RBS launches new cash ISA

RBS (Royal Bank of Scotland) has today launched a new cash ISA, the Cash ISA Plus account.

The interest rate is 3.51% AER and the Cash ISA plus can be opened with just £1. The maximum new investment into a cash ISA in this tax year is £3,200.

Customers with an RBS Royalties Gold or Private account who open a Cash ISA Plus before 20 April 2009 will get an added bonus of 0.5% gross for 12 months.

This account is designed for new ISA customers and as such no transfers from other ISA accounts into the Cash ISA Plus can be made.

Existing customers who fully subscribe to the RBS Instant Access Cash ISA, for both the 2008/09 and 2009/10 tax years by 30 April 2009, will get an additional bonus of 1% fro 12 months on a total amount of £7,200.

Customers wishing to transfer their ISA to the RBS Instant Access Cash ISA, who do so before 20 April 2009, will earn an added 12 month interest bonus of 1%.