Direct ISA

Essentials at a glance

What's the interest rate?

0.10% tax-free/AER, variable

Can you take money out?

Yes: no notice and no penalty

Will you pay tax?

No: this account is totally tax-free

What's the min. to pay in?

£1

What's the max. to pay in?

£20,000 in the 2021/22 tax year

Great for you if …

• You want to make the most of tax-free saving
• You want to use your ISA online or by phone
• You haven't invested in a cash ISA in the 2021/22 tax year

Maybe not for you if …

• You want to invest your full allowance in a stocks and shares ISA or an innovative finance ISA
• You want to manage your account by post
• You want to transfer in ISA investments from another provider
• You want a flexible ISA

Direct ISA FAQs

• Can I apply for someone else?

  Yes. You can apply on behalf of someone else under a Power of Attorney or Court of Protection Order.

  If you've already registered your authority with us and registered for our online service, you can apply for an account online. Just click the ‘Apply now’ button to get started.

  If you haven’t, you'll need to:

  • Register your authority with us first (see our guide below to find out how)
  • Register for the online service
  • Then you can log in and apply for an account online

  Or you can apply by post using the application form below and register your authority at the same time by enclosing the original Power of Attorney or confirmation of your appointment as a Deputy, or a certified copy (see our guide below).

  Our guide to acting on behalf of someone else

  Direct ISA Power of Attorney application form

• What is an inherited allowance ISA?

  You can now inherit an additional ISA allowance if your spouse or civil partner dies, up to the value of their ISA at the date of death. If your spouse or civil partner died on or after 3 December 2014, you are entitled to this new allowance. If you are eligible and want to use your inherited allowance with NS&I, find out more by downloading the literature below.

  Direct ISA inherited allowance account - your questions answered

  Direct ISA inherited allowance account - summary box

  Direct ISA inherited allowance account - key features

  Direct ISA inherited allowance account application form

  Direct ISA inherited allowance account application form for an attorney, receiver or deputy

  Direct ISA inherited allowance account Additional Permitted Subscription (APS) transfer authority form

• How do I take money out?

  You can:

  Log in

  Call us

  Find out how long it takes to receive your payment

• Can I move money from another NS&I account to a Direct ISA?

  Yes! Just fill out a quick online form and we’ll get it sorted for you. Be sure to have the details of the account you want to switch from to hand.

  Switch to a Direct ISA
  

  Only use if switching from another NS&I account or Investment

  Prefer the post?

  It will take a bit longer, but you can still download and send us a paper form in the post.

  Forms for our accounts

• Can I transfer my NS&I ISA balance to another provider?

  Yes, you can. There’s no need to contact us, as the provider you’re transferring to will request your money from us directly.