Minimum Deposit


Interest Rate (Gross)

Tax Free 4.15%

Interest Rate (AER)

Up to 4.15% AER


Max 2 a year to receive this rate

Designed for savers that:

Can save at least £25 per month

Want tax free interest

Can limit access to funds for a better return

Not designed for savers that:

Need frequent access to their savings

Want a fixed rate of interest

Are under the age of 18

Is this product right for you?

Product Summary

Account Name

Regular Saver ISA

What is the interest rate?

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 31st March. The interest rate bonus will be paid on providing that you have:

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

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

Can the Vernon Building Society change the interest rate?

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.

What would the estimated balance be after 12 months based on a £100 monthly deposit?

£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 1st April, and that the interest rate does not change.

How do I open and manage my account?


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 25th of the month to avoid late subscriptions.

ISA Transfers are not accepted.

Can I withdraw money?

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 (1st April to 31st March) the annual interest rate bonus will not be payable on 31st 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.

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


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.

Need some more information about ISAs?


It's easy to apply...

Apply in branch


Book an appointment to speak with one of our friendly advisers in-branch or over the phone.



Print and complete this form and email to: or post to your nearest branch.




0161 429 6262

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