
However, there is a limit on the amount you can pay into your account each tax year (6 April to 5 April). This annual limit, also known as your ISA allowance, is set by the Government and may change from time to time. For tax year 2021/2022 it is £20,000.
If you pay in more than the limit any excess money will be returned to you.
If you make a payment for a tax year into your Cash ISA, you can’t make any payments for that tax year into any other cash ISA except for an Ulster Bank Help to Buy ISA.
You can make payments to a Help to Buy ISA in the same tax year as an Ulster Bank Cash ISA provided that:
You can transfer all or part of any ISA held with another provider to us.
Yes. No notice is required.
You can withdraw money:
If you make a withdrawal, you will not be able to deposit more money into your account if it means you will exceed the annual limit.
You can transfer your ISA (or part of it) to another ISA manager.
Please note there are daily limits on the amount that can be transferred from your account online, through telephone or mobile banking.
Information on the current daily limits is available on our website or by contacting Anytime Telephone Banking.
You can transfer funds from an ISA with another provider by completing our Cash ISA transfer form, or if you bank online you can use the paperless transfer request, remember it can take up to 7 days to complete your ISA transfer request.
Banking My Way is a free service that allows you to record information about the support or adjustments you need to make banking easier. You can also let us know any additional support you may need to ensure all of our colleagues are aware of this. The information will be shared on our internal systems and therefore you will not need to repeat these requirements every time you interact with us.
Once your account is open, you can record this through Anytime Banking or with our colleagues in branches or over the phone.
Your eligible deposits held by a UK establishment of Ulster Bank 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.
See FSCS Protecting Your Money (PDF, 3.7 MB) for more information about the scheme and how it protects your money.
Before you apply we need to check you're happy with a few things and ask you a few questions up front, then we can make your application as quick and simple as it can be.
Once your account is open we'll provide your statements within Anytime Banking
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. And happy to view your statements in Anytime Banking - not posted. Please take some time to review, print and/or save the important information.