Fixed-Rate Bonds

Fixed-Rate ISA to 31st August 2025

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Product overview

Suitable for savers over 16 who want to save their money for a fixed period in exchange for a higher tax-free interest rate.

Don't miss out, this product has limited availability and may be withdrawn at any time.

Key features

  • This account is available to UK residents aged 16 or above.
  • This account does not allow Transfers In.
  • A minimum balance of £5,000 is required to open the account.

Product Summary

Account Name

Fixed-Rate ISA to 31st August 2025

What is the interest rate?

Annual Interest Gross Rate* Gross AER**
£5,000+ 2.25% 2.25%


Interest will be added to the account on 31st August each year. Interest is paid gross without tax deducted.

*The Gross Rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

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

Can the Vernon Building Society change the interest rate?

The interest rate is fixed until maturity on the 31st August 2025.

What would the estimated balance be after 12 months based on a £5,000 initial deposit?


This projection is provided for illustration only and does not consider individual circumstances. This calculation assumes the account is opened on the 1st August 2022 and closes on 31st August 2025.

How do I open and manage my account?

This account is available to UK residents aged 16 or above.

This account does not allow Transfers In.

A minimum balance of £5,000 is required to open the account.

You may make deposits up to the maximum Cash ISA subscription limit in the 2022/2023 tax year, additional funds may be added up to 14 days after the opening date of the account. The subscription limit is set by HM Revenue & Customs.

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

Future year ISA subscriptions cannot be made into this account.

You can open an account in-branch or download an application form from our website and email or post it to us. Additionally, you can manage your account in-branch or register for our Online Services.

Can I withdraw money?

There is no minimum withdrawal amount for this account.

Any withdrawals made from this account will be subject to a 180-day interest penalty. This will be deducted from the accrued interest, and where there is insufficient accrued interest, this will be deducted from your account balance. If you close your account, this means you may get back less than what you put in. Notice cannot be given to avoid this penalty.

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

This is not a Flexible ISA.

In the month of maturity, we will send you a Maturity Schedule outlining the options available at that time. If you wish to withdraw funds at term-end, you will need to complete this form and return it to the Society. On the date of maturity, unless you tell us otherwise, your investment will automatically transfer to a new 1 Year Fixed-Rate Bond. You will have 14 days to change your mind.

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

Additional 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 ISA’s may be subject to change in the future by Government and HM Revenue and Customs.

2 easy ways to apply

Apply in branch

Apply In Branch

Book an appointment at your local branch and speak to one of our friendly advisors

Apply online

Apply Now

Ready to apply? Download our application form here, complete it and email it to

Apply by phone

Got a question? Give us a Call

0161 429 6262

Monday - Friday

08:45 - 17:00

Need some more information about ISAs?

Help Centre

Got a question about savings?

Jump over to our savings help centre and see if we can answer it for you.

Help Centre

Savings Jargon Buster

There are a few considerations to make when opening a savings account, so we've explained as many terms as we can.


Financial Services Compensation Scheme

Did you know that your eligible deposits with the Vernon are protected up to a total of £85,000 (£170,000 for joint accounts) by the Financial Services Deposit Scheme (FSCS), the UK's deposit guarantee scheme?

Learn more about the FSCS