Two Year Fixed Rate Maturity Cash ISA

Two Year Fixed Rate Maturity Cash ISA

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

Rate effective from 4 September 2024.

Interest is calculated each day on the money in your account and is paid on the anniversary of the account opening and 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.

• You must be 18 or over and a UK resident to have this account.
• You must provide your National Insurance number.
• You can open the account in branch, by post.
• You can switch to this product when your existing Saffron account has matured, you can do this on the mobile app or internet banking. You can do this up to 30 days before the maturity date of your existing product.
• You'll need to keep a minimum of £500 in your account to get the interest rate.
• The maximum amount you can pay into this account is £500,000.00
• You can manage the account in branch, by post, by phone, on webchat.
• No further funds can be added after the opening deposit.
• ISA Transfers from other providers are not accepted.

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.

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

Before the two 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, providing 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.