Cash ISA

Cash ISA from the Scottish Building Society. What you need to know...

Who can open a Cash ISA?
Anyone who is 16 or over and resident in the UK for tax purposes.

How much do I need to open an account?
You can open a Cash ISA with a minimum of £1. However, if you wish to receive your interest monthly, you must invest a minimum of £3,000.

Can I add to my account?
You can add to your account whenever you like, at any branch or local office or by post. You can also pay by standing order if you wish. The only restriction is that you must not pay in more than the annual subscription limit of £5,100.

Can I draw my money out?
You can make withdrawals at any branch or local office or by post without notice, penalty or charges. Any withdrawals you make will not alter the tax-free status of your account.

How will I receive interest?
We will pay you tax-free interest on your Cash ISA balance in accordance with the rates shown on our Savings Interest Rates leaflet. Interest is calculated from the day after the Society receives your cash or cheque until the date of withdrawal and the amount of interest is calculated on the daily balance. If you opt for annual interest, this will be added to your account on 31 March each year. Or, if you prefer, the interest can be transferred to another Scottish Building Society account or paid to your bank. If you choose to receive your interest monthly, the interest will be paid to your bank at the end of each month - or you can choose to have it transferred to another account with the Society.

For more information on our Cash ISA please read the leaflet below.

Cash ISA leaflet

 

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