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Savings & Investments
1 Year Fixed Rate ISA (Issue 35)
If you’re looking for the security of a fixed tax free interest rate, our 1 Year Fixed Rate ISA (Issue 35) could be for you.
Please note: this fixed rate account is a limited issue and may be withdrawn without notice.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | 1 Year Fixed Rate ISA (Issue 35) |
| Interest Rates (AERs) | 2.50% Tax-free§ p.a./AER† (Fixed). |
| Tax Status | This is a tax-free account so interest payable is exempt from income tax. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Withdrawals/transfers can be made of up to 25% of your capital investment without notice or loss of interest prior to maturity (31 May 2013). If you exceed this limit, the account will be subject to 90 days loss of interest or an equivalent amount on the amount withdrawn/transferred. |
| Access | Account can be opened through any of our branches, via our website or by post, and can be operated through any of our branches or by post. |
Rates correct as at 15 May 2012
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £1 and the maximum investment is £5,640 in 2012/13 tax year plus previous years' subscriptions, whether held with the Society or another ISA provider.
When is interest paid?
Interest is paid on maturity (31 May 2013).
How is interest paid?
Annual interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society.
Transfers
To transfer all or part of your existing ISA from another ISA manager, simply complete the ISA Transfer Request Form and Cash ISA Application Form (if required) and we'll do the rest. If you wish to transfer all or part of your cash ISA to another ISA manager prior to the maturity date, you will need to contact your new ISA manager and complete their transfer request form. However, if you withdraw more than 25% of your capital investment before maturity (31 May 2013), the account will be subject to 90 days loss of interest or an equivalent amount on the amount withdrawn. Please note HM Revenue and Customs guidelines state that an ISA transfer must be completed within 15 working days of receipt of an instruction from you. For further details, please see conditions 9 and 11 of the Product Terms and Conditions. View the ISA Transfer Guidance PDF document »
What happens to my investment at maturity?
Your 1 Year Fixed Rate ISA (Issue 35) will mature at close of business on 31 May 2013. At the end of the fixed term, subject to Government legislation, your account will remain an ISA. On the day after maturity (1 June 2013), the Society will transfer your investment (including interest) to a maturity ISA product. Full details, including terms and conditions, will be provided before maturity.
