Account name
Fixed Rate ISA to 31.08.23
When you're ready to open your account simply download and complete an application form.
What is the interest rate?
The fixed rate below applies from 16 July 2022:
£1,000 plus – 1.85% Tax Free / AER fixed until 31 August 2023.
Interest is calculated daily and paid annually on 5th April and on maturity. However if you choose to rollover your account upon maturity, your interest will be compounded to the account and therefore paid on 5th April at the end of the tax year.
When you're ready to open your account simply download and complete an application form.
Can Tipton & Coseley Building Society change the interest rate?
The interest rate on your account is fixed and won't change before the maturity date.
When you're ready to open your account simply download and complete an application form.
What would the estimated balance be at the end of the fixed rate term based on a £1,000 deposit?
The balance at the end of the fixed rate term based on a deposit of £1,000 with an interest rate of 1.85% Tax Free / AER (fixed) would be £1,020.98.
This estimation is an illustration only and assumes:
- the account is opened on 16 July 2022;
- there are no additional deposits or withdrawals made;
- interest is paid back into the account;
- the interest rate is fixed; and
- interest is paid gross on 5th April and again on maturity.
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 or over to open an account. Joint accounts can’t be opened. ISA transfers in are permitted.
Only one account per customer is allowed at any one time.
The minimum opening balance is £1,000. You must keep a minimum of £1,000 in your ISA for it to remain open.
You can pay in up to the annual ISA allowance. The allowance is set by the Government and for the current tax year is £20,000. The maximum operating balance is £100,000. This is a lump sum account so you cannot add more money to the account once it has been opened even if you have not contributed your full ISA allowance at account opening.
For opening deposits made by electronic payments, you must send your initial deposit within 10 working days, or the account will be automatically closed.
Accounts can be opened at any of our branches, there's no need for an appointment. 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. To open an ISA we need your National Insurance number.
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?
Transfers out in full are and early closure is allowed subject to a charge of 90 days interest on the account balance. If there is insufficient earned interest to cover the 90 day loss of interest then the difference will be taken from the balance in the account.
We'll contact you at least 14 days before your fixed rate period ends to give you details of your maturity options. If we don't hear from you before maturity, we'll automatically rollover your account to another Cash ISA account from our range which may include a new Fixed Rate ISA account. When we write to you we'll give you details of the account we intend to automatically rollover your maturity balance to.
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 ISA and return your money or switch your funds to another of our savings accounts.
Interest rates explained:
- 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.
This product may be withdrawn at any time.
Issue date: 16 July 2022
When you're ready to open your account simply download and complete an application form.
