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
|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|
No. the interest rate is fixed. It won't change until the account matures at the end of your term.
|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:
To open an account you must be a UK resident aged 16 or over.
You can open an account:
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.
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.
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However, we can withdraw this product at any time without notice and once it has been withdrawn, you cannot make any more deposits.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:
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 cash, cheques or make internal transfers.
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.
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
Please read the important documents below and save copies of them for future
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.
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.
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