Fixed Rate Anniversary ISA

If you prefer a guaranteed return over a set period of time, Fixed Rate Anniversary ISA is a great choice, offering a Cash ISA with a fixed rate of interest over a fixed term, tax-free. When you invest over the full term, you'll know exactly how much interest you'll earn.

The month in which you open your account becomes your 'anniversary month' each year. During this month, you can add to your investment, make withdrawals, close or transfer your account without losing any interest. You can't pay in any more money at any other time.

At the start of the anniversary month, your money is automatically invested into a new issue with a new interest rate that is fixed for a further 12 months. For example, if you opened your account in May 2011, your anniversary month would be May 2012, May 2013 ... and so on, until your account is closed.

Earn an attractive rate of tax-free interest.
A new fixed rate of interest is set each month so your account will always aim to offer good value.
During your anniversary month, choose to:
- Add your new tax year Cash ISA allowance to your existing Fixed Rate Anniversary ISA.
- Let your savings automatically be reinvested for a further term at a new fixed rate.
- Withdraw some of your money and leave the rest for another year.
- Close the account or transfer to another Cash ISA.
Minimum investment £100, maximum £5,340 in the 2011/2012 tax year. See ISAs explained for details.
Annual or monthly interest options available.
Withdrawal restrictions apply outside of your 'Anniversary month'.

Interest rates
Summary box
How to apply

How to apply

Interest rates

Current rates
(Effective 1 February 2012)

Balance (£)	Tax-free Annual Interest Rates		Tax-free Monthly Interest Rates
Balance (£)	Tax-free Tax-free means that interest is not subject to income tax	AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.	Tax-free Tax-free means that interest is not subject to income tax	AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
£100 and above	2.00%	2.00%	1.98%	2.00%

Interest rates are fixed for one year, paid annually or monthly.

Gross rate p.a.
Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.

Net rate p.a.
Interest rate payable after the deduction of income tax, at the lower rate of 20%.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

How to apply

Summary box

Key Product Information for our Savings Account

Account Name	Fixed Rate Anniversary ISA
Interest rates (AERs)	Interest rates are fixed for one year, paid annually or monthly, view interest rate.
Tax Status	Tax-free Tax-free means that interest is not subject to income tax
Conditions for bonus payment	n/a
Withdrawal arrangements	Unlimited withdrawals and closure during anniversary month permitted without loss of interest. Any other withdrawal or closure subject to 45 days loss of interest on the amount withdrawn, including transfers to another provider, subject to daily withdrawal limits.
Access	Branch or agency

Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.

How to Apply for a Fixed Rate Anniversary ISA

This savings account can be operated in various ways but must be opened at a branch or via the post.

Note: When applying for a YBS account you will need to verify your identity and address. Check our Verifying your Identity section for more details of what you may need to take with you.