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Cash ISA

Features

Instant Access e-cash ISA provided by Scottish Widows Bank   Tax free savings   No hidden costs or charges   Consistently good interest rates   Interest is calculated on a daily basis   Covered by the Financial Services Compensation Scheme guarantee. (See brochure for further details)   Scottish Widows has an ‘A Strong’ Standard & Poor’s financial strength rating

Current Interest Rate

2.5% (AER Variable) – Instant Access (Tax Free).

Minimum Investment Amounts

£10 Lump sum or £10 per month

Maximum Investment Amounts

The cash ISA limit is £5,340 for all investors aged 16 and over for the 2011/12 tax year, rising to £5,640 on the 6th April 2012.

Term

Instant access

Charges

None. No hidden costs or charges

Exit Penalties

None. No notice period or penalties for withdrawals

Transfers Allowed?

Yes. You can transfer current or previous cash ISA’s into this ISA. To transfer existing ISA’s please complete an application form

How to Apply

ISA’s Explained

Individual Savings Accounts (ISAs) are a popular and simple way to save and you don't pay any personal income tax or capital gains tax on any profit you may make. Individual Savings Accounts were introduced by the government in April 1999 and for many people have become a suitable and flexible medium or long-term savings plan.

In 2008 the Individual Savings Account rules were simplified and include the following changes:

• The titles ‘Mini’ and ‘Maxi’ ISA’s were abolished.
   
• ISA savers can instead invest in two separate Individual Savings Accounts each tax year; a cash ISA and a stocks and shares ISA.
   
• You can transfer any amount of savings in a cash ISA from previous tax years to your current tax year's stocks and shares ISA without it affecting your overall annual allowance.
   
• Any money saved in a cash ISA in the current tax year can also be transferred to a stocks and shares ISA. If you do, you must transfer the whole amount.
   
• You cannot transfer a stocks and shares ISA into a cash ISA. You can however transfer your existing stocks and shares ISA into the stocks and shares ISA of another ISA manager.
   
• If you require any further information on Individual Savings Accounts please visit our Frequently Asked Questions or contact us.