Cash ISA Tracker

1.21% tax-free pa/AER variable

Ready to apply?

This account might be right for you if:

  • you want a variable rate of interest that will go up or down in line with changes to the Bank of England Base Rate until 6 May 2020
  • you’re happy to accept limited access to your money, with only three partial withdrawals until 6 May 2019 and a further three between 7 May 2019 - 6 May 2020.
  • you have a lump sum of £1,000 or more to deposit.

Summary Box

Account name Cash ISA Tracker
What is the interest rate?
Annual Interest 1.21% tax-free pa/AER variable
  • The rate of interest is guaranteed to track 0.46% above the Bank of England Base Rate until 6 May 2020. To access and 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 no more than 14 days after the change is effective.
  • Interest is earned daily and paid annually on 6 May.
Monthly Interest: No monthly interest option available.
Can Skipton Building Society change the interest rate?
  • The rate of interest is variable and could move either up or down dependent on the Bank of England Base Rate.
  • Section 22 of our Savings Account Terms and Conditions explains why we may change the interest rate.
  • We’ll notify you before any drop in your interest rate.
What would the estimated balance be on 6 May 2020 based on a £1,000 deposit?
  • The estimated balance on 6 May 2020 would be £1,015 assuming that;
    • the account is opened on 31 January 2019 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 interest rate stays at 1.21% until the end of the term.
  • The estimated balance is based on the Bank of England Base Rate as at 31 January 2019 and doesn’t 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 available to UK residents aged 16 or over and can only be opened and managed in any of our branches or by post.
  • You can save from £1,000 up to your total ISA allowance each tax year (£20,000 for 2019/20), plus any ISA transfers, up to a maximum of £1 million
  • No joint accounts are allowed.
Can I withdraw money?
  • Subject to the £1,000 minimum operating balance, you can make three partial withdrawals in branch or by post during each of the following periods:
    • from account opening until 6th May 2019
    • 7th May 2019 - 6th May 2020
  • You don't need to give us notice and there are no penalties for withdrawals. If you need to make a further withdrawal, you can do so by closing your account
  • After 6th May 2020 (account maturity), unless you tell us otherwise, your account will automatically transfer into an easy access Cash ISA, which has a variable rate 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.
  • 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.

Post

Return your application form and cheque to:

Customer Delivery
Skipton Building Society
The Bailey
Skipton
BD23 1DN

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

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

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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