Important Messages
Opening hours
The Society will open at 10am on Wednesday 16 April. We apologise for any inconvenience this may cause.
Opening hours
The Society will open at 10am on Wednesday 16 April. We apologise for any inconvenience this may cause.
Our One Year Loyalty ISA allows you to re-invest a lump sum from a Saffron account that has reached the end of its term for a further year with a fixed and tax-free interest rate. You can also add new ISA funds.
This account can be withdrawn at any time.
We use your data in line with our Privacy Policy, which includes the potential consequences of third parties using your data.
You can select this account online:
To switch to this product when your existing Saffron account has matured, you can do this on the mobile app or internet banking. Login to your account, click on the ‘View Account’ button next to the relevant account and then select ‘Set Maturity Instruction’. You can do this up to 14 days before the maturity date of your existing product.
One Year Loyalty ISA
The interest rate paid on the account will be paid as below:
Minimum balance | Interest | Tax-free p.a./AER* |
£500.00 | Annually | 4.35% |
Rate effective from 26 February 2025.
Interest is calculated each day on the money in your account and is paid at the end of the fixed term.
The interest rate for this account is fixed for the term and can't be changed.
If your account falls below the minimum balance, the interest rate we'll pay you will reduce to 0.05% Gross p.a/AER*.
This is based on no further money being paid in or taken out of the account and no change to the interest rate.
Balance | Tax-free p.a./AER* | Balance at 12 months |
£1,000.00 | 4.35% | £1,043.50 |
No, you can't take money out of this account. You can close your account within the fixed term but you will lose 180 days' interest deducted from the capital balance.
If you close your account having paid some or all of your annual ISA allowance in, you can't open another Cash ISA at Saffron within the same tax year.
Saffron Building Society is not a Flexible ISA provider. This means you can't replace the money you have taken out, before the end of the same tax year, without it affecting your annual ISA allowance.
You can transfer this ISA elsewhere, subject to your new provider's conditions, by contacting your new provider.
Before the one year term ends we'll contact you to let you know. Your account will change to the Maturity Cash ISA account, which will have a different interest rate. The account number won't change. If you want to switch to a different account, we'll tell you how to do this in the maturity pack that we'll send you.
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: Tax Free 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.
Where the Savings Terms & Conditions are inconsistent with the account-specific rules and criteria, these account-specific rules and criteria will apply and will take priority.
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