More questions? Email us
You can only apply for this account over the Telephone.
To apply, call:
0845 602 2828
1 Year Fixed Rate ISA (Annual Interest)
This is a limited issue cash ISA which gives you a fixed rate of interest over an agreed term. Our current issue offers a fixed rate of 2.50% tax free/AER for 1 year.
Benefits
- You know exactly the rate of interest your investment will earn – 2.50% tax free/AER
- You can invest your money tax free with no risk.
- You can invest from £500 up to a maximum of £3,600, or £5,100 for customers aged 50 and over in the current tax year.
- You may transfer Cash ISA investments from the current and previous tax years into the Fixed Rate ISA.
- You're completely protected against fluctuations in interest rates for the 1 year term of your investment.
- For customers who are 50 and over in this tax year and therefore qualify to top-up their account to £5,100 you can send a cheque for the additional amount to our Corporate Centre before the end of this tax year.
| 1 Year Fixed Rate ISA (Annual Interest) | |||
|---|---|---|---|
| £500 + | Withdrawals are only allowed by post subject to a loss of 90 days interest on the amount withdrawn. | Annual Interest Rate |
|
| Interest rates effective from 29/05/2009 | |||
To apply, call 0845 602 2828
Things you need to know
- ISAs are not available to joint account holders.
- You must be aged 16 or over, a UK resident and ordinarily resident in the UK for tax purposes.
- You can only deposit up to £3,600 in one tax year in a Cash ISA. From 6 October 2009 the Cash ISA investment limit has increased to £5,100 for customers aged 50 and over before 5 April 2010.
- Please remember that favourable tax treatment for ISAs may change in the future. Your account is operated by post.
- If customers open a Cash ISA and subsequently transfer it to a Stocks & Shares ISA, they can re-invest in a Cash ISA for the current tax year as long as the total investment allowance isn't exceeded. The investment allowance is £7,200 or £10,200 for customers aged 50 and over in the current tax year.
- If the 1 Year Fixed Rate ISA is fully subscribed at the time we receive your funds (cheque or transferred funds) we will either return your application along with your cheque and any other instructions we receive, or contact you about other offers we currently have.
- Access is permitted subject to 90 days loss of interest on the amount withdrawn.
- The term of the account will run from the date of the first deposit. Interest is calculated daily and is paid at maturity.
- Each issue of this type of ISA has a limited amount of money that can be invested in it, so we urge you to invest before the issue is fully subscribed. This means once the issue is closed, you'll be unable to add to your account in either this or future tax years.
- At the end of the term we'll write to you prior to maturity, giving you options to help you decide what to do with your investment. If no instructions for re-investment are received, we'll re-invest your funds in an easy access ISA of our choice.
- You might be interested in our 1 Year Fixed Rate ISA (Monthly Interest).
Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
Tax Free means free from personal liability to Income Tax
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
Current and previous Bank of England interest rates can be found at www.bankofengland.co.uk/monetarypolicy/decisions.htm
For telephone line opening times, please read the information in our contact section. Calls may be monitored and recorded for security and training purposes. If you're calling from outside the UK, please dial +442920781145.
