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1 Year Online Fixed Rate Cash ISA Issue 108

1.10% to 1.20% tax-free pa/AER fixed
(Annual interest)

Ready to apply?

This account may be right for you if:

  • you want to be able to transfer in ISA savings from previous tax years
  • you have a lump sum to invest from current and/or previous years' ISA allowances
  • you don't want to continue to pay in after the first seven days from account opening
  • you want a fixed rate of interest that's guaranteed for the fixed term
  • you don’t want to withdraw money before the end of the fixed term.

Summary Box

Account name

1 Year Online Fixed Rate Cash ISA Issue 108

What is the interest rate?

Balance Annual Interest
(tax free pa)		 Monthly Interest
(tax free pa)		 AER
(tax free pa)
£500 - £19,9991.10% tax-free pa1.09% tax-free pa1.10%
£20,000 +1.20% tax-free pa1.19% tax-free pa1.20%
  • Annual Interest Rate
    Interest is earned daily and paid on the anniversary of account opening.
  • Monthly Interest Rate
    Interest is earned daily and each month's interest is paid on the same date your account was opened or the last day of the month if shorter.

    For balances eligible for higher rates of interest, the higher rate applies to the total balance.

Can Skipton Building Society change the interest rate?

The interest rates are fixed for the term of this account. This means we won't change the interest rates, but if your account balance increases and you become eligible for the higher interest rate, this will be applied to your account for the remainder of the fixed term.

What would the estimated balance be at the end of the fixed term?

Based on a deposit of Projected balance
£1,000 £1,011
£20,000 £20,240

The estimated balance projections assume that;

  • the account is opened with the amount stated 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.

Estimated balances are for illustrative purposes only and may be less for accounts opened by debit card.

How do I open and manage my account?

  • This account is available to UK residents aged 16 or over and can only be opened and managed online.
  • During the first 7 days from account opening you can:
    • deposit up to your total ISA allowance (£20,000 for 2019/2020)
    • make a request for an ISA transfer in.
    After this your account may be closed to further deposits at any time and without notice
  • You can save from £500 up to £1 million.
  • 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 or transfer it to another ISA. If you do this you'll lose 120 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 online fixed rate cash ISA, unless you tell us otherwise, and you'll have 21 days to change your mind.
  • We'll contact you before maturity and you can find out more about the maturity process in condition 8 of the further terms and conditions.

Additional information

  • AER stands for Annual Equivalent Rate and shows what the interest 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.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

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

You can apply for this account securely online. If you haven't already register with Skipton Online, we will set up your online access as part of this process. You'll need to install the Skipton mobile app on a mobile device. Without this you won't be able to carry out certain transactions on the account, either through the mobile app or through Skipton Online.

Ready to apply?

1.10% to 1.20% tax-free pa/AER fixed

Apply online (annual interest)

1.09% to 1.19% tax-free pa
1.10% to 1.20% AER fixed

Apply online (monthly interest)
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Transferring your Cash ISA

If you would like to transfer your existing ISA to our 1 Year Online 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 ISAs and subsequent closure of this account during the fixed term are subject to 120 days interest penalty which may mean you get back less than you paid in.

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

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We always listen to you

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 ec.europa.eu/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.

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

*To help maintain service and quality, some telephone calls may be recorded and monitored.

Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice. Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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