cash isa
Do you want to earn tax-free interest on your savings?
Click here for the summary box - key product information for this savings account.
If you want to earn tax-free interest on your savings, a cash ISA could be for you. You can open our cash ISA savings account with as little as £1 and pay in up to £5,340 in each tax year. Providing you meet the ISA conditions, your interest will be paid gross (without deducting income tax).
If you need access to your savings, you can give us 30 days' notice to withdraw money from our cash ISA without losing any interest. Plus we pay one attractive rate of interest, even if you only have £1 in your account.
So if you want to make the most of tax-free savings, take a look at our cash ISA account.
What are the full terms and conditions?
- Account name:
- Cash ISA
- Minimum amount to open the account:
- £1.00
- Investment conditions:
- You can open this cash ISA with as little as £1. Including the amount you open the account with, you can pay in up to £5,340 in the tax year in which you open the account.
In following years, you can pay in between £1 and £5,340 each tax year. Once you reach the maximum yearly limit you cannot pay any more money into the account (including money to replace any withdrawals you have made) until the next tax year. - Withdrawal conditions:
- You can give us 30 days' notice to withdraw money or close the account, without losing interest. If you choose to make an immediate withdrawal, or you do not give us the full 30 days' notice, you will lose 30 days' interest on the amount you withdraw.
- Interest payment:
- Interest will be paid gross (without deducting income tax) providing you meet the ISA regulations.
Interest is calculated daily and added to the account on 31 March each year. It can be added to this account, transferred to another of our savings accounts or into your bank account. - Eligibility:
- You must be over 16 to open this account and it can only be opened in your name. Joint accounts are not allowed.
- Other features:
- Every adult has an annual ISA investment allowance of £10,680. You can save up to £5,340 of that allowance in cash with one provider. You can invest the rest of the £10,680 in a stocks and shares ISA with either the same provider or a different one.
You can invest in two separate ISAs each tax year; a cash ISA and stocks and shares ISA.
At the moment the Government have no plans to stop offering ISAs.
The Government cannot guarantee the favourable tax treatment of ISAs and the situation may change in the future.
Transfers-In from other ISA Managers - On receipt of a transfer instruction from you we will forward it to the old ISA manager, together with a confirmation that we will accept the transfer, within 5 business days of the date of receipt, and on receipt of the cash and accompanying information from the old ISA manager, we will credit the cash to the ISA account within 3 business days of the date of receipt.
Transfers-Out to other ISA Managers - On receipt of a transfer instruction from another ISA manager we will send the cash and accompanying information to the new ISA manager within 5 business days of receipt of the instructions. The transfer authority from the new ISA manager should clearly indicate whether or not you want to serve any relevant notice/penalty period.
You should make sure that you understand all of the terms and conditions of this account.
You can ask us for more information about these. - Notes:
- The Financial Services Authority is the independent financial services regulator. It says that we, Darlington Building Society, must give you this information to help you decide whether our cash ISA is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe to refer to in the future.
Current interest rates
| Amount | Gross | Gross AER # | Net |
|---|---|---|---|
| £1+ | 1.70% | 1.70% | N/A |
Please make sure that you have read and fully understand the full terms and conditions before you decide to open this account. If you need any further information please telephone 01325 366366, email sales@darlington.co.uk or contact your local branch.
You should also read our general terms and conditions which you can download to the left of this page and which also form part of the terms and conditions of this account.
We are part of the Financial Services Compensation Scheme.
# - A.E.R. stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
