Account name
Branch ISA (Issue 5)
When you’re ready to open your account, simply download and complete an application form.
What is the interest rate?
The variable rate below applies from 19 August 2023.
- £100 plus - 3.85% Tax Free / AER
Interest is calculated daily and paid annually on 5 April.
When you’re ready to open your account, simply download and complete an application form.
Can Tipton & Coseley Building Society change the interest rate?
We may increase of decrease the interest rate at any time. Further details can be found in our Savings Terms and Conditions, available on our website, in branch or in your welcome pack.
When you’re ready to open your account, simply download and complete an application form.
What would the estimated balance be after 12 months based on a £1,000 deposit?
The estimation below assumes your account is opened on 6 April with an initial deposit of £1,000 and no additional deposits or withdrawals are made, interest is paid gross and compounded to the account on 5 April, and there is no change to the interest rate.
- The balance after 12 months based on an initial deposit of £1,000 with an interest rate of 3.85% Tax Free / AER (variable) would be £1,038.61
This projection is for illustrative purposes only.
When you’re ready to open your account, simply download and complete an application form.
How do I open and manage my account?
You must be aged 16 years to open an account. Joint accounts cannot be opened. Only one account per customer, at any one time.
Transfers in from other providers are permitted.
The minimum opening balance is £100.
You can open a savings account at any of our branches with no appointment needed. If you can't get to our branches then you can open your account by post, just send us your application form and a cheque payable to yourself for your opening deposit.
For opening deposits made by electronic payments, you must send your initial deposit within 14 days, or the account will be automatically closed.
To open a Branch ISA with us we will need your National Insurance number.
You must keep a minimum of £100 in your ISA for it to remain open. Withdrawals where you take your balance below £100 are only allowed when closing the account. The maximum deposit limit for this tax year is £20,000, which can be split between both Cash and Stocks and Shares ISA's. The maximum account balance is £100,000.
You can view your balance and recent transactions on the Tipton App, available in the Google Play Store and Apple Store.
When you’re ready to open your account, simply download and complete an application form.
Can I withdraw money?
You can withdraw from your Branch ISA without notice or charge, subject to our daily withdrawal limits. Transfers out to other ISA providers are also allowed without notice or charge.
Please note for any withdrawals from this account where the funds have not been transferred to another ISA, the funds will no longer be eligible for the tax benefits of an ISA.
When you’re ready to open your account, simply download and complete an application form.
Additional information
Interest is paid without tax deducted.
If you decide within 14 days of opening, that the account is not right for you, you can have your money back without charge. We will arrange to close your Branch ISA and return your money or switch your funds to another of our savings accounts.
If you cancel your ISA within this period you’re free to subscribe to another ISA in the same tax year. Any interest paid will be exempt from tax.
- Interest rates 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 is the contractual rate of interest payable where interest is exempt from income tax. Interest earned on ISAs is tax-free as long as the statutory conditions of the scheme are not breached. Tax treatment depends on your individual circumstances and may be subject to change in the future.
Issued date: 19 August 2023.
Please find our ISA Terms and Conditions here.
When you’re ready to open your account, simply download and complete an application form.
