Maturity Cash ISA

Maturity Cash ISA

The interest rate paid on the account will be paid as below:

Rate effective from 30 August 2024.

Interest is calculated each day on the available money in your account and is paid on 5th April every year.

The interest rate for this account is variable. This means we can change it at any time. You can find full details in our Savings Terms and Conditions.

If your account falls below the minimum balance, the interest rate we'll pay you will reduce to 0.05% Gross p.a/AER variable*.

This is based on no further money being paid in or taken out of the account and no change to the interest rate.

• This is a default product – it will be opened with funds from a Saffron ISA that has finished its fixed term.
• You must be 18 or over and a UK resident to have this account.
• You can open the account in branch, by post.
• You'll need to keep a minimum of £1.00 in your account to get the interest rate.
• The maximum amount you can have in this account is £1,000,000.00.
• You can manage the account in branch, by post, by phone, on webchat.
• Open with funds from a Saffron ISA that has finished its fixed term.
• No further funds can be added after the opening deposit.
• ISA Transfers from other providers are not accepted.

Yes, you can take money out of this account anytime, in line with our daily withdrawal limits. This means you can also close your account anytime.

You can transfer this ISA elsewhere, subject to your new provider's conditions, by contacting your new provider.

Our Savings Promises provide you with additional peace of mind, including penalty-free access to your money if your life circumstances significantly change (e.g. serious illness, redundancy, etc). For more information please click here or ask us.

Interest will be paid tax-free, provided your account meets HM Revenue & Customs (HMRC) ISA regulations.

If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax to HM Revenue & Customs (HMRC). For more information visit gov.uk.

* Interest Rate definitions: Gross is the interest rate without the tax deducted. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year.

New fraud rules from 7 October 2024 mean that with this product, you're eligibility to claim for fraud has changed. For more information please click here.

If we delegate any of our functions or responsibilities under this agreement to someone else, we will satisfy ourselves that the person or organisation we delegate to will be competent to carry out those functions and responsibilities.