1 Year Fixed Rate Cash ISA (Issue 310)

• Apply online, in branch or agency
• Save from £500 to £20,000
• Transfer in your existing ISA
• Interest is calculated on your daily balance and paid on maturity or monthly
• Additional deposits permitted while the ISA remains on sale
• No withdrawals allowed before the end of the 1 year term
• Closure permitted subject to loss of 90 days' interest
• Limited availability

• Summary Box
• Calculate your savings
• Help & guidance 

Summary Box

	Summary Box
What is the interest rate?	Fixed maturity interest      5.05% Tax-free^ each year     5.05% AER† Fixed monthly interest      4.94% Tax-free^ each year     5.05% AER† (See the meanings of ‘Tax-free’ and ‘AER’ at the bottom of the page) Interest is calculated each day on the money in the account and paid: at maturity, on the anniversary of your ISA opening; or monthly, starting one month after the date your ISA is opened, and then each month after that; whichever you choose.
Can Principality change the interest rate?	No, the rate is fixed for one year until the ISA matures (when the account comes to an end).
What would the estimated balance be after 12 months based on a £1,000 deposit?	£1,050.50 This is based on you choosing to have interest paid at maturity and added to your ISA, and not making any further payments into the account
How do I open and manage my account?	You must be 16 or over and be a UK resident (see your 1 Year Fixed Rate Cash ISA account terms). You can open your ISA in branch, at an agency or online. If you want to open this ISA with funds from a Principality fixed term ISA that has matured, you can do this online, in branch, at an agency or by post. You must keep at least £500 (the minimum balance) in the account. You cannot pay in more than the ISA Allowance each tax year. The ISA Allowance for the current tax year (2023/2024) is £20,000. You can transfer unlimited amounts from ISAs from previous tax years, as these are not part of your current year’s ISA allowance. You must make the first payment into your ISA within five business days of it opening. If you don’t, we will close the account. You can keep making payments into your ISA while we are still offering this ISA to customers. Your ISA will mature after one year, on the anniversary of the account opening. You can manage your ISA in branch, at an agency, by post, or by using the online service, Your Account at principality.co.uk.
Can I withdraw money?	No, you cannot make withdrawals from your ISA before it matures. If you close or transfer your ISA before the end of the fixed-rate term (within one year), you will lose 90 days’ interest. If you haven’t earned enough interest to cover the 90 days’ interest it will be taken from the money in the account. This means you may get back less than you originally put in. We will write to you before your ISA matures to find out what you want to do with your money. If we don’t receive any instructions from you before your ISA matures, we will move your money to our Variable Rate Cash ISA or the nearest equivalent we offer at the time.
Additional information	Service charges and costs may apply to your ISA. These are set out in our Tariff of Charges. In certain circumstances we may refuse an instruction for using an account. These circumstances are set out in our Savings Terms and Conditions. The tax treatment of your savings depends on your individual circumstances and may change in the future. This is set by HM Revenue and Customs (HMRC). The interest rates quoted above were correct on 16/11/2023.

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1. The results displayed were dependent on the information you provided and are for illustrative purposes only and are by no means an indication of being suitable for your individual circumstances.
2. The calculations assume interest is paid gross* of income tax on the entire balance on an annual basis
3. It has been assumed that no withdrawals or additional deposits would be made from the account during the saving duration, and that the interest rate also remains the same during this time (note that interest rates on variable rate savings account are subject to change, and when fixed rate deals end, there is no guarantee that the same rate will be available in the future). 
   

Help & guidance 

Guides Read more for top tips on saving and answers to your savings and ISA questions.

Contact us If you would like to speak someone for help give us a quick call. 

Before you apply below, please read the 1 Year Fixed Rate Cash ISA Issue 310 Terms & Conditions

If you are transferring previous years' ISA subscriptions, please enter your initial deposit as £500 on the application form. The application form will ask you whether you are making a transfer later in the process.

You can only invest in one Cash ISA per tax year.

As you will be bound by the account terms of the ISA and your information is held in accordance with our privacy policy, you should read, print and save the below documents for your records. If you have any queries relating to them please contact us for further information.

• 1 Year Fixed Rate Cash ISA Issue 310 Account Terms and Product Summary Information
• Savings Terms and Conditions 
• Privacy Policy

Please also read the following:

• Basic information about the protection of your eligible deposits
• Electronic Verification Guide
• Tariff of Charges
• Your Information

Putting money into your savings account Once you've opened your savings account, for most accounts you should pay money in within 5 business days. Click here for information on how you can do that.

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