The Cash ISA is no longer available to new customers with effect from 5th May 2022.
We are no longer accepting new applications for our Cash ISA with effect from 5th May 2022. If you are an existing customer, the following information will apply to your existing Cash ISA with Reliance Bank:
• 0.30% AER% tax-free per year variable on balances of £1 or more
• Instant Access to your funds by i-mail or in writing
• The tax status of your ISA is not affected, and we will continue to pay you interest in line with our published rate
• You may continue to add to your existing Cash ISA within the permitted allowance for this tax year (2022/23)
• From April 2023 we will not accept deposits into the Cash ISA for tax year 2023/24 or for any future tax years.
Save with us and your money will make a positive social impact
Although our Cash ISA is no longer available you can save with us by opening a Reliance Bank Savings account – we have the following accounts available:
Instant Access Personal Savings Account: Click here
35 Day Notice Personal Savings Account: Click here
90 Day Notice Personal Savings Account: Click here
We will pay you interest when you save with us and the money you deposit with us will enable us to continue to provide loans to organisations, charities and social enterprises that deliver positive social impact in the UK.
The power to change lives for the better
We know that money has the power to change lives for the better. In the right hands, it can be a force for good. As a Bank we’ve supported businesses and charities for over 130 years and we prioritise business lending to organisations that deliver positive social impact in the UK, so you’ll be joining a group of like-minded people.
Reliance Bank are proud of its shareholder The Salvation Army International, whose mission it is to help people whose lives have been affected by emergencies, disasters, poverty and social inequality.
We are no longer accepting new applications for our Cash ISA with effect from 5th May 2022.
If you are an existing customer, the following information will apply to your existing Cash ISA with Reliance Bank:
• 0.30% AER% tax-free per year variable on balances of £1 or more
• Instant Access to your funds by i-mail or in writing
• The tax status of your ISA is not affected, and we will continue to pay you interest in line with our published rate
• You may continue to add to your existing Cash ISA within the permitted allowance for this tax year (2022/23)
• From April 2023 we will not accept deposits into the Cash ISA for tax year 2023/24 or for any future tax years.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if we as a Bank fail to meet our financial obligations. In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website for the Finanacial Services Compensation Scheme.
*AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
We are no longer accepting new applications for our Cash ISA with effect from 5th May 2022.
If you are an existing customer, the following information will apply to your existing Cash ISA with Reliance Bank:
• 0.30% AER% tax-free per year variable on balances of £1 or more
• Instant Access to your funds by i-mail or in writing
• The tax status of your ISA is not affected, and we will continue to pay you interest in line with our published rate
• You may continue to add to your existing Cash ISA within the permitted allowance for this tax year (2022/23)
• From April 2023 we will not accept deposits into the Cash ISA for tax year 2023/24 or for any future tax years.
What is the interest rate?
Can Reliance Bank change the interest rate?
What would the estimated balance be after 12 months based on a £1,000 deposit?
On a deposit of £1,000, the estimated balance would be £1,003.00. This is based on:
Can I withdraw money?
Additional information
*AER stands for annual equivalent rate. It shows how much the interest rate would be if the interest was worked out once a year. You can use it to compare different financial products.
We are no longer accepting new applications for our Cash ISA with effect from 5th May 2022.
If you are an existing customer, the following information will apply to your existing Cash ISA with Reliance Bank:
• 0.30% AER% tax-free per year variable on balances of £1 or more
• Instant Access to your funds by i-mail or in writing
• The tax status of your ISA is not affected, and we will continue to pay you interest in line with our published rate
• You may continue to add to your existing Cash ISA within the permitted allowance for this tax year (2022/23)
• From April 2023 we will not accept deposits into the Cash ISA for tax year 2023/24 or for any future tax years.
We are no longer accepting new applications for our Cash ISA with effect from 5th May 2022.
Apply
We are no longer accepting new applications for our Cash ISA with effect from 5th May 2022.
Cash ISA documents
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.