Apply for a Fixed Rate ISA today
Available until 01 August 2022. Please note that these issues may be withdrawn early due to limited availability.
Our Fixed Rate ISA
Choose a term that suits you – either one or two years.
Interest is paid directly into your account and is tax-free, helping your savings grow faster.
Have complete certainty over what your savings will earn with a fixed rate of interest.
We'll send you an email when your statements are ready to view in Online Banking. You can check it whenever you want.
Summary Box
Account name: Fixed Rate ISA
What is the interest rate?
Can Ednites Credit Union change the interest rate?
No, the interest rate is fixed. This means that the rate will not change between the date you open your account and the Maturity Date.
What would the estimated balance be at maturity based on a range of deposits?
How do I open and manage my account?
Your eligibility
You must be aged 16 years or over and resident in the for tax purposes.
You must
• Not have subscribed to another cash ISA (including a Help to Buy: ISA with another provider) or invested the maximum amount in any combination of permitted ISAs in the same tax year; and
• Hold the account solely in your name.
You can open and manage your account on our mobile app, online or by telephone.
To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.
We will need your email address and mobile number to open your account.
You can make payments in branch and by telephone. We will send you a certificate of deposit within 14 days of the Start Date.
Balance and ISA allowance
Your deposit must reach your account by 19 August 2022. You must deposit at least £1,000 (the “Minimum deposit”) by this date. There is no Maximum deposit and no maximum balance; however, there is a limit on the amount you can pay into your account each tax year (“ISA allowance”). This limit is set by the Government and may change from time to time. The ISA allowance is £20,000 for the current tax year.
If you pay in more than the limit any excess money will be returned to you.
If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other cash ISA except for a Ednites Credit Union Help to Buy: ISA.
Opening and managing your account
To make your initial payment into your Fixed Rate ISA, you will need to set the account up as a new payee, using the account number and sort code via your online banking. Following payments can be made through online banking, in branch and by telephone.
We will send you a certificate of deposit within 14 days of the Start Date.
Paying into more than one ISA
You can make payments to Help to Buy: ISA in the same tax year as a Ednites Credit Union Fixed Rate ISA provided that:
the Help to Buy: ISA is held with us;
you don't pay in more than the ISA allowance between the Fixed Rate ISA and the Help to Buy: ISA.
Transferring your ISA
You can transfer all or part of any ISA by completing an ISA Transfer form.
Key Dates
Can I withdraw money?
You can withdraw money from your account (in branch or by telephone) until 19 August 2022 at 3:30pm. Partial withdrawals are not permitted after this time. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice to your branch. An Early Closure Charge will apply, except in the event of your death. The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest. The Early Closure Charge will be deducted from the balance of your Fixed Rate ISA. The total amount you receive (including interest earned on your balance) will be no less than your deposit at the Start Date. For example, if you have earned 50 days’ interest you will only be charged an Early Closure Charge equivalent to 50 days’ interest. If you have earned 100 days’ interest you will only be charge an Early Closure Charge equivalent to 90 days’ interest. For more information on closing, please see the Fixed Rate ISA Terms (Term 8). On the Maturity Date (or if the Maturity Date is not a business day the next business day), we’ll convert your account to a Cash ISA. You’ll be able to access your money on the Maturity Payment Date. Please see Term 5 of the Fixed Rate ISA Terms for more information. You can transfer your ISA to another ISA manager. If the transfer is before the Maturity Date, we’ll convert your ISA to a Cash ISA and an Early Closure Charge will apply. If you want to transfer your ISA without incurring an Early Closure Charge the transfer must be dated at least the day after the Maturity Date, when your money is accessible. |
Additional Information
The interest payable on the money held in your account is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
Definitions
AER: Stands for the Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year.
Gross: The interest rate you are paid without the deduction of income tax.
p.a.: per annum (per year)
Statements at your fingertips
We'll send you an email when your statements are ready to view in Online Banking. You can check it whenever you want.
How do I get additional support with my banking?
Banking My Way is a free service that allows you to record information about the support or adjustments you need to make banking easier. You can also let us know any additional support you may need to ensure all of our colleagues are aware of this. The information will be shared on our internal systems and therefore you will not need to repeat these requirements every time you interact with us.
Once your account is open, you can record this through Online Banking or with our colleagues in branches or over the phone.
Get ready to apply
Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.
First things first. Please take a look at the important legal info:
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.
How your information might be used
It’s important for you to understand how we use and share your information Please read this short summary before you continue with your application.