2 Year Fixed Rate Cash ISA

2 Year Fixed Rate Cash ISA (25.Jan.27)

4.35% AER*

Interest is calculated daily and paid on 31 December and on maturity. You can choose to have your interest added to your Fixed Rate Cash ISA or paid away to your Nominated Account.

No, the interest rate is fixed. This means that the rate of interest payable on your account will remain the same from the time you open your account until the end of the fixed rate period.

Your estimated balance would be £1,088.89 based on a deposit of £1,000 after 24 months.

This is for illustrative purposes only, does not take into account individual circumstances and makes the following assumptions:

• Your initial deposit is paid into the ISA when it is opened
• No further deposits are made
• Interest is added to your ISA

To open an account you must:

• Be 18 or over
• Have a valid National Insurance Number
• Be resident in the UK for tax purposes (for full details of who can open an ISA, visit the Government's website, www.gov.uk and type 'ISA' in the search box)
• Be the account holder (not a Power of Attorney or Third Party)
• Have a minimum deposit of £1,000

The minimum operating balance is £1,000, and the maximum balance for the account, excluding credit interest, is £1,000,000.

Please be advised the maximum aggregate balance across all accounts held is £1,000,000.

How to open the account and pay in

• You must apply for the product online via the application link
• Deposits into the Cash ISA must be from your Nominated Account by electronic payment; cheques are only accepted from an existing Cash ISA provider as part of a transfer
• If we cannot electronically verify that funds have been sent from an account in your name, they will be returned
• Each deposit into the account must be a minimum of £1,000
• You may only pay into your Fixed Rate Cash ISA in the 30 days after the account opens
• This account is only available to personal individual customers

Transferring an existing Cash ISA

• You must give us any transfer instructions when you apply for this Cash ISA (remember to check with your existing Cash ISA provider in case there are any conditions or charges to make a transfer to us)
• You can transfer in existing Cash ISA savings from the current tax year or previous tax years. Please note, current tax year savings can only be transferred to us in full (we do not accept partial transfers)
• Electronic Cash ISA transfers will be completed in 15 working days from the date we open your account
• Most Cash ISA transfers can be completed electronically, however if the transfer needs to be completed manually, we will send you a form to be completed and signed. Manual transfers will be completed in 15 working days from the date we receive your completed transfer form
• Stocks and Shares ISA transfers are not allowed

Previous years' ISA savings

You can transfer any amount of ISA savings from previous tax years. 

Current year's ISA savings

• The annual Cash ISA allowance for the tax year ending 5 April 2025 is £20,000. The actual amount you may pay into this Cash ISA depends on how much you’ve already paid into other types of ISA this tax year.
• Please note, if you want to transfer in current tax year subscriptions from another provider, you must transfer this in full (we do not accept partial transfers).

How to manage the account

Accounts are managed by Internet Banking, app or phone.

Statements are provided via Internet Banking, with the ability to download and print or the option to change to paper if required.

We do not provide Internet Banking for a Power of Attorney or Third Party.

No, we don't allow partial withdrawals.

This is not a flexible ISA. You may withdraw the whole balance by closing the account. If you decide to close the account before it matures on 25 January 2027, we make an 'early access charge' of 180 days' interest. If there isn't enough earned interest to cover the charge, then we take it from the balance in the account.

Remember, if you withdraw your savings, they'll lose their tax-free status unless you transfer them to another ISA (see below).

To transfer your ISA savings to another ISA provider

• Give transfer instructions to your new ISA provider. They'll carry out the ISA transfer for you
• Don't transfer ISA savings yourself (using a normal transfer) because the money will lose its tax-free status
• If you transfer the savings in your Fixed Rate Cash ISA before it matures, we make a charge - see above

What happens when the ISA matures

• We will contact you prior to maturity to let you know your options
• At maturity, if you don't give us any instructions, we'll automatically transfer the money in this account to our Matured Funds Access ISA. We'll send you details of the Matured Funds Access ISA when we contact you before maturity 

A 14 day cancellation period applies to this account. If you change your mind within the 14 days after we open the account for you, you may close it without charge and it will be as if you never had the ISA.

Note: as of 6 April 2024, HMRC have updated ISA regulations. Whilst these changes allow customers to subscribe to multiple Cash ISAs in the same tax year, this is optional for each ISA provider. As such, you can only pay into one Cash ISA with us in each tax year.

This is a strictly limited issue and can be withdrawn at any time. Once withdrawn, there is a limited window to make any deposits or transfers into the ISA and any funds received after this time will be returned. We will not contact you to let you know when the Fixed Rate Cash ISA is withdrawn.

'Tax-free' means you're not liable to UK Income Tax or Capital Gains Tax on the interest earned. The value of tax benefits we describe depends on individual circumstances. The tax treatment of ISAs could change in the future.