Triple Access Cash ISA
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|Account name||Triple Access Cash ISA|
|What is the interest rate?||
When will you get the higher interest rate?
The interest rate on your account will be the lower rate. However if 3 or less withdrawals are made during the calendar year, the interest rate applied to your account on the 31st December will be the higher rate instead. From the 1st January your interest rate will reset.
|Can Harpenden Building Society change the interest rate?||
Yes, we have the right to vary the rate of interest. If we decrease the interest rate, we will notify you 30 days in advance of the change.
Please refer to Condition 7 of our General Terms and Conditions for Retail Savings Accounts (available in our branches and our website) 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?||
|How do I open and manage my account?||
You must be at least 16 years old and a UK resident and hold a valid national insurance number to open a Triple Access Cash ISA. You may only hold one Triple Access Cash ISA with us.
This account can be opened on Harpenden Online via our website www.harpendenbs.co.uk, in one of our branches or by post.
Minimum balance: £1
Maximum balance: £250,000
Maximum yearly deposit limit current HMRC tax year allowance.
If you have an existing Cash ISA with the Society, this can be transferred to this account without affecting your annual allowance, to take advantage of this please apply in branch or by post as you will not be able to open the account using Harpenden Online.
Please follow the guidance in our ‘Identification Requirements’ document available in branch and online.
We accept ISA transfers from other providers into this account. You can only be subscribed to one Cash ISA with one provider in any tax year.
You can manage this account in our branches, by post or online (subject to the terms and conditions of Harpenden Online).
By Branch or Post: Deposits can be made by cash (up to £3,000 per day) and cheque or by bank transfer.
By Online: Deposits can be made by bank transfer only.
|Can I withdraw money?||
Yes, you do not have to give notice to make a withdrawal or close your account.
If you make 3 withdrawals or less during the calendar year, the higher rate shown above will be applied to your account on the 31st December.
If you make 4 or more withdrawals during the calendar year, the lower rate shown above will be applied to your account on the 31st December.
If you do make a withdrawal, the amount taken out cannot be replaced and will still count towards your annual ISA allowance (for that tax year). By taking money out of your Triple Access Cash ISA, you’re also giving up the tax-free benefits on the amount taken out. This means you might need to pay tax on any future interest you earn on that amount.
You will not be permitted to reduce the balance in your account to less than the minimum balance, unless you are closing the account. Withdrawals can be made by cash (up to £500 per day) and cheque, in our branches and by post, or via faster payment (up to £100,000, or above that amount via CHAPS).
This account is tax-free.
Any tax treatment and/or rates referred to are are those applying under current legislation, which may change and their availability will depend on your individual circumstances. The favourable tax treatment of Cash ISA’s may not be maintained.
The Society reserves the right to withdraw this product without notice at any time.
* The gross rate is the rate before deducting tax at the rate applicable to savings income. The annual equivalent rate (AER) is a notional rate which illustrates what the gross interest rate would be if the interest was paid and added to the account annually.
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