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Help to Buy: ISA

Earn and save towards your first home

The Yorkshire Bank instant access Help to Buy: ISA account can help you earn and save towards buying your first home. By saving monthly amounts towards a deposit, you can both give yourself the opportunity to help save towards your first home and earn tax free interest* at the same time. The government will also pay a bonus of 25% of the account balance between £1,600 and £12,000 when you purchase your first home in the UK. Terms and conditions apply.

Anyone aged 16 years or over is eligible to apply for a Help to Buy: ISA, must be resident or ordinarily resident in the United Kingdom and hold a National Insurance number (If you do not know it, you should be able to find your NI number on a payslip, form P45 or P60, a letter from the HM Revenue & Customs, a letter from the DWP, or pension order book). If you do not have a National Insurance number please call us to discuss.

Information on your Help to Buy: ISA

  • You must be a first time buyer and have never owned a property or received payment of a bonus under the Help to Buy: ISA scheme rules.
  • Accounts are limited to one per person and you must be 16 years and over.
  • The government will pay a bonus of 25% on account balances of between £1,600 and £12,000, when you purchase your first home in the UK (this must be your main residence). That’s £50 for every £200 you save.
    The bonus amount is paid directly to the conveyancer and is not released if the house purchase is not completed. The bonus is only available for house purchases under £250K (or under £450K in London). Shared ownership and joint purchases are eligible, however the scheme property price caps apply to the full sale price of the property rather than just the share initially purchased. Other government bonus terms and conditions apply. Further details are on the official Government Help to Buy website or PDF factsheet.
  • The maximum amount you can subscribe to a Help to Buy: ISA on a monthly basis is £200 per calendar month. If you miss a month you cannot make up these funds any other calendar month.
  • At account opening you can subscribe an additional £1,000 provided it is deposited within the same calendar month. This is in addition to your monthly £200.
  • There is no minimum monthly deposit. Savings of at least £1600 are required to qualify for the minimum government bonus of £400.
  • You can set up regular payments into your account online or at your local branch. Standing orders and Direct Debits for monthly subscriptions should be set for no later than 25th of the month to ensure funds are received before month end.
  • Withdrawals can be made at any branch or by writing to the Cash ISA Team at the following address:
    Cash ISA Team
    Retail Product Fulfilment
    Bering House, Mariner Court
    Clydebank Business Park
    Clydebank, G81 2NR.
  • Following closure of a Help to Buy ISA, a claim for a bonus must be made within 12 months of the account closing date as specified in the closing letter issued by us.
  • In order to apply for the government bonus; it is recommended you close your account 30 days before you expect to complete your property purchase. This means there is sufficient time for you to receive your closing statement from the bank and for the scheme administrator to process your bonus application.

Withdrawing from your ISA will reduce your balance saved and impact the bonus the government will pay.

  • Annual interest paid directly into your account. Interest is calculated on the cleared credit balance on a daily basis and is applied annually on 31st December or the first business day thereafter.
  • You cannot subscribe to a Cash ISA and a Help to Buy: ISA in the same tax year.
  • You can split your £20,000 ISA subscription allowance for 2017/2018 across a Help to Buy: ISA, stocks and shares ISA, and innovative finance ISA each tax year, providing you do not exceed the Help to Buy: ISA monthly subscription allowance.
  • The minimum you need to have saved in order for the government to pay the bonus is £1,600 and you will receive a bonus of £400. The maximum bonus payment you can receive is £3,000 (you will have to save £12,000 to receive the maximum bonus).

Summary box

Account name Help to Buy ISA
What is the interest rate?
Balance Gross Rate (%) AER (%)
£1 and over 1.50 1.50

Interest is calculated on a daily basis and is paid annually on 31st December or the first business day thereafter.

Can Yorkshire Bank change the interest rate? Yes, if we decrease your rate we will provide at least 2 months’ notice as described in Section 8. 2 of the Terms and Conditions. We may increase your rate without giving you notice.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Initial deposit at account opening Balance after 12 months
£1,000 £1,015.00

This is only an example and does not take into account your individual circumstances.

The examples assume that:

  • no further deposits or withdrawals are made;
  • any interest earned stays in the account; and
  • there is no change to interest rates and tiers.
How do I open and manage my account?

The account can be opened in branch or online, www.ybonline.co.uk or call us on 0800 587 5000. You must be aged 16 or over. You must be a first time buyer and never owned a property. The government will pay a bonus of 25% on account balances of between £1,600 and £12,000, when you purchase your first home in the UK. (That’s £50 for every £200 you save). This bonus amount is paid directly to the conveyancer and is not released if the house purchase is not completed. Only available for house purchases (Link opens in a new tab) under £250K (or under £450K in London).

The maximum amount you can subscribe to a Help to Buy: ISA on a monthly basis is £200 per calendar month. If you miss a month you cannot make up these funds any other calendar month. At account opening you can subscribe an additional £1,000 provided it is deposited within the same calendar month. This is in addition to your monthly £200.

There is no minimum monthly deposit. Savings of at least £1600 are required to qualify for the minimum government bonus of £400.

Can I withdraw money?

Funds can be withdrawn at any time, without charge: however please be aware that withdrawing funds from your ISA will mean you are not entitled to claim a bonus in respect of the withdrawn funds.

Additional Information

Tax free - interest is paid gross.

Gross rate interest is the interest payable without taking account of any tax payable.

AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.


The value of any tax benefits to you depends on your individual circumstances, the Law and Her Majesty's Revenue and Customs (HMRC) practice which are subject to change. The proceeds of an ISA are currently free from UK Income Tax and Capital Gains Tax, provided all ISA conditions are met.

Transfer an existing Help to Buy: ISA from another provider

  • Transfer an existing Help to Buy: ISA from another provider to a Yorkshire Bank Help to Buy: ISA

Further info on transferring

How to apply

Compare all our savings accounts

Apply online at the foot of this page

Online applicants must be 18 years or over.


Apply in person at any one of our branches


Apply by phone
Call us on
0800 587 5000

(Monday to Friday 8am-8pm,
Saturday 9am-5pm,
Sunday 10am-4pm)


Top-up your existing Cash ISA

Important information

Anyone aged 16 years or over is eligible to apply for a Help to Buy: ISA, must be resident or ordinarily resident in the United Kingdom and hold a National Insurance number (If you do not know it, you should be able to find your Nl number on a payslip, form P45 or P60, a letter from the HM Revenue & Customs, a letter from the DWP, or pension order book). If you do not have a National Insurance number please call us to discuss.

* Tax free means interest payable is exempt from income tax.



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