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Cash ISA

Make the most of your 2016/2017 tax-free ISA allowance by saving up to £15,240.

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Retrieve application

 

Interest rates

Interest rates

 

 

The interest rate is variable

Effective from Tax-free AER Interest credited
Current rate available up to 13.11.2016 0.50% 0.50% Annually on 5th April
New rate effective from 14.11.2016 0.37% 0.37% Annually on 5th April

 

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Summary box

Summary box

Key Product Information for our Savings Account
Account name Cash ISA
Interest rates (AERs) The interest rate payable is variable
Tax status Interest is paid tax-free
Conditions for bonus payment No bonus payments for this account
Withdrawal arrangements You can withdraw as much of the balance of your ISA as you like without any interest charges. If you take money out, you can’t replace it. Once you’ve paid your allowance for the tax year, you can’t pay in any more money until the next year, regardless of any withdrawals
Access Online, phone, Telephone Banking, branch

 

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Features and benefits

Features and benefits

  • Minimum deposit £1 – maximum deposit is £15,240 in the 2016/2017 tax year.
  • You can pay in up to £15,240 into a Cash ISA if using the 2016/2017 tax year allowance.
  • Saving for the long term
  • You can make withdrawals at anytime but as this is not a flexible ISA, withdrawals of capital cannot be replaced
  • Make withdrawals at anytime
  • Variable rate of interest
  • All returns from your ISA will be free of both Income and Capital Gains Tax. This is based on current ISA rules. These rules are subject to change
  • Money isn't the only thing that you'll be saving - we are the only UK high street bank with a customer-led Ethical Policy.

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How much can I pay in?

How much can I pay in?

  • The minimum amount needed to open a Cash ISA is £1 and you can make further deposits at any time.
  • You can pay in up to £15,240 if using the 2016/2017 tax year allowance. You can withdraw as much of the balance of your ISA as you like without any interest penalties. If you take money out, you can’t replace it. Once you’ve paid in your allowance for the tax year, you can’t pay in any more money until the next tax year, regardless of any withdrawals.

Apply now

Taking money out

Taking money out

You can have access to your money at any time by the following methods:

  • online transfer
  • electronic transfer over phone
  • request a cheque via Telephone Banking
  • over the counter in a branch

You can withdraw as much of the balance of your ISA as you like without any interest penalties. If you take money out, you can’t replace it. Once you’ve paid in your allowance for the tax year, you can’t pay in any more money until the next tax year, regardless of any withdrawals.

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Paying money in

Paying money in

  • Standing order
  • Direct transfer from another Co-operative Bank account or another bank account.
  • At any Co-operative Bank branch.
  • By sending a cheque through the post.
  • By cheque at any Post Office™ branch.

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Transferring your ISA

Transferring your ISA

Remember, you can subscribe to a Co-operative Bank Cash ISA so long as you have not subscribed to another Cash ISA with another provider in the current tax year. If you currently already have a cash ISA with another bank or building society, you can transfer it to us. The form to do this will be sent with your welcome letter after you have applied. 

For further details about how to transfer your ISA or how you can make the most of your tax-efficient savings you can contact us or visit your local branch. The Building Societies Association's ISA transfer guide also contains more information.

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Definitions

Gross - The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

AER - Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Tax Free - The contractual rate of interest payable where interest is exempt from income tax.

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on the customer’s individual financial circumstances.

The Co-operative Bank reserves the right to decline to accept any application and/or deposit.

Remember you can subscribe to a Co-operative Bank/ Britannia Cash ISA as long as you have not subscribed to another cash ISA with another provider in the current tax year.

smile, The Co‑operative Bank and Britannia are trading names of The Co‑operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS). Find out more