No Notice Account

Interest Rates: No Notice Account
 Gross Rate* p.a.Gross Rate* p.m.AER†Minimum DepositNotice Period
£50,000+0.30%0.30%0.30%£1,000None
£10,000+0.20%0.20%0.20%£1,000None
£5,000+0.15%0.15%0.15%£1,000None
£1,000+0.10%0.10%0.10%£1,000None
Below £1,000+0.00%0.00%0.00%£1,000None
Read more about this account

8 Day Notice Account

Interest Rates: 8 Day Notice Account
 Gross Rate* p.a.Gross Rate* p.m.AER†Minimum DepositNotice Period
£50,000+0.40%0.40%0.40%£1,0008 days
£10,000+0.25%0.25%0.25%£1,0008 days
£5,000+0.15%0.15%0.15%£1,0008 days
£1,000+0.10%0.10%0.10%£1,0008 days
Below £1,000+0.00%0.00%0.00%£1,0008 days
Read more about this account

90 Day Notice Account

Interest Rates: 90 Day Notice Account
 Gross Rate* p.a.Gross Rate* p.m.AER†Minimum DepositNotice Period
£100,000+1.10%1.09%1.10%£1,00090 Days
£50,000+1.10%1.09%1.10%£1,00090 Days
£10,000+1.00%1.00%1.00%£1,00090 Days
£5,000+0.50%0.50%0.50%£1,00090 Days
£1,000+0.10%0.10%0.10%£1,00090 Days
Below £1,000+0.00%0.00%0.00%£1,00090 Days
Read more about this account

* Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. The payment can be made annually or monthly.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year.

Frequently Asked Questions

Contacting us

How can I contact you?

You can call our Customer Service Team on 0800 028 3746, Monday – Friday 8am-8pm and Sundays 10am-4pm. You can email us at deposits@hodge.co.uk. You can also visit us at our offices, at One Central Square, Cardiff, CF10 1FS between 9am-5pm Monday-Friday, or write to us at the same address.

How can I make a complaint?

You can email us, write to us or call our customer services department. Email us at deposits@hodge.co.uk, write to Hodge Bank, One Central Square, Cardiff, CF10 1FS or call our Customer Service Team on 0800 028 3746

Technical Queries

Can your website be used via a mobile phone?

Yes, our website and application form is fully compatible with mobile and tablet devices.

Which web browsers is your website compatible with?

Our website is compatible with the newest versions of the following web browsers:

Windows

  • Internet Explorer 11
  • Edge
  • Google Chrome
  • Mozilla Firefox

macOS

  • Safari 9+
  • Google Chrome
  • Mozilla Firefox

iOS

  • Safari 9.3+
  • Google Chrome

Android

  • Google Chrome

About Hodge savings accounts

What is a nominated bank account?

A nominated bank account is the account you register when you open your Hodge account. In order for us to keep your money safe, and protect against fraud, we only accept deposits from this account, and we will always transfer money back to this account, whether that’s interest payments, withdrawals or at maturity.

What is the current interest rate on your accounts?

Our current interest rates can be seen here, or you can call our Customer Service Team on 0800 028 3746 and we can confirm them for you.

What’s the minimum deposit I need to make to open an account with Hodge Bank?

The minimum deposit amount depends on the type of account you open with us. Our ISA minimum deposit is £1,000, Junior Cash ISA’s £500 and Fixed Rate and Notice Accounts £1,000.

Are there any age-restrictions on Hodge ISAs?

You must be an individual aged 18 or over and you must be resident in the UK (excluding the Channel Islands and the Isle of Man) for tax purposes.

How much money can be withdrawn from an ISA?

To access your account before the end of the fixed rate period, an exit fee will be charged. You can transfer all of your account at any time by writing to us, however there will be a fee for the withdrawal, details of which will be outlined in the Terms & Conditions of your account. Partial withdrawals are not available.

How many ISA’s can I have?

You cannot open more than one Cash ISA, one Stocks and Shares ISA and one innovative finance ISA in each tax year. Apart from that restriction, there are no limits on how many you can have. So if you opened one ISA every year for 10 years, you could have 10 ISA’s.

Can I roll my ISA allowance over into the next tax year?

No, if you don’t use it, you lose it.

How much can you invest in an Junior Cash ISA each year?

The tax year runs from 6th April to 5th April the following year. The 2017 – 18 ISA allowance is £4,128 which can be saved in any combination of cash, stocks and shares and/or peer-to-peer investments. Hodge only offers cash ISA’s.

How much can you invest in an ISA each year?

The tax year runs from 6th April to 5th April the following year. The 2017 – 18 ISA allowance is £20,000 which can be saved in any combination of cash, stocks and shares and/or peer-to-peer investments. Hodge only offers cash ISA’s.

What is the difference between a variable and fixed rate account?

A variable rate offers you a rate of interest that can go up and down. With a fixed rate, you know in advance what your interest rate will be over your selected account term.

What type of products do you offer?

We offer a range of deposit accounts, you can find a full list of our accounts here.

Applying for a Hodge Bank account

I have sent you additional information but have not heard anything back from you.

Please call our Customer Service Team on 0800 028 3746 to check we have received it.

How do I get my documents back if I have sent them to you?

We will return your documents via the same method you provided them to us.

Do I need to submit any ID when I apply?

No. We undertake electronic searches to establish your identity as part of your application. If we are unable to positively establish your identity from these searches we will ask for you to provide us with further proof of your identity and proof of address, and we will tell you what types of proofs we accept.

I have not heard anything from you regarding my application.

Please call our Customer Service Team on 0800 028 3746 and we will check your application status.

What happens once I’ve completed the application form?

If you apply online, we aim to give you an immediate decision, or tell you if we need additional information. If you apply by post we will give you a response in writing.

Can I open a Power of Attorney, or Court of Protection account?

You can. Select the product you wish to open, then download an application form. Return the form to us along with the Power or Attorney or Court of Protection document. Alternatively, call our Customer Service team on 0800 028 3746 and we can post an application from to you.

Can I apply if I have a PO address or BFPO address?

You can apply, using our application form downloaded from the relevant product page.

How long does it take to apply for an account ?

Applying online takes around 8 minutes. If you apply by post, we will let you know our decision within 5 working days. You can contact our Customer Service Team for an update.

How do I open an account?

You can open most of our accounts online, and all of our accounts by downloading an application form. We can send you an application pack by contacting our Customer Service Team. You can find more information on how to apply once you have selected a product on the website.

Can you recommend a product for me?

We are not able to advise which product is best for you, however we can help you with any questions you may have about our products. You can find our full range of products here, and if you have any questions about the products please contact our Customer Service Team on 0800 028 3746, or email us deposits@hodge.co.uk.

Funding your Hodge Bank account

Can I make additional deposits to my Fixed Rate ISA ?

If you apply online, you can make additional deposits within 10 days of the account opening date. If you apply by post, no further deposits are permitted once your account is open.

Can I make additional deposits to my Fixed Rate Savings account?

There are several ways you can fund your account. If you post your application form to us, you will need to include a cheque with the application. If you apply online, you can select the payment method you would prefer or pay through your nominated bank account and the funds must be deposited within 10 days of the account opening date. You may be able to make additional deposits after the initial 10 days – the account Terms & Conditions will confirm if this is possible.

Can I make additional deposits to my Notice account?

You can add deposits, as long as they come from the same bank account as the original deposit.

Who do I make my cheque payable to?

You make your cheque payable to ‘Hodge Bank Re Your Name’, so for example ‘Hodge Bank Re Mr Alan Jones’.

How do I fund my account?

There are several ways you can fund your account. If you post your application form to us, you will need to include a cheque with the application. If you apply online, you can select the payment method you would prefer or pay through your nominated bank account and the funds must be deposited within 10 days of the account opening date. You may be able to make additional deposits after the initial 10 days – the account Terms & Conditions will confirm if this is possible.

Operating your Hodge Bank account

Can I manage my account online once I have set it up?

We are developing online account servicing, and we will confirm to you when this becomes available. Until then, our Customer Service Team can help with any queries or changes to your account.

When will I receive a statement?

We send statements quarterly on No Notice and Notice Accounts, and annually for ISA’s and Fixed Rate Deposit accounts.

How can I check my balance?

You can check the balance of your account by calling our Customer Service Team on 0800 028 3746.

How do I close my account?

You can close your account in accordance with the Terms & Conditions. You will need to write to us at Hodge Bank, One Central Square, Cardiff, CF10 1FS, or contact our Customer Service team on 0800 028 3746.

How do I make changes to my account?

Contact our Customer Service Team on 0800 028 3746 and we will advise you.

Interest rates and payments

What is AER?

AER stands for Annual Equivalent Rate. It shows the rate of interest a saver will receive over a year, on the assumption that the cash is left in the account for the full year without any withdrawals.

What is compound interest?

Compound interest is interest paid on the initial principle as well as the accumulated interest on money you have invested. You earn interest on the money you deposit, and on the interest you have already earned.

What is the difference between gross and net interest rates?

The gross interest rate is the amount of interest you will earn before income tax is deducted. Following the introduction of the new Personal Savings Allowance in April 2016 , all interest is now paid gross. Basic-rate taxpayers can earn £1,000 of savings interest without paying any tax on it. Higher-rate taxpayers can earn £500. All Hodge accounts are paid gross, however you may be liable to pay tax on interest in accordance with HMRC guidelines.

Where will my interest be paid?

Your interest will be paid into your Hodge account, or to the bank account from which the deposit was originally made. You can choose which you would prefer.

When will my interest be paid?

Your interest, if paid annually, is on on the anniversary of account opening of your account and at the end of the term.

Your interest, if paid monthly, is paid on the last working day of the month , monthly thereafter and at the end of the term.

If your account term is one year or less, then your interest will be paid at the maturity of your account.

What is the current interest rate on your accounts?

Our current interest rates can be seen here, or you can call our Customer Service Team on 0800 028 3746 and we can confirm them for you.

FSCS

Are my savings protected?

The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation fund set up to protect customers.  Your deposits with Hodge Bank are protected under this scheme up to £85,000.  You can read more about it here.

Tax

How much tax will I pay on my savings?

Every basic rate taxpayer in the UK has a Personal Savings Allowance of £1,000. This means the first £1,000 of savings interest earned in a year is tax free. If you are a higher rate taxpayer (40%) then your allowance is £500.

When does the tax year run to?

The tax year runs from April 6  to April 5 in the following year.

Transfer your ISA

Why choose Hodge?

Doing the right thing is what we aim to do in all areas of our business – it guides our decisions.

Both as a lender and as a savings bank, at Hodge Bank we take a steady and controlled approach to doing business. This long-term view – avoiding short-termism – is coupled with a solid reputation for looking after our clients. Hodge Lifetime is a business dedicated to the retirement market since 1965 and throughout that time we’ve been at the forefront of innovation in our core retirement lending markets.

Our depth of experience, values and reputation means we are a business that you can rely on.

We do the right thing with regard to having a social responsibility too. The Hodge Foundation, a charity supporting the welfare, medical, academic and educational areas owns over 75% of our business. This drives us, knowing that by helping our customers to achieve their goals, we are also helping good causes that are important to us.