Make the most of your annual cash ISA allowance - if you don't use it you will lose it!
It’s also important to remember that ISA allowance limits apply to everyone on an individual basis, so if you’re married or in a relationship, you can both hold your own ISA, each with the full allowance - see here for latest Cash ISA allowances
Shawbrook ISA Fixed Rate Accounts
With these ISAs you can deposit a lump sum and watch your savings grow, tax free, for a fixed amount of time. The key features of this account include:
- Fixed-rate term options including 1,2,3 and 5 years.
- A minimum opening deposit of £1000 for all Fixed Rate ISAs.
- The account can have a maximum balance of £2,000,000
- As these are ISA accounts, you can only put £20,000 into one of these accounts each year (assuming it is your only ISA account)
- As these ISA accounts are for fixed terms, you are not able to take your money out until the end of the term.
- See table above for interest rates
- You must be 18 and a permanent resident in the UK to open this account
- The interest rate is fixed, and the interest will be paid in gross at the end of the term.
- The end of the term is known as maturity. At the point of maturity, you’ll be notified by Shawbrook to let you know the end date is approaching.
Shawbrook Bank's Promise
Shawbrook Bank promises an easy banking experience with consistently good rates – just good service without the gimmicks.
Their promises include:
1. You can switch to their ISA.
When you switch your cash ISA, stocks & shares ISA or innovative finance ISA to Shawbrook Bank they will not wait for your current provider before paying interest. Shawbrook pay interest from day one of receiving your completed transfer application, as long as your funds are free to transfer.
2. Easy, informative service
You can open your account online and manage your account online. This means you can be kept up to date with your account. You will also be notified when your account term is nearing maturity.
3. Shawbrook offer consistent, competitive interest rates rather than attractive gimmicks
Shawbrook offer competitive rates on their ISA accounts. Within Fixed term ISAs you will generally have higher rates than with Cash ISAs. They offer lots of different terms which gives customers the flexibility to choose what suits them best. See the table above for the latest rates.