Cash ISA (Individual Savings Account)
|Summary Box - Key Product Information|
|Account Name||Cash ISA Account|
|What is the interest rate?||
Interest is calculated daily and added or paid annually on 5th April at close of business.
Monthly Interest option is available for balances in excess of £5000. The interest rate is reduced by 0.05%. Monthly interest must be credited to a nominated account other than this Cash ISA, the monthly interest is credited on the last working day of each month.
|Can Beverley Building Society change the interest rate?||
Yes, all of our interest rates are variable.
Refer to our Cash ISA and General Savings Terms and Conditions for full details.
|What would the estimated balance be after 12 months based on a £1,000 deposit?||
|How do I open and manage my account?||
Available to UK Residents and UK Tax Residents aged over 16.
Complete the application form, relevant declaration(s) and provide necessary identification then forward together with the initial deposit (payable to the account holder) to the Society's office.
The minimum opening investment is £1, and the maximum deposit per tax year is currently £20,000 (2017/18) set annually by HM Revenue and Customs.
This account can be managed by post and in branch.
|Can I withdraw money?||
Yes, one notice and penalty free withdrawal per financial year is permitted. As this is not a flexible ISA, any amount withdrawn cannot be replaced and will count towards your annual ISA subscription limit.
All other withdrawals available immediately with a 30 day loss of interest on the amount withdrawn or are subject to 30 days notice. Money must be withdrawn on the 30th day of notice, otherwise notice will be removed.You can make a withdrawal on demand of cash up to £500 and any amount by cheque or Faster Payment, subject to adequate cleared balance and written instruction signed by the relevant signatory(ies).
Refer to our Cash ISA and General Savings Terms and Conditions for more information on withdrawals.
Monthly interest is available on balances over £5,000 at a reduced rate but cannot be paid back into the ISA. Contact the Society for further details.
*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax liability**AER - stands for Annual Equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year