Fixed Rate Cash ISA - fixed until 05/04/2015
If you like your savings to be both simple and smart then our Fixed Rate Cash ISA could be for you. It’s simple because you open it with your cash ISA allowance for the 2013/2014 tax year*, and the taxman can’t touch a penny of your interest. It’s smart because while you’re out enjoying life, your savings can continue growing.
With our Fixed Rate Cash ISA there are no surprises. The interest rate is fixed at 2.05% tax-free*/AER* until 05/04/2015 so if you leave your tax-free* savings to grow, you’ll get a fixed amount when the account matures.
Existing Co-operative Bank current account holders
If you've got a Co-operative Bank current account, or interested in switching to The Co-operative Bank, you may be eligible to apply for our exclusive current account fixed rate ISA.
| Summary Box Key Product Information for our Savings Account |
|
|---|---|
| Account Name | Fixed Rate Cash ISA - fixed until 05/04/2015 |
| Interest Rates (AERs) | The minimum opening balance for this account is £5,760 if using 2013/2014 tax year’s allowance, or £1 if transferring previous tax years’ balances. The interest rate is fixed until 05/04/2015 |
| Tax Status | Interest is tax free* |
| Condition for bonus payment | No bonus payments exist for this Account |
| Withdrawal arrangements | Withdrawals or closures before 6 April 2015 will be subject to a charge equivalent to 180 days loss of interest at the fixed rate on the amount withdrawn The charge will be taken from interest earned but not yet paid; if you withdraw from or close your account before enough interest to cover this charge has been earned, the balance will be taken from the funds in your account. Withdrawals of capital cannot be replaced. |
| Access | Britannia branch and by post |
Features
- gives you a fixed rate of 2.05% tax free*, until 5 April 2015 will mature on 6 April 2015 when your money will be transferred into a variable rate Cash ISA (or equivalent)
- can be opened with your full cash ISA allowance for the 2013/2014 tax year (£5,760) and/or transfers from previous years’ cash ISAs with Britannia or other providers
- pays interest into your account after close of business on 5 April each year
- is issued with a passbook
This is a limited issue product and may be withdrawn without notice.
Are there any risks or restrictions?
- The Fixed Rate Cash ISA has a fixed end date. If you make a withdrawal or transfer out before the account matures, the withdrawal or transfer out will be subject to a charge equivalent to 180 days loss of interest at the fixed rate on the amount withdrawn.
- This is a limited issue product and may be withdrawn at any time.
- No further deposits are allowed into this account after the product has been withdrawn. A partial investment of a tax year’s allowance would prevent you from using the remainder of your cash ISA limit for that tax year, therefore if you wish to pay in for a tax year, you must use that tax year’s full allowance. This also means that subscriptions for future tax years cannot be made once the product has been withdrawn.
- Over time, inflation will reduce the true value of your savings.
- Whether general interest rates rise or fall, this cash ISA pays interest at a fixed rate.
Tax
Any interest on this product is paid tax free*. This depends on the individual's circumstances and may be subject to Government change in the future.
This is a limited issue product and may be withdrawn without notice.
Although Cash ISAs are a tax free way of saving, this favourable tax treatment depends on individual circumstances and may be subject to change in the future.
*For an explanation of terms, such as AER and Tax Free, please see our glossary 
.
Britannia, The Co-operative Bank and smile are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS). Find out more
Britannia is a trading name of The Co-operative Bank p.l.c.
The Co-operative Bank p.l.c. Registered office: P.O. Box 101, 1 Balloon Street, Manchester, M60 4EP. Registered in England and Wales No. 990937.
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