ISAs

Tax free savings allowing you to make the most of your money

The last thing you want is the taxman to take part of your hard-earned interest. An ISA (Individual Savings Account) is the collective term for the tax free savings accounts specially introduced by the Government.

Hodge Bank offers a Cash ISA to ensure you are able to receive a rate of interest which over the years will help build your savings totally free of tax.

Our Cash ISAs are not Stakeholder standard products. An explanation of Stakeholder standards is provided in the Terms & Conditions (available upon request), together with further important information about ISAs.

Please note that only Junior Cash ISA Variable Rate accounts are currently available. Fixed Rate ISAs are available and current rates can be viewed on the interest rate table.

Current ISA Subscription Limits

With effect from 6th April 2017, the ISA subscription limit increased to £20,000 for anyone eligible to invest in an ISA.

The full £20,000 of the new ISA allowance can be saved in a cash ISA or a stocks and shares ISA with one provider. It can also be split between a cash ISA and a stocks and shares ISA with either the same or another provider.

Please note Hodge Bank does not provide a stocks and shares ISA.

Junior Cash ISAs (JISA)

Hodge Bank offers a variable rate Junior Cash ISA with a minimum opening balance of £500. Additional deposits can be made each tax year up to the Junior Cash ISA allowance. The annual limit for the 2014/15 tax year is £4,080.

No withdrawals can be made until the child reaches 18. However, the account can be transferred to another Junior Cash ISA manager subject to 90 days notice of the transfer.

Transfers of existing Junior Cash ISAs are accepted to our current variable rate offering, though these should be sent directly to us by bank to bank payment so as to ensure your tax free status is not affected. You should check with your existing provider to see if there are any charges or notice periods should you decide to transfer to us.

Current ISA Subscription Limits

With effect from 6th April 2017, the Junior ISA subscription limit increased to £4,128 for anyone eligible to invest in a Junior ISA.

The full £4,128 of the new ISA allowance can be saved in a cash ISA or a stocks and shares ISA with one provider. It can also be split between a cash ISA and a stocks and shares ISA with either the same or another provider.

Please note Hodge Bank does not provide a stocks and shares ISA.