Because of the tax-free nature of Cash ISAs, the interest rates are very attractive. And with ISA Plus, we also guarantee that the interest rate will be no less than 1% below the Bank of England base rate. Interest is calculated daily, based on the balance in your account and is paid on 31 March each year.
You do not have to provide details of interest earned on your ISA Plus when completing a tax return.
You can make an instant withdrawal or close your account instantly. There will be no charge and interest will continue to be earned tax-free up to the day immediately before the withdrawal. The minimum you can withdraw is £10.
If you open and pay money into ISA Plus in any tax year, you will not be able to open another Cash ISA in that tax year. You can, however, take out a Stocks and Shares ISA in that tax year.
Also, if you have taken out an ISA Plus in one tax year and continue to pay money into it during the following tax year, you will not be able to open, or pay into, another Cash ISA in that tax year. See ISAs explained.
If you change your mind, you can close your account without notice or loss of interest within 14 days of the date of us receiving your ISA Plus application. Any interest earned will, however, be subject to tax. Your investment will be sent back to you within seven days.
Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, loans, mortgages and more.
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Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).