Hodge Bank currently provides a Fixed Rate Cash ISA offering fixed rates for between one and five years.
Access to your funds is free at the end of the fixed rate period. You can however choose to access your funds sooner, though this will be subject to an early exit fee. You should note that additional deposits are not permitted during the fixed rate period, even in subsequent tax years, and the minimum opening balance is £5,000. The interest can be credited to the account or transferred to your external bank account from which the capital sum originated.
Transfers of existing Cash ISAs are accepted to our current fixed rate offerings, 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.
Please note that Variable Rate ISAs are not currently available from Hodge Bank.
|What is the interest rate?||
|Can Hodge Bank change the interest rate?||Not during the term of the product.|
|What would the estimated balance be after the relevant term based on £1000 deposit and the interest compounded to the account?||
|How do I open and manage my account?||You can open your account by post and can manage your account by post, telephone or e-mail. The minimum deposit for an ISA is £5,000.00.|
|Can I withdraw the money?||
Yes at the maturity of the account.
Early withdrawl will incur a penalty fee equivalent to the number of days loss of interest as indicated below according to the product term.
|Additional information||You can only subscribe to one cash ISA in a any tax year.|
Current ISA Subscription Limits
With effect from 6th April 2016, the ISA subscription limit remained at £15,240 for anyone eligible to invest in an ISA.
The full £15,240 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.