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 £15,000, less any amount invested in a stocks & shares ISA in the same tax year
  • All deposits and transfers must be made within 60 days of account opening
  • Choose for your interest to be paid monthly (may be at a lower rate) or annually on anniversary of account opening
  • No withdrawals are allowed after account opening (excluding account closure)
  • Transfers into our cash ISAs take advantage of our ISA promise.

Current rates

TermInterest rate
1 year 1.50% tax free/AER fixed
2 years 1.70% tax free/AER fixed
3 years 1.75% tax free/AER fixed

If you’re looking to invest for more than 5 years why not consider investing in our managed funds.

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.
If you do this you may get back less than you deposited.

Access

Online, 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 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 60 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 monthly (may be at a lower rate) or annually on anniversary of account opening. This will not count towards your annual allowance.
  • You can choose where your interest is paid: to your ISA, to another account with us or another bank or building society. Please note that if you arrange for your interest to be paid into a different account, any further interest you earn from this will be subject to tax, unless the other account is also tax-free or is registered to receive gross interest.
  • 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 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.

 

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1 year

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2 year  Apply now
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3 year  Apply now   Sign in

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 ISA from another provider

All deposits and transfers must be completed within 60 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 30/09/2014.
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
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