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Cash ISAs (tax free savings accounts)

Make the most of your Cash ISA allowance

The maximum amount you can invest in the current tax year 2017/18 is £20,000. You can choose to invest your full allowance into a cash ISA, a stocks and shares ISA or an innovative finance ISA or any combination of the three.

Alternatively you can split your allowance by investing up to £4,000 in a lifetime ISA and the remaining allowance between any combination of the other three types of ISA, as long as you don't exceed £20,000 in total across your ISAs.

ISA Saver Account

All the benefits of an easy access account and tax free savings as well.

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Account
name

Interest rate

Minimum
opening
balance

Interest type

Withdrawals

Term

2 Year Fixed Rate ISA (yearly interest)2 Year Fixed Rate ISA (yearly interest)

1.50%
Tax free/ AER fixed

£1

Fixed

Permitted subject to a loss of interest charge

2 Year Fixed Rate ISA (yearly interest)See Summary Box for details

2 Year Fixed Rate ISA pays a fixed interest rate for 2 years. Interest is paid annually on the anniversary of the first deposit. At the end of your Fixed Rate ISA term, your account will change into a variable rate Standard Saver Postal ISA. We will contact you before this happens.

For more information on this account go to: www.birminghammidshires.co.uk/standardsaveraccounts/

2 Year Fixed Rate ISA (monthly interest)2 Year Fixed Rate ISA (monthly interest)

1.49% Tax free
1.50% AER fixed

£1

Fixed

Permitted subject to a loss of interest charge

2 Year Fixed Rate ISA (monthly interest)See Summary Box for details

2 Year Fixed Rate ISA pays a fixed interest rate for 2 years. Interest is paid monthly on the first bank working day of each month. At the end of the term your account automatically changes to a Standard Saver Postal ISA Account.

For more information on this account go to: www.birminghammidshires.co.uk/standardsaveraccounts/

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FSCS – protecting your money. Find out more here.

Gross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.

AER means Annual Equivalent Rate. AER illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.

Tax free is the contractual rate of interest payable where interest is exempt from income tax.

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Birmingham Midshires is a division of Bank of Scotland plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. Registered office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland No. SC327000.
To contact the FCA Consumer helpline, please ring 0800 111 6768. Alternatively call the Money Advice Service on 0300 500 5000 or visit www.moneyadviceservice.org.uk.