Savings

What's the last date I can apply for a 2022/2023 AA ISA?

We'll accept applications until 9pm on Wednesday 5 April 2023 if you pay online with a debit card. This date is subject to your application being accepted and ID checks being successfully completed.

Sometimes we might need extra identification before we can accept your application. For example, if you make your first deposit by cheque or ISA transfer. You’ll have to send these documents to us by post, which we can only accept on a working day.

The latest date for us to receive your documents by post is 5 April. If we receive your documents after this date, your ISA will be opened in the new tax year instead. The last recommended date to post your documents so we get them on time is Tuesday 28 March.

Remember: The ISA allowance for the 2022/2023 tax year is £20,000 (subject to contributions into other types of ISAs). You can’t carry any unused ISA allowance forward into the new tax year.

What happens if I miss the deadline to open an AA ISA in the 2022/2023 tax year?

If you’re applying for the 2022/2023 tax year but miss the deadline, we’ll open your AA ISA in the new tax year instead. This means your deposit will count towards the 2023/2024 ISA allowance.

When we confirm your AA ISA application, we’ll let you know which tax year your ISA has been opened in.

You can cancel your AA ISA within 14 days of opening the account, and any deposit won’t count towards your ISA allowance. For more information, see the cancellation section in the Key Information Pack (which includes the Key Features and terms and conditions).

What's the last date to pay into my AA ISA for the 2022/2023 tax year?

We'll accept debit card payments online until 9pm on Wednesday 5 April 2023.

If you want to make a payment by cheque or an ISA transfer, you'll need to send this payment to us by post, which we can only accept on a working day. If we receive your payment after 5 April, we'll open your ISA in the new tax year instead. The last recommended date to post your payment so we get it on time is Tuesday 28 March.

Remember: The ISA allowance for the 2022/2023 tax year is £20,000 (subject to contributions into other types of ISAs). You can't carry any unused ISA allowance forward into the new tax year.

¹ Easy Saver and Member Saver

Interest is calculated daily and paid annually on the anniversary of account opening.

² Easy Access product and Member Easy Access product

Interest is calculated daily and paid annually in March.

³ Fixed Rate product

Interest is calculated daily and paid on the anniversary of product opening. At the end of the fixed term the value of the Fixed Rate, along with any interest earned, will be paid into the Holding Account of the AA ISA, where it will earn a variable rate of interest.

* AA Member

An AA Member is a customer that has arranged breakdown cover directly with the AA and not as part of a bank or vehicle manufacturer partnership program.

AER

AER stands for Annual Equivalent Rate, and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross rate

Gross rate means that we'll not deduct tax automatically from your interest. You're responsible for paying any tax due to HM Revenue and Customs.

Tax free

Tax free means the interest paid is free from UK Income Tax and Capital Gains Tax. The tax advantages of ISAs depend on your individual circumstances and the tax treatment of ISAs may change in the future.

Linked Account

A Linked Account is a UK bank or building society current account in your name(s) that we link to your savings account. All deposits must be made from this account, and all withdrawals will be sent back to it.

Nominated Accounts

A Nominated Account is a current account that we link to your savings account so that you can make payments out of your AA ISA safely and securely. If you make a withdrawal, or close your AA ISA, your money will be sent to this account. It must be a UK personal bank or building society account in your name(s) that accepts Direct Credits.