Lock your money away for two years and watch your savings grow.
0.55% tax free/AER paid annually on balances £1 or more.
It’s a fixed interest rate. You can choose to have this paid monthly, or after 12 months on the date you opened the account.
No. This account has a fixed rate of interest so the rate won’t change during the term.
For example, if you deposit £1000.00 when you open the account, the balance after 24 months will be £1011.03.
You can’t make any withdrawals from this account, but you can close the account early. Bear in mind that if you close the account early or transfer money to another ISA, you’ll be charged the equivalent of 180 days’ tax-free interest. This means you may get back less than you put in.
Any money you move to an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in the future.
After the fixed term ends, your account will change to an Instant ISA Saver. See Instant ISA Saver interest rates (PDF). Before this happens, we'll contact you to explain your options and next steps.
Tax free means you will not pay income tax on your interest.
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our savings glossary.
You've a chance of winning one of 3 top prizes of £100,000, if you register and hold £5,000 in a qualifying account during the whole calendar month before the draw.