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Promise ISA Issue 6

0.75% Tax-free^ p.a. / AER
(plus 0.50% conditional bonus per tax year)
  • Competitive variable interest rate
  • Access your money with 30 days' notice or immediately with a loss of interest
  • Apply in branch
  • Enjoy a bonus if you don't make more than 2 withdrawals per tax year
  • Save from £500
  • Interest is calculated daily and paid annually or monthly
Account Name - Promise ISA Issue 6
Interest Rates Account Balance Tax-free^ p.a. (variable) AER† (variable)
Without Conditional Bonus
Annual Interest£500 plus0.75%0.75%
Monthly Interest£500 plus0.75%0.75%
With Conditional Bonus
Annual Interest£500 plus1.25%1.25%
Monthly Interest£500 plus1.25%1.25%
See summary information
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  • We promise you an annual bonus every year

    A conditional fixed bonus of 0.50% is paid annually as long as you make no more than 2 withdrawals in a tax year.
  • You do not have to pay tax on the interest you earn

    You don’t pay UK Income or Capital Gains Tax on your ISA interest as long as you are eligible to open an ISA as set out in the ISA Regulations. Tax treatment depends upon your individual circumstances and may change in future.
  • Withdraw money with only 30 days’ notice

    You can access your savings by giving us 30 days’ notice by visiting your local branch or letting us know in writing. Alternatively, if you need access to your money immediately you can make a withdrawal subject to a loss of 30 days’ interest on the amount you withdraw.Withdrawals from your ISA cannot be replaced, Closure will count as a withdrawal.
  • Invest your 2015/16 ISA allowance or move your existing Cash ISA to us

    You can save from £500 to £15,240 (the current annual Cash ISA limit) where you are investing your 2015/16 ISA allowance.

    If you already have a Cash ISA with someone else, you could enjoy a better rate on those savings with Principality. We outline the simple steps to making a transfer when you apply.
  • Open your account in branch

    Once your account is open you can manage your account in one of our branches or by post, whichever you prefer.
  • Interest is calculated daily and can be paid annually or monthly

    If you choose to have your interest paid annually, interest is calculated daily and paid on the 6th of April every year. You can choose whether to add your interest to your Account, transfer it to another Principality account or have it transferred into another UK bank or building society account.

    If you choose to have your interest paid monthly, interest will be calculated daily and paid on the 6th day (or next business) day of every month.

Summary Box - Key Product Information for our Savings Account(s)

Account Name - Promise ISA Issue 6
Interest Rates Account Balance Tax-free^ p.a. (variable) AER† (variable)
Without Conditional Bonus
Annual Interest£500 plus0.75%0.75%
Monthly Interest£500 plus0.75%0.75%
With Conditional Bonus
Annual Interest£500 plus1.25%1.25%
Monthly Interest£500 plus1.25%1.25%

Tax status

Tax-free^

Conditions for bonus payments

Conditional bonus of 0.50% p.a. paid on 6 April in addition to the 0.75% AER core rate provided that no more than 2 withdrawals (closure will count as a withdrawal) are made per tax year.

Withdrawal arrangements

Withdrawals from or closure of your Account is permitted subject to 30 days' prior written notice or loss of 30 days' interest on the amount you withdraw, if you do not give 30 days' prior written notice.

Access

Apply in branch. Once opened can be operated in branch or by post.

Promise ISA Issue 6 Terms & Conditions

If you are only transferring previous years’ ISA subscriptions, please enter your initial deposit as £1 on the application form. We will advise you how to make your transfer at the end of the application process.

You can only open one Cash ISA per tax year.

As you will be bound by the Account Terms of the ISA, you must read them. If you do not understand any of the terms and conditions please contact us for further information.

We recommend that you print and keep a copy of these terms and conditions for your records.

Please also read the following:

Savings Calculator
£ can be from £500 to £80000
£ can be from £0 to £495
(Minimum duration is 1 months)

*Calculations are for illustrative purposes only and assume interest is paid tax-free^ on an annual basis.

For your 2015/16 ISA you can invest from £500 - £15,240.

 

To help us maintain our service and security standards, telephone calls may be monitored or recorded.

* Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year.

^Tax-free means the interest you earn is exempt from UK Income Tax and Capital Gains Tax. Tax treatment depends on your individual circumstances and may change in future.

Principality Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, reference number 155998.