Cash ISA Saver Issue 11

0.40%tax-free pa/AER variable
(Annual interest)

Ready to apply?

This account might be right for you if:

  • you're happy with a variable rate of interest that can go up or down
  • you'd like easy, flexible access to your money without affecting your ISA allowance
  • you want to be able to transfer in ISA savings from previous tax years.

Summary Box

Account name Cash ISA Saver Issue 11
What is the interest rate?
Annual Interest 0.40% tax-free pa/AER
Interest is earned daily and paid on the anniversary of account opening.
Monthly Interest: 0.40% tax-free pa/AER
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.
Can Skipton Building Society change the interest rate?
  • Yes, the interest rate is variable, so it can go up or down.
  • Section 22 of our Savings Account Terms and Conditions explains why we may change the interest rate.
  • If you have at least £100 in your account we'll notify you before we reduce your interest rate.
What would the estimated balance be after 12 months based on a £1,000 deposit?
  • The estimated balance after 12 months would be £1,004 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 on maturity and added to the account
    • The interest rate stays the same for the full 12 months
    • Estimated balances are for illustrative purposes only and may be less for accounts opened 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, by phone or by post.
  • You can deposit from £1 up to your total ISA allowance each tax year (£20,000 for 2019/2020 and £20,000 for the 2020/2021 tax year), plus any ISA transfers, up to a maximum of £1 million.
  • No joint accounts allowed.
Can I withdraw money?
  • Yes, in branch, by phone or by post. You don't need to give us notice and there are no penalties.
  • This account is flexible, so you can withdraw money and put it back without affecting your ISA allowance, as long as it's done in the same tax year and the account is still open.
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

Proving your Identity

  • You will need your National Insurance number when applying for this account.

If you are not an existing customer of the Society, we will require identification to open the account. If you're opening your account in branch, please bring proof of ID as set out in our Proving your identity [PDF] document.

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 850 1722 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 [PDF] document.

Terms and Conditions

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

Application forms

How to apply

Branch

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

Phone

This account can be applied for over the phone. You can call us or arrange for us to call you back.

0345 850 1722
Mon-Thurs
8am - 8pm
Fri
8am - 5:30pm
Sat
9am - 12pm
Arrange callback

Post

Return your application form and cheque to:

Customer Delivery
Skipton Building Society
The Bailey
Skipton
BD23 1DN
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Transferring your ISA

If you would like to transfer your existing ISA to our Cash ISA Saver, 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.

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

You can transfer your flexible ISA to another ISA, but current and previous years' ISA allowances are treated differently. If you transfer your full balance to another ISA, previous years' ISA savings will no longer be flexible if you've withdrawn and not replaced before the transfer.

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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

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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