Royal Bank UTM Maxi ISA

• Stocks & Shares (provided through a choice of Unit Trusts)
• Cash (provided through a Cash Unit Trust)

Royal Bank UTM Mini ISA

• Stocks & Shares (provided through a choice of Unit Trusts)

• The Royal Bank of Scotland Growth Fund.
• The Royal Bank of Scotland Income Fund.
• The Royal Bank of Scotland High Yield Fund.
• The Royal Bank Of Scotland Balanced Fund.
• The Royal Bank of Scotland International Growth Fund.
• The Royal Bank of Scotland Cash Fund.

• You can invest up to £7,000 in a Maxi ISA in each tax year until 5 April 2006.
• No need to declare ISAs on your tax return.
• All returns in the hands of the investor are free of Capital Gains Tax or Income Tax.
• Cash withdrawals can be made from any ISA product without loss of tax relief.  Please note that withdrawals cannot be re-invested.
• The capital of a matured TESSA can be invested into the Cash component of a Maxi ISA without affecting your annual subscription limit.

A CAT mark is not a guarantee of investment performance or suitability. Not all ISAs will be CAT-marked, nor is it compulsory for them to be so. The range of RBSUTM ISAs is available on a non-CAT standard basis.

Savings in a Royal Bank of Scotland Instant Access ISA or 60 day ISA allows you to earn interest at competitive rates - tax free.  Both ISAs pay interest annually and allow you easy access to your money, without the loss of tax benefits.  You can add to your ISA whenever you want and, with tiered interest rates, the more you save the more interest you earn.

The Instant Access ISA lets you take out your money whenever you need it and the 60 Day ISA requires 60 days notice for a withdrawal, or you can access your funds immediately, but this will carry a charge equivalent to 60 days' interest on the amount withdrawn.  The 60 Day ISA isn't CAT marked, simply because it requires 60 days' notice to withdraw funds.

You can open either ISA with as little as £1.  Because of their tax advantages, there is a limit on how much you can deposit during any tax year.  Up until 5 April 2006 this is £3,000.  And once you have deposited the maximum allowed, you won't be able to make any more deposits in that tax year, even if you have made withdrawals.

The TESSA only ISA allows you to deposit the capital from your matured TESSA within 6 months of your TESSA maturing. No further deposits can be made to your account after the initial deposit has been made, however you can build up the account with the interest it earns and you have immediate access to your funds without any loss of interest.

The Instant Access ISA and the TESSA only ISA are CAT marked, which means that there are no charges under the ISA, you have easy access to your money when required and there are no unfair conditions hidden in the small print.  In addition, the interest rate on the account is guaranteed not to be lower than 2% below Base Rate, with any increases required as a result of changes in Base Rate being made within one calendar month.  

It is important that you seek the advice of a Royal Bank of Scotland Financial Planning Manager before deciding which type of equity ISA would be most appropriate to your present and future savings needs.

There are two types of ISA – minis and maxis. With a mini ISA, you can opt for just one of these components, though you can take out up to three mini ISAs in any tax year – one for each element. All of these could be held with different ISA providers.