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2 Year Fixed Rate Cash ISA (15)
Tax-free saving and a fixed rate of interest that’s guaranteed for a fixed term.
Key featuresView summary box
- This account is exclusively available for existing ISA customers who have had an ISA with us for at least two months
- Apply for an account by post or at our Epsom branch
- Save up to £250,000
- Save up to the annual statutory limit of £20,000 for the 2021 / 2022 tax year, whilst the issue is available
- Tax-free interest earned from the day we receive your investment (subject to identification requirements being met)
- Fixed interest rate for the duration of the term
- Interest paid annually on 30 September and added to the account
- No withdrawals prior to maturity of the fixed rate term
- Transfer to another ISA provider or closure allowed, subject to Early Access Charges applying
The information provided below is a summary of the key features of the account and is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Accounts booklet.
Account summary box
What is the interest rate?
|Rate effective from 13 July 2021|
|Fixed for 2 years||Tax-free1AER2|
|Interest is calculated daily and added to the account annually on 30 September
Can the Family Building Society change the interest rate?
No, the interest rate is fixed
What would the estimated balance be after 24 months based on a £1,000 deposit?
|Opening balance||Projected balance (gross)|
How do I open and manage my account?
Can I withdraw money?
How can I make deposits?
- Additions are allowed for 15 calendar days after the account is opened. After this period no further additions are allowed. We reserve the right to return funds if you decide to invest more than the amount originally specified on your original application
- Additions to the account can be made by debit card, by transfer from your bank account, by cheque, by transfer from another account with us or by cash
- A minimum of £1,000 must be deposited to open the account
This product is not a flexible ISA.
This is a strictly limited issue and may be withdrawn at any time without prior notice.
1 Interest is paid tax-free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.
2 AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.
All financial information correct on 2 July 2021.
How to apply – Transfer of an existing Cash ISA only
You can apply to transfer an existing Cash ISA to a new Flexible ISA account in the following ways:
• By visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
• Request an application pack over the phone: Call us on 03330 140141
Please note, you can't apply online to transfer an existing Cash ISA into a new Flexible ISA if you are not adding new money as part of this year's ISA subscription. However, you will be able to manage your account online once it has been opened. If you are a new customer, you should wait to receive your new ISA account number from us before registering for our Online Service. Your account number will be sent to you once the transfer has been completed and your new account opened. If you already use our Online Service, you do not need to register again to view the account once it has been opened.
To transfer your existing Cash ISA to the Family Building Society, you will need to complete and send us both a Flexible ISA Application Form AND a Cash ISA Transfer Authority Form. We will then notify your current ISA provider so that the transfer can begin in line with their terms and conditions. The process can take up to 15 working days from receipt of an application form and transfer request form to the new account being opened. It varies depending on the speed with which your existing ISA manager responds to our request.
How to apply – Current year’s ISA subscription
You can apply to open a Flexible ISA account with money for this year’s ISA subscription in the following ways:
- By visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
- Request an application pack over the phone: Call us on 03330 140141
Please note, if you are a new customer to the Family Building Society, the verification code needed to use the Online Service to view and manage your account will be sent to you when your new account is opened.
If you are transferring an existing Cash ISA to the Family Building Society as well as adding money as part of this year’s ISA subscription, you will need to complete a Cash ISA Transfer Authority Form as well as a Flexible ISA Application Form (obtained either from your online application or the application we send you in the post). On receipt of these we will then notify your current ISA provider so that the transfer can begin in line with their terms and conditions. The process can take up to 15 working days from receipt of an application form and transfer request form to the new account being opened. It varies depending on the speed with which your existing ISA manager responds to our request.
Operating an account on behalf of someone else
This account is available for operation by Third Parties, Attorneys and Deputies. For information on how to set up any of these on your accounts please refer to our Help to manage your finances page where all the information you should need can be found.
If you have already set up Power of Attorney, a Deputy or Third Party and wish to open this account, please also refer to our Help to manage your finances page where you can find details of the forms we require. If you have any further account opening queries please contact our New Business Team on 03330 140141.
Use of a debit card to deposit savings
To add to your account using your debit card, you will need to register for our Online Service. You can’t use your debit card to add money to your account over the phone. Please note that the debit card you use to deposit money via the Online Service should be registered to the address we hold for you.
Debit card transactions are subject to approval by your bank and may be declined if you do not have sufficient funds available in your bank account or the transaction exceeds your bank's anti-fraud limits.
Call our expert UK team
Savings - 03330 140141
Mortgages - 03330 140140
Savings - 03330 140144
Mortgages - 03330 140146