Easy Access Cash ISA

3.45% Tax-Free*/AER*

Interest is calculated daily and added to your account annually on the 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.

£1,034.50

This projection is provided for illustration only and does not consider individual circumstances. This assumes an initial deposit of £1,000, 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. From the date the account is opened, you have 14 days in which to change your mind and close it without affecting your eligibility to open a Cash ISA with another provider.

Managing the account

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

A minimum deposit of £100 is required to open the account. The maximum deposit is the Cash ISA subscription limit, currently £20,000 in any one tax year. The subscription limit is set by HM Revenue & Customs. You can transfer other ISAs into the account (see ‘Additional Information’ below).

Deposits can be made in branch by cash or cheque, standing order or online banking.

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 will be sent 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, some balance must remain to avoid it being closed.

This is a Flexible ISA, meaning you can withdraw funds from your account and replace them without it counting towards your annual allowance, so long as you replace the funds in the same tax year.

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

This account will accept transfers from ISAs that you have with other providers.

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

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

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.