For those who can commit some of their savings for a fixed period of time to earn an interest rate guaranteed to remain fixed for the term of the investment
- the minimum balance for these accounts is £5,640, which must contain the current tax year's full subscription. However, if you are transferring previous year's subscriptions without adding current tax year's subscriptions, then the minimum balance is £3,000. If you are transferring previous year's subscriptions and wish to add new money to the account then you must add the current tax year's full subscription.
- you may transfer funds from another cash ISA e.g. an Instant Cash ISA to a Fixed Interest Fixed Term Cash ISA, provided only one cash ISA is subscribed to during the current tax year
- available if you are 16 years of age or over
Fixed Interest Fixed Term Cash ISA (term approximately 1 year)
Key Product Information Summary Box
| Account Name | Fixed Interest Fixed Term Cash ISA - Issue AP |
|---|---|
| Interest rates (AER) | Tax Free1 / AER2 |
| 2.50% | |
| Fixed interest until 25 May 2013, paid on 30 April. Interest added to the account annually or paid to another Cumberland account or bank account | |
| Tax Status | Interest is paid tax free |
| Conditions for bonus payment | No bonus payment applies to this account |
| Withdrawal arrangements | Partial withdrawals are not permitted during the fixed interest term. Closures and closure transfers to another ISA provider will be subject to 90 days loss of interest. Penalty free withdrawal on maturity date. |
| Access | Local branch |
Fixed Interest Fixed Term Cash ISA (term approximately 3 years)
Key Product Information Summary Box
| Account Name | Fixed Interest Fixed Term Cash ISA - Issue AR |
|---|---|
| Interest rates (AER) | Tax Free1 / AER2 |
| 3.25% | |
| Fixed interest until 19 May 2015, paid on 30 April. Interest added to the account annually or paid to another Cumberland account or bank account | |
| Tax Status | Interest is paid tax free |
| Conditions for bonus payment | No bonus payment applies to this account |
| Withdrawal arrangements | Partial withdrawals are not permitted during the fixed interest term. Closures and closure transfers to another ISA provider will be subject to the following interest penalties: Up to 18.05.2013 - 180 days loss of interest. Between 19.05.2013 and 18.05.2014 - 120 days loss of interest. Between 19.05.2014 and 18.05.2015 - 90 days loss of interest. Penalty free withdrawal on maturity date. |
| Access | Local branch |
- tax free rate of interest is the rate payable, under current legislation, where interest is exempt from income tax (your tax benefits will be lost if your ISA ceases to be tax exempt
- annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year
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