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Fixed Rate Cash ISA for Maturing Customers - fixed until 31st October 2017

If you don’t need access to savings and want them to be tax-free, then a Fixed Rate Cash ISA could be for you. You can simply reinvest your maturing funds, and the taxman can’t touch a penny of your interest.

If you would like to reinvest some or all of your maturing funds into a Britannia Fixed Rate Cash ISA you can apply by contacting your local branch. Please remember to check the opening times as these may vary and we'd recommend calling your branch before you visit, to ensure availability.

If you choose to apply in branch it is advisable to take sufficient identification with you.

This is a limited issue product and may be withdrawn at any time.

Interest rates

Interest rates for Britannia Fixed Rate Cash ISA for Maturing Customers - fixed until 31/10/2017
Annual interest
Minimum Balance AER Tax-free
£5,000.00 up to the maximum 2016/2017 ISA allowance of £15,240.00 and/or a minimum of £1 if transferring previous years' cash ISAs with Britannia or other providers. 1.10% 1.10%
The above fixed rates apply to the Fixed Rate Cash ISA launched on 07/09/2016 and are fixed until 31/10/2017 .

Summary box

Key Product Information for our Savings Account
Account name Fixed Rate Cash ISA - fixed until 31/10/2017
Interest rates (AERs) A minimum opening balance of £5,000.00 up to the maximum of £15,240.00 if using the 2016/2017 tax year allowance and/or £1 if transferring previous years' cash ISAs with Britannia or other providers. Annual interest rate of 1.10% tax-free/AER is fixed until 31/10/2017.
Tax status Interest is tax free
Condition for bonus payment No bonus payments exist for this Account
Withdrawal arrangements Withdrawals or closures before 1 November 2017 will be subject to a charge equivalent to 180 days loss of interest at the fixed rate on the amount withdrawn. The charge will be taken from interest earned but not yet paid; if you withdraw from or close your account before enough interest to cover this charge has been earned, the balance will be taken from the funds in your account. Withdrawals of capital cannot be replaced
Access Branch or by post

Features

  • gives you a fixed rate of 1.10% tax-free, until 31/10/2017
  • will mature on 1 November 2017 when your money will be transferred into a variable rate Cash ISA (or equivalent)
  • can be opened with £5,000.00 up to the maximum of £15,240.00 if using the 2016/2017 tax year allowance and/or £1 if transferring previous years' cash ISAs with Britannia or other providers
  • Pays interest into your account after close of business on 31 October each year.
  • is issued with a passbook

This is a limited issue product and may be withdrawn without notice.

Risks and restrictions

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.

Are there any risks or restrictions?

  • The Fixed Rate Cash ISA has a fixed end date. If you make a withdrawal or transfer out before the account matures, the withdrawal or transfer out will be subject to a charge equivalent to 180 days loss of interest at the fixed rate on the amount withdrawn.
  • This is a limited issue product and may be withdrawn at any time.
  • No further deposits are allowed into this account after the product has been withdrawn, so if you are depositing less than your annual ISA limit this will restrict the amount you can hold in a cash ISA in this tax year (however, you will still be able to invest in a stocks and shares ISA or innovative finance ISA with another provider, up to the annual ISA limit, if you wish).
  • Over time, inflation will reduce the true value of your savings.
  • Whether general interest rates rise or fall, this cash ISA pays interest at a fixed rate.
  • 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.
  • As this is not a flexible ISA, withdrawals of capital cannot be replaced

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