30 Day Notice ISA
Rates effective from 1st April 2009
* 0.70% bonus applicable for the first year your account is open.
Tax free savings
The 30 Day Notice ISA is a tax-free savings account which pays a bonus for the first 12 months your account is open.
Features
- You may make withdrawals at any time subject to 30 days notice or the account will be subject to a 30 day gross interest penalty charge
- Interest will be paid without the deduction of income tax provided that the ISA terms have been fully met
- A high rate of interest which includes a 0.70% gross bonus for the first 12 months your account is open.
- Customers can now top up their ISA to the increased subscription limit of £5,100 for the remainder of the current tax year from 6th October 2009 (if born on or before April 6th 1960)
Age restriction:
- Available to customers aged 16 or over.
Minimum initial investment required to open and operate the account:
Minimum/Maximum deposit:
- £1 minimum additional deposit for Branch or Agency operated accounts and £100 for telephone and postal operated accounts
- £3,600 maximum deposit can be made each tax year
- If the account holder is 50 years old or older on the 6th October 2009, up to £5,100 can be invested in total from the 6th October 2009, in your ISA in the 2009-2010 tax year.
Restrictions on deposits:
- Coins totalling less that £25 will be accepted if sorted and bagged in Branch or Agency only.
- Cash and coins not accepted by post.
- A maximum of £3,600 can be deposited each tax year
- You can only invest in one Cash ISA each tax year provided you have not invested your full ISA allowance into a Stocks and Shares ISA
- We will not accept applications from non-UK residents (except British Forces personnel overseas, nominees, minors (under 16 years of age), trustees, corporate bodies or registered charities.)
- Customers born on or before April 6th 1960 will be able to top up their account by presenting their passbook in Branch or Agency when depositing funds (Branch and Agency based accounts only), writing to us with their request and a cheque or telephoning our contact centre.
Withdrawals:
- For penalty free withdrawals 30 days notice is required
- Immediate withdrawals will incur a charge eqivalent to 30 days gross interest on the amount withdrawn.
- Up to £500 cash at any Branch or Agency
- Cheque withdrawals over £10 can be arranged at any Branch or Agency
- For accounts operated by post and telephone the minimum withdrawal amount is £100. Withdrawal requests can be made by writing to us using our Freepost service or telephoning us with your request.
- Any cheques deposited must be cleared before a withdrawal can be made on them. After paying in a cheque, you will not be able to make a withdrawal against the deposit until the sixth banking day following receipt.
- Withdrawals do not affect ISA deposit limits. If you have subscribed the maximum permitted in the tax year, you cannot make any further deposits regardless of the withdrawals made.
Interest:
- Interest rates on this account are variable and interest is calculated on a daily basis.
- Credited annually to the account at midnight on 1st April
Tax:
- Interest will be paid without the deduction of income tax provided that the ISA terms have been fully met.
Additional Information:
- On account opening choose to operate your account by Branch or Agency, or by telephone and post.
How do I open a 30 Day Notice Cash ISA?
Summary of account:
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Summary Box
Key Product Information for our 30 Day Notice ISA |
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Account name |
30 Day Notice ISA |
|
Interest rates (AERs) |
Current rates are listed above. Interest rates are variable. |
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Tax status |
Tax free |
|
Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
30 days notice required or immediate access with 30 days loss of gross interest |
| Access |
Branch, Agency, telephone or post |
Net rates assume the lower rate of income tax of 20%. These figures are rounded and are for illustrative purposes only.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded each year.
GROSS: The gross contractual rate of interest before the deduction of tax at the appropriate rate specified by law. Interest will be paid gross to non-taxpayers subject to the required HM Revenue & Customs certification (R85).