Regular Saver ISA

Including bonus

4.15% Tax Free*/AER* on the first £25,000 of any balance.

3.45% Tax Free*/AER* on the balance above £25,000.

Excluding bonus

3.45% Tax Free*/AER* on all balances

Interest is calculated daily and added to your account annually on the 31^st March. The interest rate bonus will be paid on providing that you have:

• Made no more than 2 withdrawals during the period 1^st April to 31^st March (or from the date of opening to 31^st March).

• Missed no more than 1 monthly payment during the period 1^st April to 31^st March (or from the date of opening to 31^st March).

Yes, the rate is variable. That means we can move it, up or down.

Section 10 of our ‘General Savings Account Terms and Conditions’ explains when we can do this, and how we’ll let you know.

£1,226.91 including bonus. (Up to £25,000 interest rate tier)

£1,222.37 excluding bonus.

This projection is provided for illustration only and does not consider individual circumstances. This assumes a deposit of £100 has been made each month, no further deposits or withdrawals being made over a 365-day period starting from the 1^st April, and that the interest rate does not change.

Eligibility

This account is only available to UK residents aged 18 or above, living in the following postcodes: BL, CH, CW, M, OL, SK, WA or WN.

Opening the account

You can open an account in branch or by downloading an application form from our website and emailing or posting it to us.

Managing the account

You can operate your account in branch or through our Online Services.

A minimum monthly deposit of £25 is required. A maximum deposit limit of £1,666 per calendar month applies, which means a maximum of £19,992 per year can be saved in this ISA. The subscription limit set by HM Revenue & Customs is currently £20,000 so you will not be able to subscribe to the maximum cash ISA limit.

Deposits can be made in branch by cash or cheque, standing order or online banking. These should be made by no later than the 25^th of the month to avoid late subscriptions.

ISA Transfers are not accepted.

Withdrawals from the account can be made in branch, over the telephone or through our Online Services.

Withdrawals in branch can be made by cash, cheque, or Faster Payment. Withdrawals over the telephone or through Online Services can be made by Faster Payment directly to your nominated bank account or to another Vernon Building Society account in your name.

There is no minimum withdrawal amount for this account. However, the minimum balance allowed on this account after a withdrawal to keep the account open is £1.

If more than 2 withdrawals are made during the period (1^st April to 31^st March) the annual interest rate bonus will not be payable on 31^st March.

This is not a Flexible ISA, meaning you cannot withdraw funds from your account and replace them without it counting towards your annual allowance.

Please also refer to section 12 of the General Savings Terms & Conditions brochure for further information.

The information contained in this summary box forms part of the terms and conditions of the account and should be read in conjunction with our General Savings Account Terms & Conditions. Section B contains specific Additional Conditions which relate to Cash ISA products.

Your ISA savings and interest are tax exempt and do not count towards your Personal Savings Allowance. The tax treatment of ISAs may be subject to change in the future by Government and HM Revenue and Customs.

ISA Transfers

Transfers in

Transfers in to this account are not accepted.

Transfers out

You can transfer funds held in this account to another provider. 

• Previous years subscriptions can be transferred in full or in part.

• Current year’s subscriptions must be transferred in full.

*Interest rate terms explained:

AER

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Tax-Free

Tax-Free means that interest is not subject to income tax.

First-Time Buyer Bonus

If you’re saving for a deposit on a home, in addition to the benefits detailed overleaf, we’ll give you an amount equivalent to 10% of the capital balance in your account when you complete a mortgage with us.

The maximum bonus payable is £2,500 and only applies to first-time buyers. For joint mortgage applicants, a bonus will be awarded for each holder of an account.