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2 Year Fixed Rate Cash ISA

    Our 2 Year Fixed Rate Cash ISA could be right for you if:

    • You have a lump sum to invest and you do not wish to pay in throughout the tax year.
    • You want the security of a fixed rate of interest that's guaranteed for the term of the ISA, rather than a variable rate that can go up or down.
    • You want to be able to transfer in ISA savings from previous tax years, if you have any.
    • You want to choose between having your interest paid every month or once a year. Whichever option you take, you can also have your interest either added to your account or paid into an external bank or building society account.

    Summary Box

    Account name 2 Year Fixed Rate Cash ISA
    What is the interest rate?
    Annual Interest 1.20% tax-free pa/AER
    Interest is earned daily and added to your account at midnight on the anniversary of the date your account was opened.
    Monthly Interest: 1.19% tax-free pa/1.20% AER
    Interest is earned daily and each month's interest is added to your account at midnight on the same date your account was opened, or the last day of the month if shorter.
    Can Skipton Building Society change the interest rate? The interest rate is fixed for the term of this account.
    What would the estimated balance be at the end of the fixed term based on a £1,000 deposit?
    • The estimated balance after the fixed term would be £1,024 based on the following assumptions:
      • £1,000 is paid in when the account is opened and interest starts being earned straight away
      • No further deposits or any withdrawals are made
      • The interest is paid annually and added to the account
      • The estimated balance is for illustrative purposes only and may be less if you open an account by debit card or cheque.
    How do I open and manage my account?
    • This account is available to UK residents aged 16 or over, and can be opened and managed in any of our branches or by post.
    • The first payment into the account can be in cash (branch only), by cheque, debit card or transfer from another Skipton Building Society account You can also transfer ISA savings in from other providers via our ISA transfer service. After that, you can also pay in by electronic payment.
    • You can deposit up to your total ISA allowance (£15,240 for 2016/2017) and transfer ISA savings in for up to seven days after the date of your account opening. After this your account may be closed to further deposits at any time and without notice.
    • You can save from £500 up to £1,000,000.
    • No joint accounts allowed.
    Can I withdraw money?
    • You can't withdraw part of your account balance, however you can close your account at any time and withdraw the full balance in branch or by post, or transfer it to another ISA provider. If you do this you'll lose 180 days' interest. This will be taken from your savings if you haven't earned enough interest on the account, and means you might get back less than you've paid in.
    • At the end of the fixed interest rate term, which is also known as 'maturity', your account will automatically transfer into a new 1 Year Fixed Rate Cash ISA, unless you tell us otherwise, and you'll have 21 days to change your mind.
    • We'll write to you at least 14 days before maturity to explain what will happen when your account matures, and any other options available at any time.
    • You'll find more information about the maturity process in section 10 of the further terms and conditions on the following pages.
    • You can cancel the account in the first 14 days, if you need to.
    Additional Information
    • AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. All ISA interest is paid tax-free, which means it's exempt from income tax. Tax rules may change in future. The AER allows you to compare the interest rates on savings accounts. The higher the AER, the better the return on your savings.
    • It's worth noting that any of our accounts can be withdrawn from sale at any time and without notice.

    If you would like to transfer your existing ISA to our 2 Year Fixed Rate Cash ISA, please read our Transferring Your ISA page.

    If you would like to transfer your Cash ISA held with Skipton to another ISA provider, you will need to complete the ISA Transfer Authority Form supplied by your new provider. Transfers to other ISA providers, and subsequent closure of your account are subject to 180 days interest penalty.

    Annual subscriptions must always be transferred in full for the current tax year.

    If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 850 1722, ask in branch or visit our Complaints page.

    The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567.

    www.financial-ombudsman.org.uk

    For products and services bought online you can also refer to the Online Dispute Resolution platform (ODR) at http://ec.europa.eu/consumers/odr/. As we're a UK building society, the ODR will still refer you to the Financial Ombudsman Service as the alternative dispute resolution body. The Financial Ombudsman Service will refer you back to our complaints process unless you've already been through this.

    Need help?

    If you have a question or need help deciding then you can phone, email or call into a branch - we're always happy to help.

    Call us on 0345 850 1722
    Our lines are open Monday to Thursday 8am-8pm, Friday 8am-5.30pm and Saturday 9am-12pm.

    Apply

    Things to know before you apply

    • This account can only be opened and managed in branch or by post.
    • You will need your National Insurance number when applying for this account.

    If you are a new customer - where possible we use an electronic verification system to verify your identity and address, however we can't do this for postal applications, for children under 18 in England, or if you are not on the electoral roll for your current address. For full ID requirements please see our Proving your identity [PDF] document.

    We like to make sure you are fully aware of the charges which we will make for a number of services and facilities relating to our investment accounts. You can see these in our Tariff of Charges [PDF].

    It is important that you read the key features and terms and conditions carefully. These contain the details of your agreement with us for these accounts and we will rely on them for our relationship with you.

    Visit your local branch for further information and to open this account.

    Branch finder

    This account can be opened by post, download the paper application form below and return with your cheque to the address shown.

    Return your form to:

    Customer Delivery
    Skipton Building Society
    The Bailey
    Skipton
    North Yorkshire
    BD23 1DN

    Financial Services Compensation Scheme

    Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

    Learn more about the FSCS

    FSCS - Protecting Your Money
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