Guide to Fixed Rate Cash ISAs
Here’s everything you need to know about Cash ISAs to help you decide if they’re right for you:
Pros and cons
- You can save up to £20,000 in a Cash ISA
- You can transfer current ISA savings from another provider into your Secure Trust Bank Cash ISA
- You’ll know exactly how much you’ll get back at the end of the term
- If interest rates increase you won't benefit
- You can only pay into one Cash ISA in each tax year
How they work
You can make a payment into your account by electronic payment from your Nominated Account.
If we cannot electronically verify that funds have been sent from an account in your name, they will be returned.
You can also transfer in previous and current tax year subscriptions from another ISA provider. To do this, fill in the transfer instructions when you apply.
We have made paying in simple - just send a payment to the account number and sort code provided.
- BACS transfer will reach your Secure Trust Bank account three working days from the transaction date
- Faster Payment should be in your account within 24 hours
We do not allow partial withdrawals. If you need to take money out, you may withdraw the whole balance by closing your account.
If you decide to close your account before it matures, we make an 'early access charge' of a certain number of days' interest. Check the summary box for full details.
If there isn't enough earned interest to cover the charge, then we take it from the balance in the account.
To open an account you’ll need a Nominated Account. This must be a UK current account that we can electronically verify is in your name.
You’ll use this account to make payments as well as accept withdrawals and interest payments, so it's important that your Nominated Account uses an identical account number and sort code for money in and money out.
Enjoy the flexibility of all-hours access to your account when you register for Internet Banking.
Statements are provided via Internet Banking, with the ability to download and print or the option to change to paper if required.