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Fixed Rate Cash ISA (Issue 40)

Benefits to you

  • Competitive rate of 1.40% tax-free/AER, fixed for 1 year
  • Minimum investment of £1,000
  • Additions at any time (subject to HM Revenue & Customs limits)
  • ​Transfers in from other providers accepted

SUMMARY BOX

ACCOUNT NAME

Fixed Rate Cash ISA (Issue 40)

WHAT IS THE INTEREST RATE?

​Tax-Free/AER: ​1.40%      Net: N/A      Bonus: N/A

CAN TEACHERS BUILDING SOCIETY CHANGE THE INTEREST RATE?

The interest rate for this account is ​fixed, meaning that it cannot be changed during the fixed rate period.

WHAT WOULD THE ESTIMATED BALANCE BE AFTER 12 MONTHS BASED ON A £​1,000 DEPOSIT?

The estimated balance after 12 months based on a £1,000 deposit would be £1,0​1​4. This amount is based on the assumption that all terms and conditions for the account are met.

HOW DO I OPEN AND MANAGE MY ACCOUNT?

This account can be opened and managed online or by post. The minimum opening balance for this account is £1,000 with a maximum investment of £250,000.

CAN I WITHDRAW MY MONEY?

Withdrawals cannot be made during the fixed rate period and therefore 'Clause 9' of the ISA General Terms and Conditions only applies on maturity.

ADDITIONAL INFORMATION

  • This ISA matures at midnight 25th September 2019
  • Available for unpaid subscriptions for the tax years 2018/2019 and 2019/2020
  • ​Daily interest
  • Interest paid annually on 25th September. Alternatively, interest can be paid direct to a bank account or transferred to another account with the Society
  • The Society will write to you prior to maturity with the options that are available. You will, of course, have the opportunity to withdraw or transfer to one of the Society's other savings accounts at that time without charge 
  • Early closure allowed subject to a 90 day penalty interest charge (no partial withdrawals permitted)
  • Transfers in from other providers accepted
  • This is not a flexible ISA
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 The security of your personal data is our priority, and our Privacy Notice explains how we use and store your information. Please click here to read our Privacy Notice prior to submitting an application form.

You must also be sure that you have read and understood how the account works and that it will suit your requirements. All terms and conditions can be found on our Savings Terms and Conditions page.

There are a number of HM Revenue & Customs limits regarding ISAs you should be aware of as follows:

  • For the tax year 2018/2019, the annual ISA allowance is £​20,000. This can be invested in various types of ISA. For more information regarding the new allowance, please visit http://www.hmrc.gov.uk/isa/new-isa-faq.pdf
  • You cannot pay into more than one Cash ISA in the same tax year
  • If you do not subscribe to a Cash ISA in the previous tax year but then decide to add to it for the current tax year, you will have to complete a new application form before payment can be made
  • The tax year runs from 6th April to 5th April the following year
  • The government has said that ISAs will be available indefinitely.

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