Important : This account can only be opened and operated through our branch and agency network
For an application form you can simply pop in to our branch or one of our agencies
New ISA rules - from 6 April 2008
click here for more details.
Main features of the account
Minimum opening deposit and balance £1.
Invest up to £3,600 in each tax year.
Minimum age 16.
Proof of identity and address verified electronically in the first instance.
Interest paid free of income and capital
gains tax for people who live in the UK.
Interest is paid tax free and added to the
account annually on 5 April.
Take money out of your account when you need
it without notice or penalty. (Up to £500 in cash or up
to the total balance by cheque from any branch or by post -
lower limits may apply at our agencies).
The £3,600 annual investment limit
applies to the total credits to the account and not the balance.
If you pay £3,600 into your account then take out £500
you cannot replace the £500 in the same tax year.
Minimum Opening Deposit £1
Tax Free Rate % p.a./AER
Up to annual maximum £3,600
5.21
With effect from 1 March 2008 the above interest rates will apply
Annual Equivalent Rate or AER illustrates what the interest rate would be if the interest was paid and added each year. Please note that every advertisement for a savings product which quotes an interest rate will contain an AER allowing you to compare at a glance what return you can expect from your savings over time.
AER - interest which is paid annually on 5 April is the same as the appropriate gross rate or tax free rate. For accounts where the interest is paid monthly the AER is shown.
Tax free rate is the stated contractual rate of interest as the interest is exempt from income tax.
