Maximise your tax free returns with our Limited Issue ISA (issue 2)

Tax Free/AER
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.
3.75% - 4.35% see rates
£1,000 - £9,999.99: 3.75% / 3.75%
£10,000 - £24,999.99: 4.05% / 4.05%
£25,000+: 4.35% / 4.35%
Notice for withdrawals
Some of our accounts require you to give notice before you can withdraw money from your account. Further details on the withdrawal restrictions that apply to the account can be found in the section titled - 'Can I withdraw money?' - in the Summary box.
no notice
Age restriction
Minimum or maximum age you must be to open this account.
16 years and over

This product may be withdrawn at any time.

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Key features

  • Tax free savings
  • Up to 3 withdrawals per calendar year without notice or change
  • Save up to £100,000 in your ISA

Summary box

Account name

Limited Issue ISA (issue 2)

When you’re ready to open your account, simply download and complete an application form.

What is the interest rate?

The tiered variable rates below apply from 19 August 2023

  • £1,000 - £9,999.99 - 3.75% Tax Free / AER
  • £10,000 - £24,999.99 - 4.05% Tax Free / AER
  • £25,000 plus - 4.35% Tax Free / AER

Interest is paid at the same rate on the whole balance of the account. 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 or decrease the tiered interest rates at any time. Further details of when we do this and how we will let you know, can be found in our Terms and Conditions for savings accounts, 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 balance after 12 months based on an initial deposit of £1,000 with an interest rate of 3.75% Tax Free / AER (variable) would be £1,037.60.

The balance after 12 months based on an initial deposit of £10,000 with an interest rate of 4.05% Tax Free / AER (variable) would be £10,406.11

The balance after 12 months based on an initial deposit of £25,000 with an interest rate of 4.35% Tax Free / AER (variable) would be £26,090.48

These estimations below are examples only and assume:

  • there are no additional deposits or withdrawals are made;
  • interest is paid gross and added to the account on 5 April; and
  • there is no change to the interest rate.

These estimations are only an example and do not take into account any individual circumstances. 

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 and over to open an account. Joint accounts cannot be opened. Only one account can be opened per customer. 

We will not allow you to transfer your balance from an ISA with another provider into this account. 

You can open a savings account at any of our branches without an appointment, or through the post by sending us a completed application form with a cheque payable to yourself for your initial deposit. Application forms can be posted to you on request, collected in branch, or printed from our website. 

The minimum amount to open this account is £1,000. The maximum amount that can be held in this account is £100,000. Opening balances made by electronic payment must be sent within 14 days of opening your account, or the account will automatically be closed. 

You must have at least £1,000 in your ISA to keep it open. Withdrawals taking your balance below £1,000 will only be allowed when you are closing your account. You can add money to your account by cash, cheque, through the post, or by standing order. 

The ISA allowance for this tax year is £20,000, which can be split between both Cash and Stocks and Shares ISA's. You can only pay into one ISA per tax year. Please note, we do not provide Stocks and Shares ISAs at the Tipton. 

The account is only available for UK residents and your National Insurance Number will be needed at the time of account opening. 

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?

Withdrawals can be made by cash, cheque or internal transfer. No electronic transfers, direct debits, faster payments, or standing order withdrawals are available. Standard branch limits apply.

Withdrawals and transfers to other ISA providers are limited to a maximum of three each calendar year without notice or charge. After your third withdrawal, further withdrawals, transfers out to other ISA providers, account closure and withdrawal of any interest will incur a charge of 90 days interest. If you have not earned enough interest to pay this charge, the difference will be taken from the balance in your ISA. 

Withdrawals taking you balance below £10,000 or £25,000 will result in a lower rate of interest, as noted in the 'What is the interest rate?' section above. 

We aim to complete transfers out within 5 working days.

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 your account that this isn't the right account for you, you can have your money back without charge. We'll arrange to close the account and return your money to you, or transfer it to another one 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.

The Tipton offer a range of savings accounts on a non-advised basis. There may be another savings account which is more suited to your personal needs. Please, speak to a member of the team for other product information. 

Tax-Free - 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. We’ll notify you if, by reason of any failure to satisfy the provisions of the ISA Regulations, an ISA has, or will, become void. Any tax due on interest paid will be debited to the account on closure. Where a break between subscriptions lasts for a whole tax year you must make a new application before you can continue subscriptions. None of the rights of the account holder in respect of the ISA may be assigned or used as security for a loan. Tax assumptions are based on current legislation. The favourable tax treatment may not be maintained as it is the Government that is responsible for the tax treatment. Cash ISAs can remain open following the death of an account holder but will be closed when the deceased’s estate is finalised. An account will cease to be a Cash ISA if the account holder becomes bankrupt. Where we are instructed by the member or HM Revenue & Customs to cancel an ISA due to breaches of regulations, any interest paid will not be exempt from tax.

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

Issued date: 19 August 2023

When you’re ready to open your account, simply download and complete an application form.

Ready to apply?

How would you like to apply?

How would you like to apply?

By Post

Apply by post

In Branch

Apply at one of our branches

Find a branch

Open account by post

Open account on our app

Open account online

Account Summary

Account name Limited Issue ISA (issue 2)
Tax Free/AER 3.75% - 4.35%
Notice for withdrawals no notice
Age restriction 16 years and over

Things to know...

  • Tax free savings
  • Up to 3 withdrawals per calendar year without notice or change
  • Save up to £100,000 in your ISA

How to apply

You must print off the following document and post it to our head office:

Tipton & Coseley Building Society,
70 Owen Street,
Tipton,
West Midlands,
DY4 8HG

Download application form

We can help you to...

  • Open a new account
  • Answer any of your questions
  • Discuss your savings options
  • Discuss your existing account
Gayle, from our savings team is happy to help 0121 557 2551*
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Great, lets go

If you would like to transfer your ISA into this account, please complete our ISA Transfer In Form.

Please post your completed form to The Tipton & Coseley Building Society, 70 Owen Street, Tipton, West Midlands, DY4 8HG, and remember to include a cheque payable to yourself.

Alternatively, you can open an account at any of our branches.

You should also read our Terms and Conditions for Savings Accounts leaflet and the Financial Services Compensation Scheme Sheet.

If you are a new savings customer then you must sign future windfall rights to our Charitable Foundation.

When you’re ready to open your account, simply download and complete an application form.


Our savings customers say...

"Whenever I visit Tipton & Coseley I'm dealt with quickly, on a one to one basis making each visit convenient and ideal." Mrs Cooke
Savings customer read more

Our savings customers say...

"The staff are really friendly and welcoming and always ask how I am, I feel like I can have a chat with them." Mrs Thomson
Savings customer read more