Skip to main content

Cash ISA Tracker Issue 5

4.70% 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 will go up or down in line with changes to the Bank of England Base Rate for 24 months
  • 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 current and/or previous tax years.

Summary Box

Account name Cash ISA Tracker Issue 5
What is the interest rate?
Annual Interest

4.70% tax-free pa/AER variable

  • The rate of interest is guaranteed to track 0.55% below the Bank of England Base Rate for 24 months. To monitor the Bank of England Base Rate visit bankofengland.co.uk
  • If the Bank of England Base Rate changes, the new interest rate on your account will apply without notice, no more than 14 days after the change is effective.
  • Annual interest is earned daily and paid on the anniversary of account opening.
Monthly Interest:

4.60% tax-free/4.70% AER variable

  • The rate of interest is guaranteed to track 0.55% below the Bank of England Base Rate for 24 months. To monitor the Bank of England Base Rate visit bankofengland.co.uk
  • If the Bank of England Base Rate changes, the new interest rate on your account will apply without notice, no more than 14 days after the change is effective.
  • Monthly 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?
  • The interest rate is variable, so it can go up or down dependent on the Bank of England Base Rate.
  • Section 8 of our Savings Account Terms and Conditions explains why we may change the interest rate.
What would the estimated balance be after 24 months based on a £1,000 deposit?
  • The estimated balance after the fixed term would be £1,096 assuming that;
    • the account is opened with £1,000 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 based on the Bank of England Base Rate as at 15/09/2023 and does not take into account any changes to this rate during the term of the account.

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 open to UK residents aged 16 or over and can be opened and managed online, in branch, over the phone, by post or in branch. The account cannot currently be opened via the Skipton app.
  • For each means of accessing your account you wish to use, you will be required to set up appropriate security and access measures.
  • To open and operate the account a valid email address must be provided.
  • You can save from £1 up to your total ISA allowance each tax year (which is £20,000 for the 2023/24 tax year), plus any ISA transfers, up to a maximum of £1 million.
  • You can find information on how to transfer an existing ISA into this account in the Cash ISA Tracker key features and account terms and conditions.
  • Joint accounts are not allowed.
Can I withdraw money?
  • Yes, subject to you setting up the relevant security measures, you can withdraw online, in branch, over the phone or by post. You don’t need to give us notice and there are no penalties for withdrawals.
  • This account is a flexible ISA, 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.
  • At the end of the 24 month term, which is also known as ‘maturity’, unless you tell us otherwise, your account will automatically transfer into a new easy access Cash ISA, which has a variable rate of interest and doesn’t track the Bank of England Base Rate. 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
  • The 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 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.

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

Ready to apply?

4.70% tax-free pa/AER variable
(Annual Interest)

Apply online (Annual Interest)

4.60% tax-free/ 4.70% AER variable
(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.

Branch

If you'd like to open your account in branch, please contact your local branch to arrange an appointment. Branch finder.

Phone

You can apply for this account over the phone. Call us on 0345 608 0783.

Post

Return your application form and cheque to:

Customer Delivery
Skipton Building Society
Principal Office
The Bailey
Skipton
North Yorkshire
BD23 1DN
Application forms

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
Version Info: