Your ‘1 Year Fixed Rate Cash ISA (13)’ is due to mature on 31 January 2022.
Thank you for saving with Darlington Building Society. Your ‘1 Year Fixed Rate Cash ISA (13)’ will mature into the new ‘1 Year Fixed Rate Cash ISA (29)’ from 1 February 2022 and the rate will increase to 0.55% (Gross§/AER#) fixed until 31 January 2023.
We would like to inform you that a member of our branch staff may call to discuss your options between 18 January and 10 February 2022.
You may wish to compare your current savings account with the new one below.
1 Year Fixed Rate Cash ISA (13)
1 Year Fixed Rate Cash ISA (29)
|Are withdrawals from or closure of the account allowed||120 days’ loss of interest if account is closed.|
Withdrawals not permitted.
|Withdrawal or closure permitted penalty free between 1 and 14 February 2022.|
120 days’ loss of interest from 15 February if account is closed.
Withdrawals not permitted from 15 February.
|Transfers out to a Darlington Building Society or other provider ISA||Yes subject to 120 days’ loss of interest||Transfers out to another provider permitted penalty free between 1 and 14 February 2022.|
120 day’s loss of interest from 15 February 2022.
|Transfers in from a Darlington Building Society or other ISA provider||Not permitted||Permitted between 1 and 14 February 2022 and when the product is on sale.|
§Interest is paid tax free provided ISA regulations and conditions are complied with.
# AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
Interest is calculated daily as per the terms and conditions set out in the Summary Box document which can be downloaded in the link below.
Please make sure you read and understand the terms and conditions for the ‘1 Year Fixed Rate Cash ISA (29)’ which are effective from 1 February 2022.
If you are happy for your matured balance to be invested in the ‘1 Year Fixed Rate Cash ISA (29)’ you need do nothing else as this will happen automatically and your account number will remain the same.
But, if you want to consider other options, then between 1 and 14 February 2022 you can:
- make a withdrawal and keep the remaining funds in your new ISA;
- if you haven’t used up your ISA allowance, add money to your ISA (you can do this at any time, not just during the date period above);
- transfer out your ISA savings to another Darlington Building Society ISA or other ISA provider;
- transfer your maturing funds to another Society savings account; or
- close your ISA.
To do any of these actions, simply visit, email or telephone your nearest branch (branch finder). You’ll need to return your passbook with details of how you would like to proceed between 1 and 14 February 2022. After this window, the normal terms and conditions for the ‘1 Year Fixed Rate Cash ISA (29)’ will apply.
If you don’t think this account is right for you, we have a variety of savings accounts for you to consider, including a 2 Year Fixed Rate Cash ISA. You can find out more by downloading the Summary Box below, or by getting in touch by email or phone.
Finally, if you think any of your contact details are out of date, please call your local branch so we can change them for you.