Britannia Fixed Rate Cash ISA

For people who want to save tax-free and earn a fixed rate of interest.

Ideal if: You don't need access to your savings until a fixed date.

Open it with your ISA allowance for the tax year or transfer in an existing cash ISA held with us or another provider.

Fixed Rate Cash ISA - fixed until 30/09/2022 - 0.10% tax-free /AER 

Fixed Rate Cash ISA - fixed until 29/09/2023 - 0.15% tax-free /AER 

Features

  • Open with £5,000 if using current year subscriptions or from as little as £1 if transferring previous years subscriptions from another ISA with us or another provider
  • Know exactly how much interest you’ll earn
  • Withdrawals during the fixed term are subject to 180 days' loss of interest on the
    amount withdrawn
  • Manage by post or in branch

Summary box for Britannia Fixed Rate Cash ISA

Account name

Britannia Fixed Rate Cash ISA

What is the interest rate?

Tax-free / AER Maturity Date
Fixed Rate Cash ISA - fixed until - 30/09/2022 0.10% 1 October 2022
Fixed Rate Cash ISA - fixed until - 29/09/2023 0.15% 30 September 2023
  • For fixed end date 30/09/22 interest is calculated daily and will be paid into your account annually after close of business on 30 September each year.
  • For fixed end date 29/09/23 interest is calculated daily and will be paid into your account annually after close of business on 29 September each year.

Can Britannia change the interest rate?

No. the interest rate is fixed. It won't change until the account matures at the end of your term.

What would the estimated balance be at the end of the fixed term, based on a £5,000 deposit?

Balance at end of fixed term
Fixed Rate Cash ISA - fixed until - 30/09/2022 £5,005.00
Fixed Rate Cash ISA - fixed until - 29/09/2023 £5,014.98

This calculation is for illustrative purposes only and assumes:

  • You made a £5,000 deposit on an account opening date of 1 October 2021.
  • You haven't made any additional deposits or withdrawals.
  • For fixed end date 30/09/22 we added interest to your account at the close of business on 30 September each year.
  • For fixed end date 29/09/23 we added interest to your account at the close of business on 29 September each year.

How do I open and manage my account?

Open an account

To open an account you must be a UK resident aged 16 or over.
You can open an account:

  • online
  • over the phone
  • in branch
  • in sole name only

Minimum balance

If you’re using any of your 2021/2022 ISA allowance, the minimum opening balance is £5,000.

But if you're only transferring in your previous tax years' ISA allowance then the minimum balance is just £1.

If the minimum amount of £1 isn't paid within 30 days we may close the account.

Maximum balance

If you’re using any of your 2021/2022 ISA allowance, the maximum amount you can pay in is £20,000.

But if you're transferring in ISAs from previous tax years, the maximum balance is £1,000,000.

Making deposits

If you're using any of your 2021/2022 ISA allowance

You can make deposits by cash, cheque or transfer from another account held with us or another provider.

If you're transferring your cash ISA to us

You can do this by providing us with a completed ISA transfer authority form.

You can make as many deposits as you like up to the maximum amounts above.

However, we can withdraw this product at any time without notice and once it has been withdrawn, you cannot make any more deposits.

So if you’re using any of your 2021/2022 ISA allowance, but you deposit less than your annual ISA limit, and we then withdraw the product, this will restrict the amount you can hold in a cash ISA in this tax year.

This is because you can only pay into one cash ISA in each tax year, and you won't be able to pay any more into this cash ISA. However, you will still be able to invest in another type of ISA, for example a stocks and shares ISA, with another provider, up to the annual ISA limit, if you wish.

How do I manage this account and get in contact?

You can contact us and manage your account:

  • by phone
  • in branch
  • by post

Can I withdraw money?

Yes. However, if you withdraw before your maturity date, you'll be charged the value of 180 days' interest on the amount you withdraw - using the account's interest rate.

This charge will be taken from interest you've earned but haven't yet been paid. But if you haven't earned enough interest to cover this charge, some of it will come out of your original deposit(s).

Any withdrawn money that you want to replace (while the product is still available) will count towards your ISA subscriptions for the current tax year.

You are only allowed to deposit up to the maximum ISA limit in a tax year. So, for example, if you deposit £10,000 and then withdraw £1,000, you’ll only be able to deposit a further £10,000 in that tax year.

You can withdraw money:

In branch

You can withdraw cash, cheques or make internal transfers.

By post

You can send us withdrawal requests and we’ll send your money to you by cheque in the post or we can make internal transfers.

At the end of the fixed term, your account matures and your money will be put into a variable rate instant access cash ISA - unless you provide us with other maturity instructions.

We'll send you a letter when your fixed term is coming to an end. It'll remind you of your maturity date and let you know what options are available to you, such as re-investing or withdrawing.

Additional information

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

Interest earned from this account will not count towards any of your available Personal Savings Allowance.

All interest earned from your ISA will be free of both Income and Capital Gains Tax.

You cannot subscribe to a cash ISA with us if you have already contributed to another cash ISA using this tax year’s ISA allowance, or if you have already invested the full ISA allowance in another type of ISA this tax year.

For more information about ISAs in general, please read our 

ISA allowances and information guide

Apply for a Britannia Fixed Rate Cash ISA

You must:

  • be a UK resident
  • be 16 years of age or above
  • have £5,000 or more for an initial deposit - if using your ISA tax allowance from this year

Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.

More about credit checks for savings accounts

Before you apply

Please read these important documents↓ and save them for future reference.

Transfer an existing cash ISA

To transfer an existing cash ISA account held with us or another provider, please print, complete and post the Cash ISA transfer application pack.

Make sure to name which ISA you are transferring into when filling out the final section of the ‘ISA Transfer Application Form.’ i.e 'Fixed Rate Cash ISA fixed until 30/09/2022'.

You’ll need to meet the same eligibility criteria as new savings customers.

Apply online

It will take around 10 minutes to complete this application. You can save your progress and come back at any time.

Select your fixed rate cash ISA:

Savings terms explained

AER stands for Annual Equivalent Rate and shows what the interest rate would be if it were paid and added to your account each year.

Fixed interest means the rate stays the same until the account matures.

Gross is the rate of interest payable before any tax is taken off.

Tax-free means you will not pay any tax on your interest.

Tax year runs from 6 April to 5 April.

Variable interest means that it could go up or down.

Business day is usually Monday to Friday excluding bank holidays.

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.

FSCS logo

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please click here for further information or visit www.fscs.org.uk

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