Fixed Cash ISA
Current rates and key features
| Term | Interest rates (tax free/AER fixed) effective from 0.00am on 5th March 2012 |
|---|---|
| 1 year | 3.15% tax free/AER fixed |
| 2 year | 3.40% tax free/AER fixed |
- A choice of one or two year terms are available.
- Minimum opening deposit of £500. Interest only paid on balances over £500.
- The interest rate is fixed for one / two years on the day you open your account.
- All deposits and cash ISA transfers must be completed within 60 days of account opening.
- We'll write to let you know when your account is due to mature.
- Manage your Fixed Cash ISA online, on the phone or in branch.
- No withdrawals after account opening, early closure possible subject to charges (see summary box)
Transfer your existing cash ISA balances from this and previous tax years into a Fixed Cash ISA, using our ISA Switching service. Previous years funds won't affect this year's ISA allowance. Plus you can take advantage of our ISA Promise. Please note you must not withdraw the ISA monies yourself as you will lose all the tax benefits.
Remember, if you don't pay in all of your cash ISA allowance at account opening you will be limiting what you can save tax free in that tax year.
Apply online for a Fixed Cash ISA
Summary box
|
Account Name |
One / two year Fixed Cash ISA |
|---|---|
|
Interest rates (AERs) |
Fixed interest for the term you choose. For the one year term, interest is paid when the account matures and for the two year term it is paid one year after account opening and when the account matures. We do not pay interest for any balances below £500. At maturity the account becomes a Bank of Scotland Access Cash ISA, paying variable interest. |
|
Tax status |
Interest is paid tax free. |
|
Conditions for bonus payments |
Not applicable. |
|
Withdrawal arrangements |
No withdrawals allowed but can be closed early or transferred to another ISA subject to loss of tax free interest. This could mean that you get back less than the original amount deposited. Loss of interest is as follows: 1 year term – 90 days 2 year term – 180 days |
|
Access |
Online, phone and branch |
Apply online for a Fixed Cash ISA
Additional information
- Interest rate is fixed. Paid on maturity of the 1 year term, and at the end of the first year and on maturity on the 2 year term. Interest is paid into your ISA. This will not count towards your annual allowance
- Number of accounts - you can only fund one cash ISA during any one tax year. If you already have a cash ISA with another provider and want to take advantage of our cash ISA interest rate, ask to transfer your cash ISA today
- Maturity of term - we will write to you before your maturity date to keep you informed
- Eligibility - UK resident, personal customers only aged 16+. If you are a non-UK resident and wish to find out about the savings products that may be available to you, please call the International Banking team on 0800 876 6555 (or +44 207 451 6212 if calling from abroad). Lines are open Mon-Fri 8am - 6pm and Sat 9:30am - 1.30pm UK local time.
- Account Conditions (opens as PDF)
- We are a member of the Financial Services Compensation Scheme so our customers' savings are protected (up to £85,000).
For more information on ISAs and this year's tax allowance view our ISA help & guidance section.
Apply online for a Fixed Cash ISA
Apply
Before you begin make sure you have the following details to hand:
- Your Bank of Scotland account details (if you are an existing customer)
- Previous address details if you have lived at your current address for less than 3 years
- Your National Insurance number
| Term | If you're new to online banking apply here | If you're an online banking customer sign in to apply |
|---|---|---|
| 1 year |
|
 |
| 2 year | |
|
How to fund your account with an opening credit
There are 4 convenient ways you can fund your account:
- Over the counter at any Bank of Scotland branch
- A money transfer from Bank of Scotland or another financial institution. (You will need to quote your new account details. External bank payments are only accepted via BACS).
- By posting us a cheque to the following address:
Bank of Scotland, PO Box 548, LEEDS, LS1 1WU
Please make your cheque payable to the account holders name and include your new account details on the reverse. - Transfer an existing Cash ISA from another provider
Please note all deposits and transfers must be credited to your account within 60 days of account opening.
* Tax treatment depends on your individual circumstances and may change.
Please note: Rates of interest are subject to change, to check effective dates for all our Savings products please see our Interest Rates section.
For a definition of AER, Gross and other terms please view our savings glossary.
