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E-Cash ISA 3

The tax free savings option

Summary box

This summary is designed to give enough information to help you easily compare the account with other savings products. It is not intended to replace any terms and conditions.

Summary box
Account name E-Cash ISA 3
What is the interest rate?

The interest rate is variable. The current rate is shown in the table below.

Balance Tax free/AER rate
£10+ 0.01%
  • Interest can be paid twice a year on 1 April and 1 October, or yearly on 1 April.
  • Interest will be paid on all funds in the account.
  • Interest can be paid to the account. Alternatively, it can be transferred to a different account with us in the same name or, providing the account balance is above £2,500, transferred to your pre-advised account.
Can Scottish Widows Bank change the interest rate?

Yes. We can move the interest rate up or down at any time. For example, if the Bank of England base rate changes, we will review our rates. The terms and conditions explain when and how we will do this.

What would the estimated balance be after 12 months based on £1,000 deposit? An illustration of the future balance is shown below.
Initial deposit Tax free/AER rate Balance at 12 months
£1,000 0.01% £1,000.10

This is an illustrative example and assumes that:

  • You don’t withdraw any money and interest isn’t paid out of the account.
  • The interest rate stays the same.
  • You make your initial deposit payment on the day you open the account.
  • You don’t make any further deposits.
How do I open and manage my account?

You can open an account by printing our online application form and posting to us.

  • Applicants must be aged 16 and over and a UK resident.
  • The minimum initial deposit is £10.
  • You can set up a direct debit to pay into the account regularly.
  • The yearly ISA allowance applies. The current ISA limit can be found at The full amount can be saved in any combination of permitted ISAs.
  • You can transfer an existing ISA to us.

You can manage the account over the telephone and online.

Can I withdraw money?
  • Yes. You can make withdrawals from the account.
  • Individual withdrawals must be at least £10.
  • Any money moved out of the account will lose its tax-free status unless it is paid back into the account before the end of the tax year. The tax-free status only applies while money is in the account. Tax treatment depends on your individual circumstances and may change in future.
Additional information
  • Accounts can only be opened in a sole name.
  • You must not pay into more than one cash ISA, or more than your yearly ISA allowance into any combination of permitted ISAs, within the same tax year.
  • If your spouse or civil partner dies, you may be entitled to an Additional Permitted Subscription (APS).
  • This is a flexible ISA, so if you make a withdrawal, you can pay that money back into the account before the end of the tax year and not limit the amount you can save in your cash ISA tax free.
  • Tax-free is where interest is exempt from income tax.
  • There is a 14-day cancellation period from the account opening date during which the account can be closed without any charge.