Cash ISA - Simply ISA
A cash ISA is an individual savings account. The main difference between this and other forms of savings accounts is that the interest you earn with an ISA is tax-free.
It’s a great way to save and nothing could be simpler to set up. You can start with as little as £1!
What is the interest rate?
|Tax-free PA %||*AER % (Tax-free)|
Variable rate of interest paid annually.
Interest is calculated on a daily basis and is added to your account annually on 5th April. Alternatively it can be paid directly to your bank account or another Harpenden Building Society account.
*AER stands for annual equivalent rate and illustrates what the rate of interest would be if interest was paid and compounded once a year.
|Can Harpenden Building Society change the interest rate?||
We have the right to vary the rate of interest. When interest rates reduce, and the change is material, we will personally tell you about it before we make the change.
Please refer to Condition 7 of our General Terms and Conditions for Retail Savings Accounts which sets out the reasons for which we may change the rate and the procedure for doing so.
What would the estimated balance be after 12 months based on a £1,000 deposit?
We have worked this out assuming a £1,000 deposit is made on account opening and no further deposits or withdrawals are made throughout the year.
|How do I open and manage my account?||
You must be aged 16 and over to open a cash ISA.
This account can be managed in branch or by post. Complete the application form on this page and drop it into one of our branches or use our freepost address, FREEPOST SB165, Harpenden Building Society, 14 Station Road, Harpenden, Herts, AL5 4BR.
Minimum balance: £1+
You can deposit into your account on an annual basis, up to the maximum annual tax year subscription amount (subject to ISA regulations). Click here for further details on annual subscription amount and how Individual Savings Accounts work.. Any increases in ISA subscription limits will be applied in each applicable tax year.
If you are a new customer then we will need proof of your identity. Information regarding our identification requirements can be found in our leaflets Identification Requirements - getting to know you, which is attached to this page.
When making cheques payable to Harpenden Building Society you should also include the name of the person(s) into whose account the money is being paid (e.g. Harpenden Building Society - Account holder's name).
Cash (up to £3,000 per day) or cheques can be paid in over the counter.
Cheques can also be paid in by post.
You can ask your bank to arrange a direct transfer once the account is open.
To operate this account you can communicate with us in branch, by post or online (subject to the terms and conditions of our Online Services).
|Can I withdraw money?||
This account is an instant access account and withdrawals may be made without notice or penalty. You can make withdrawals using the following methods:
Up to £500 cash per day over the counter. By cheque over the counter or by post.
Faster Payment in branch up to £100,000/CHAPS above that amount, Faster Payment using Online Services up to£10,000 per day (see Online Services Terms and Conditions available on our website).
Any tax treatment and/or reliefs referred to are those applying under current legislation, which may change, and their availability will depend on your individual circumstances.
The favourable tax treatment of Cash ISAs may not be maintained.
The information contained in this table forms part of the terms and conditions of the account and should be read in conjunction with our General Savings Account Terms and Conditions for Retail Savings Accounts.