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Cash ISA Fixed Rate Bonds

Tax-free limited Issue ISAs with fixed rates to help you get a guaranteed return on your savings.

1.40% tax-free p.a/AER[1] until 28th August 2020

Lock away your savings and watch them grow tax-free - Jump to footnote [1]

Cash ISA Fixed Rate Bonds are a great way to get a guaranteed return on your savings and plan for the future.

When you deposit your savings in a Cash ISA Fixed Rate Bond, you'll enjoy a fixed rate for the duration of the bond. This means you'll get a guaranteed return on your deposit - and all the interest is tax free[1].

With our straightforward application your account can be open in minutes.

UK residents only. Applicants must be 16 or over to apply. 18 or over to apply online.

Features of a Cash ISA Fixed Rate Bond

  • Interest rate fixed until bond matures - Jump to footnote [2]
  • Earn tax free interest - Jump to footnote [1]
  • Minimum deposit £10, additional deposits possible whilst products on sale up to maximum £20k (ISA subscription limit for 2019/2020)
  • Transfer your balances from other providers (previous tax year subscriptions) to one of our fixed rates

Early account closure or transfers will incur a charge. Partial withdrawals not permitted. Full T&C’s here (link opens in a new tab). Please see making withdrawals section.

Important information

UK residents only. 16+. Online 18+. You must hold a National Insurance number. Withdrawal charges apply, based on days until maturity. Deposits possible whilst product on sale up to £20,000 in each tax year (ISA Subscription limit). Interest is calculated daily and credited to the account on the last Business Day of August 2019 and annually thereafter until Maturity or on account closure.

Summary boxes

Account name Cash ISA Fixed Rate Bond Issue 53 – Maturity date 28th August 2020 - subject to availability
What is the interest rate?
Balance Gross Rate (%) AER (%)
£10 and over 1.40 1.40

Interest is calculated on a daily basis and is paid to the account on the last business day of August 2019 and annually thereafter until Maturity, or on account closure.

Can Clydesdale Bank change the interest rate? No. The interest rate is fixed when you open the Cash ISA – Fixed Rate Bond.
What would the estimated balance be at maturity based on a £1,000 deposit?
Term Initial deposit at account opening Balance at the end of the term
15 months £1,000 £1,017.50

This is only an example and does not take into account your individual circumstances.

The examples assume that:

  • no further deposits or withdrawals are made;
  • any interest earned stays in the account; and
  • there is no change to interest rates and tiers.
How do I open and manage my account?

The account can be opened in branch or online. You must be aged 16 or over.

Minimum deposit required to open and maintain this account is £10. The overall ISA limit for 2019/2020 is £20,000.

Can I withdraw money?

You cannot make part withdrawals from your Cash ISA – Fixed Rate Bond. If you choose to close or transfer your account before Maturity, a charge will be payable. The charge is dependent on the number of days to Maturity; further details can be found in the Terms and Conditions. Please note following the closure of a Cash ISA account where the funds have not been transferred to another ISA, the funds will no longer be eligible for the tax benefits of an ISA. ISA withdrawals have no effect on annual subscription limits as once you have reached the investment limit in any tax year you cannot make any further subscriptions in that tax year regardless of the number or amount withdrawn from your investment.

Additional Information

Tax free – interest is paid gross.

Gross rate interest is the interest payable without taking account of any tax payable.

AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

Can I transfer cash from another ISA?

If you already have ISAs with Clydesdale Bank or any other provider, you can transfer them to one of our Cash ISAs at account opening.

  • You can transfer any amount of previous tax years’ subscriptions or;
  • If you are transferring subscriptions from tax year 2019/20 they must be transferred in full and will be subject to the overall annual maximum limit of £20,000.
  • If you have a Clydesdale Bank Flexi ISA, read more about how to Transfer funds

How can I keep track of my savings?

After the Cash ISA Fixed Rate Bond has been removed from sale and the funding period has ended, if you have chosen to continue receiving paper statements from us then we will issue a statement to show the amount of your savings.

If you have already opted to 'Go Paperless' you can view your account by using the app or logging on to internet banking. If you register online for internet banking you will be able to see the current balance at any time throughout the term of your Cash ISA Fixed Rate Bond.

Can I make withdrawals?

The Cash ISA fixed rate bond is designed for savers who don't need to access their funds before the stated maturity date. If you withdraw your money before thatdate, you will have to pay an early withdrawal charge based on the number of days to maturity, and the account will be closed. Full details in the Withdrawals section of the terms and conditions.

Days to Maturity Early Repayment Charge
1-91 45 days’ interest
92-181 90 days’ interest
182 -273 135 days’ interest
Above 273 180 days’ interest

How do I deposit into my Cash ISA Fixed Rate Bond?

How do I deposit into my Cash ISA Fixed Rate Bond?

  • You can deposit funds into your account at any branch.
  • Payment from your Clydesdale Bank account or B Current account:
    • If you are registered for internet banking, you can make a payment into your account using the funds transfer option.
    • If you are not registered for internet banking, you can register online then complete your payment using the funds transfer option.

    Payment from an account with another provider:

    • You can make a payment directly from another bank account as long as you have the sort code and account number of your new Cash ISA Fixed Rate Bond. If you have forgotten them, please give our team a call on 0800 028 3632 .
    • You can also Transfer funds from another ISA account

Ready to Apply?

  • Aug 2020
  • 28

Maturity date

1.40% tax-free
p.a/AER[1]
  • Minimum deposit £10
  • Charges apply to early account closures or transfers. Partial withdrawals not permitted.
  • Interest is calculated on a daily basis and is paid on the last Business Day of August 2019 and annually thereafter until Maturity, or on account closure.
  • Issue 53

Once an ISA has been removed from sale, you have 14 days to complete saved applications and a further 14 days to deposit funds into your account.

[1] AER. Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year. The proceeds of an ISA are free from UK income tax and capital gains tax, provided all ISA conditions are met. The value of any tax benefits to you depends on your individual circumstances, the law and Her Majesty's Revenue and Customs (HMRC) practice which are subject to change.

[2] Before maturity we will write to you with details of available options. Unless you tell us otherwise, on maturity the Cash ISA FRB will be re-invested into a new Cash ISA FRB of a term closest in length to your original term.