The Smart way to save

Interest rates

The amount of interest you earn depends on how long you put your money away for. This account doesn’t allow you to take money out during the term. You cannot make partial withdrawals from this account. You can close or transfer the full amount before the end of the term but will lose 180 days interest.

AER stands for annual equivalent rate. It shows how much the interest rate would be if the interest was worked out once a year. You can use it to compare different financial products.

Eligibility

You can open an account if:

• You're 16 or over
• You have a National Insurance number
• You're resident in the UK. You’ll also need to provide proof of your identity and address. If you’re not a UK, EU, EEA or Swiss national you’ll need a valid visa/residence permit. Here’s a list of what you need.

Annual tax free allowance and interest

You can only subscribe to one cash ISA in a tax year. The amount you can save into an ISA in the 2017/18 tax year is £20,000. Interest on your ISA will be paid annually on or around 5th April.

When your ISA matures

Your ISA matures when the period of time you’ve chosen to save for – 1, 2, 3 or 5 years – ends. We’ll contact you at least 30 days before this happens to remind you. Once your ISA matures, you can:

• Move all or some of the money into a new ISA. You can add more money up to the ISA savings limit for that year
• Close your ISA

If we don’t hear from you before the term ends, we’ll convert your account into an Instant Access Cash ISA.

Closing your account before the term ends

If you close your account or transfer the money to another provider before the term ends, you’ll lose 180 days interest.

If your account has earned less than 180 days interest, all your original deposit will be given back to you, or transferred to your new provider.

Transfers in

You can transfer money from an ISA you hold with another bank or building society to our Fixed Rate Cash ISA. And you’ll earn interest on this money before it even arrives in your account – we start paying interest from the date we receive your transfer request.

This doesn’t apply to transfers from accounts where you have to give notice that you’re taking money out. It also doesn’t apply when you’re transferring money from a stocks and shares ISA.

If you want to make a transfer in, you’ll need to do it within 30 days of opening your Fixed Rate ISA.

Get all the details to read at your leisure

Download our PDF to read when you like - it contains all the ins and outs of our Fixed Rate Cash ISA.

Fixed Rate Cash ISA Account Details (PDF)(819KB) 

Our Service Relationship with Personal Customers (PDF)(1.2MB)