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2 Year Fixed Rate Cash ISA Issue 240

4.00% 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 ISA savings from other ISAs
  • you have a lump sum of at least £500 to deposit and you don't want to continue to pay in after 06/03/2024
  • you don’t want to withdraw money before the end of the fixed term. If you close your account early you will incur an interest penalty so you may get back less than you paid in.

Unless you tell us otherwise, when the fixed term ends this product transfers into a 1 Year Fixed Rate Cash ISA.

Summary Box

Account name 2 Year Fixed Rate Cash ISA Issue 240
What is the interest rate?
Annual Interest

4.00% tax-free pa/AER

  • This account earns interest daily. If you choose annual interest, it’s added to the account the day before the anniversary of account opening.
  • If you ask us to pay interest to a different account, we’ll pay it on the first working day after the day we’d have added it to this account. Working days exclude Saturday, Sunday and bank holidays.
Monthly Interest:

3.93% tax-free/4.00% AER

  • This account earns interest daily. If you choose monthly interest, it’s added to the account the day before the same date in the month your account was opened or, if there’s no such date, on the last day of the month. For example, if your account was opened on the 6th of the month, monthly interest would be added on the 5th.
  • If you ask us to pay interest to a different account, we’ll pay it on the first working day after the day we’d have added it to this account. Working days exclude Saturday, Sunday and bank holidays.
Can Skipton Building Society change the interest rate?

The interest rate is fixed for the term of the account.

What would the estimated balance be at the end of the fixed term based on a £1,000 deposit?

The estimated balance at the end of the fixed term would be £1,081 based on the following assumptions:

  • the account is opened with £1,000 and starts earning interest straight away
  • no further deposits or withdrawals are made
  • the interest is paid annually
  • interest is added to this account.

Estimated balances are for illustrative purposes only. They may be less for accounts opened by debit card or cheque, because interest won’t be earned until your account receives the deposit.

How do I open and manage my account?
  • This account is available to UK residents aged 16 or over.
  • To open and manage this account, a valid email address must be provided.
  • You can open and manage it through Skipton Online, in the Skipton App, in branch, by post or phone. You’ll need to set up appropriate security and access measures. These might differ depending on how you choose to manage the account.
  • The minimum opening and operating balance for this account is £500.
  • You can pay in your total ISA allowance (which is £20,000 for the 2023/2024 tax year).
  • You can also request transfers in from other ISAs you have with us or another provider.
  • Any payments or ISA transfer requests into this account need to be received on or before 06/03/2024. After this, the account will be closed to payments in. If you’re paying in from another ISA by ISA transfer, the money in the existing ISA must be available for transfer before this date.
  • The maximum balance for this account is £1 million.
  • Joint accounts aren’t allowed.
Can I withdraw money?
  • You’ve 14 days from when you open your account to notify us (in writing, in branch or by phone) if you wish to cancel your account.
  • You can’t withdraw part of your account balance. However, you can close your account at any time and withdraw the full balance through Skipton Online, the Skipton App, in branch, by post or phone, as long as you’ve set up the relevant security and access measures. You can also transfer it to another ISA.
  • If you close the account after the 14-day cancellation period but before the end of the fixed term, you’ll have to pay 180 days’ worth of interest, so you might get back less than you paid in.
  • If you withdraw by electronic payment this must be made to a UK bank or building society account in your own name. We won’t make an electronic payment to any other type of account.
  • At the end of the fixed term, which is known as ‘maturity’, your account will automatically transfer into a new 1 year fixed rate Cash ISA, unless you tell us otherwise when we contact you before maturity. You can find out more about the maturity process in term 10.0 of the further terms and conditions.
Additional information
  • The Annual Equivalent Rate (AER) 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.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

It is important that you read the terms and conditions 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.

We’ll set up your Skipton Online access as part of your secure online application, if you haven’t already registered.

Ready to apply?

4.00% tax-free pa/AER fixed
(Annual Interest)

Apply online (Annual Interest)

3.93% tax-free/ 4.00% AER fixed
(Monthly Interest)

Apply online (Monthly Interest)

Other ways to apply

You need an active email address to open this account. If you don't have one, speak to us over the phone or in branch to find an account that's right for you.

Proving your identity

We may require identification to open the account. If you're 18 or over and on the electoral roll for your current address we may be able to verify your identification electronically, to do this please call us on 0345 608 0783 and we'll let you know straight away if you've passed our checks.

If we can't verify your identity electronically, or if you're under 18, you'll need to provide us with proof of ID as set out in our Proving your identity document [PDF].

If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 608 0783, 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

You're protected up to £85,000

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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