Instant ISA

An Instant Access Cash ISA (Individual Savings Account) allows annual sums to be saved where the interest is paid free of tax. There is no guarantee that the Government will maintain favourable tax treatment.



Summary Box

Key Product Information

What is the interest rate ?

  • £1+        0.60% AER

  • Interest is calculated on a daily basis and will be credited to the account annually on 31st December. Alternatively, interest can be transferred into another Bath Building Society account, or paid by faster payment into a nominated account if preferred.

Can Bath Building Society change the interest rate?

  • The interest rate is variable, which means we may change it to respond to changes in the Bank of England base rate or changes in law, to meet relevant regulatory requirements, or to respond to changes to codes of practice or changes in our costs.

  • We will give you 30 days’ notice in writing before any reduction to the rate is applied.

  • Full details of the reasons why we may change your interest rate can be found in the General Terms and Conditions leaflet, under Section 7.

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

  • Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,006.

  • This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • You must be 16 years old and resident in the UK or a Crown Employee serving overseas, or married to, or a civil partner of such a person.

  • Investments must be in a sole name only.

  • To open an account, simply complete an application form, available from any Branch, Agency Office, or by contacting our Customer Service department. Alternatively, this can be downloaded  from our website.

  • Minimum opening and operating balance £1. 

  • Customers are only allowed to pay in up to the maximum annual allowance each year. The overall ISA subscription limit for 2020-2021 is £20,000. Subscriptions can be split in any proportion between Cash and Stocks and Shares ISAs, but a saver can only pay into a maximum of one Cash ISA and one Stocks and Shares ISA each year.

  • A passbook is issued with this account.

  • Transfers in of ISA funds are permitted.

  • It is also possible to view all the accounts you hold with Bath Building Society by registering through our website

Can I withdraw money?

  • Funds are avaliable on request and without penalty

  • Withdrawals can be made direct to a designated UK bank account, which has been set up in the same name as the Bath Building Society account, by next day faster payment.

  • This account is not a “flexible” ISA, and therefore withdrawals have no effect on the subscription limit. Once this limit has been reached for the tax year you cannot make any further investments in that year regardless of any withdrawals made.

  • You can transfer out previous years' subscriptions in full or part to another ISA provider. You will need to fill out an application form with them. They will then communicate with us to arrange the transfer.

  • Maximum cash withdrawal on demand £500 per day.

  • Withdrawals by cheque can also be requested in any of our Branches or Agencies.

  • Signed requests should be posted to the Society's Head Office, alternatively, we will accept instructions from a prenominated email address.

Additional Information

  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheets.

  • This account is a limited issue and can be withdrawn without notice.

  • This account is a savings account and must not be used for multiple monthly transactions like a current account. It isn't a Payment Account for the purposes of the Payment Services Regulations 2017

  • Please note, that on death of an investor, beneficial ownership can be transferred to the spouse/civil partner under the additional permitted subscriptions scheme.

  • Under the additonal permitted subscriptions scheme, when one of our existing customers who holds an ISA dies, their spouse or civil partner can apply to use the deceased's APS allowance. Full details can be obtained from our Customer Support Department.

  • This is a summary of the key features of the account. You should read both the Savings Accounts and General Terms and Conditions leaflets to ensure you fully understand how your account works.


Version: May 2020


Further Information