Cash ISAs allow you to save tax-free. Your ISA allowance for the tax year ending 5 April 2018 is £20,000.
Tax-free, means that any interest or dividend payment will be free from UK Income Tax. The advantages of which depends on your individual circumstances and the tax treatment of your ISA may change in the future.
What is the interest rate?
We don’t offer fixed interest rates. Our board decide on an annual dividend each year which is presented at our AGM and voted on by our Members. (Members are our savers and loan customers). Previous dividend returns in past years: 2014 0.75% | 2015 0.5% | 2016 0.5%
How do I open my account?
16 or over.
A UK resident.
£1 minimum opening balance.
Maximum subject to the annual ISA allowance (£20,000 for 2017/2018), plus transfers in from other existing ISA's.
Accounts can only be opened in a sole name and you can only pay into one cash ISA in each tax year.
What does a flexible cash ISA mean?
You withdraw from one ISA, you can put it back into the same account in the same tax year without affecting your allowance.
Are withdrawals allowed?
You can withdraw and replace money from your cash ISA without it counting towards your annual ISA allowance for that year, as long as the repayment is made in the same tax year as the withdrawal.
No withdrawal penalties apply.
How to withdraw
Funds transfer BACS.
Telephone or email to request transfer.
Opening a cash ISA will limit the amount that can be invested in a stocks and shares.
The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
Past dividend payments