Fixed Cash ISA

Deposit a lump sum and watch your savings grow tax free.

Key features of this account

  • Earn 1.50% tax free/AER fixed for a 1 year term
  • Minimum opening deposit of £500 and up to £5,940 until 30 June 2014. From 1st July the annual ISA subscription limit will increase to £15,000 as per the Budget announcement on 19th March 2014
  • All deposits must be made within 180 days of account opening
  • No withdrawals are allowed after account opening (excluding account closure)
  • Cash ISA transfers take advantage of our ISA promise. As part of this we will pay you interest while your funds are being transferred (provided they are free to move)

Current rates

TermInterest rate
1 year 1.50% tax free/AER fixed
2 years 1.75% tax free/AER fixed
3 years 2.00% tax free/AER fixed
4 years 2.15% tax free/AER fixed

Summary box

Account Name

Fixed Cash ISA

Interest rates (AERs)

Fixed rate interest. See current rates above.

Tax status

Interest is paid tax free.
Tax rules may change. The favourable treatment for cash ISAs depends on your personal circumstances and may vary in the future.

Conditions for bonus payments

Not applicable.

Withdrawal arrangements

No withdrawals allowed but can be closed early or transferred to another ISA subject to loss of interest. If you close your account early you will lose the equivalent of:
1 year term - 90 days' tax free interest.
2 year term - 180 days' tax free interest.
3 year term - 270 days' tax free interest.
4 year term - 320 days' tax free interest.
If you do this you may get back less than you deposited.

Access

1 and 2 year terms - Online, phone and branch.
3 and 4 year terms - Phone and branch.


Open a Fixed Cash ISA today.


Open online today


We recommend you read the account conditions carefully as they form a legal contract with us. If there is anything you do not understand, please contact us before you agree to them (as part of the application).

Additional information

Transferring your ISA

  • Existing cash ISA balances can be transferred into this account from another ISA provider, as long as you use our ISA Switching service. Previous tax year funds won't affect your current tax year allowance
  • If your transfer is delayed because your existing ISA has a notice period or restriction, your current provider will let us know when it will be free to move to us, and we’ll pay interest from that date
  • Please be aware your current ISA provider may apply switching costs
  • Do not transfer any ISA balance yourself otherwise you'll lose your tax benefits
  • Cash ISA transfers must be completed within 180 days of account opening

Number of accounts

You can only subscribe to one cash ISA during any one tax year.

Account interest

  • Fixed rate interest means the rate we pay will not change throughout the term
  • Interest paid annually on anniversary of account opening. This will not count towards your annual allowance. You can only choose to receive interest monthly if you open a Fixed Cash ISA in branch or by calling us on 0845 602 03 04 (Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 9am-5pm).
  • You can choose where your interest is paid: to your ISA, to another account with us or another bank or building society. If interest is paid into a different account, it will lose its tax free status once that has happened.
  • To have your interest paid to another account you first need to open your account online and then provide your instructions by calling us on 0845 602 03 04 (Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 9am-5pm). Alternatively, make an appointment in your local branch.

Account maturity

  • We will write to you before your maturity date to keep you informed
  • If we do not hear from you, at the end of the fixed term, your account will convert into an Access Cash ISA without bonus, currently paying 0.50% tax free/AER variable

For more information about

Other items to be aware of

  • Opening a cash ISA affects the amount you can invest in a stocks and shares ISA
  • You are only allowed to pay into one cash ISA per tax year
  • Please note, we are covered by the Financial Services Compensation Scheme so our customers' savings are protected (up to £85,000)
  • You will need your National Insurance Number to hand before you apply

Eligibility

To open a cash ISA you must be 16 or over. You must be resident and ordinarily resident in the UK for tax purposes.


Open a Fixed Cash ISA today.


Open online today


We recommend you read the account conditions carefully as they form a legal contract with us. If there is anything you do not understand, please contact us before you agree to them (as part of the application).

Apply

Open a Fixed Rate ISA today.

TermIf you're new to online banking apply hereIf you're an online banking customer sign in to apply
1 year

Apply now for a 1 year Fixed Cash ISA

Sign in to apply for a 1 year Fixed Cash ISA
2 year Apply now for a 2 year Fixed Cash ISA Sign in to apply for a 2 year Fixed Cash ISA
3 year Please either call us on 0845 602 03 04 (Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 9am-5pm) or find your nearest branch.
4 year

You can fund your account using 5 convenient ways:

  1. You can fund your account as part of the internet banking application
  2. Over the counter at any Bank of Scotland branch
  3. A money transfer from Bank of Scotland or another financial institution. (You will need to quote your new account details. External bank payments are only accepted via BACS).
  4. By posting us a cheque to the following address:
    Bank of Scotland, PO Box 548, LEEDS, LS1 1WU
    Please make your cheque payable to the account holders name and include your new account details on the reverse
  5. Transfer an existing cash ISA from another provider

All deposits and transfers must be completed within 180 days of account opening.

Tax treatment depends on your individual circumstances and may change.

Please note:
Rates of interest are subject to change, please check before opening. Rates are fixed on account opening. Rates effective from 0.00am on 04/03/2014.
For a definition of AER, tax free and other terms please view our savings glossary.

Open a Fixed Cash ISA today.

Open online today

Financial Services Compensation Scheme

Find out more