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120 Day Notice Cash ISA

To open a Hinckley & Rugby 120 Day Notice Cash ISA account you will need a minimum of £500.

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The maximum you can invest in a Cash ISA in a tax year is £20,000. Investors must be 16 or over to open a Cash ISA and must be resident in the UK for tax purposes.

If you do not put in the maximum allowed in any tax year then you will not be able to make up the balance in another tax year.

The account may not be a joint account nor may it be held on behalf of a person other than the account holder.

For eligible investors aged 18 or over the annual ISA subscription limit in this tax year is £20,000. The limit for investors aged 16 and 17 (who can only subscribe to a Cash ISA) is £20,000.

Up to £20,000 of the allowance can be saved in a Cash ISA with Hinckley & Rugby or split between a Cash ISA, a Stocks and Shares ISA (with another provider), an Innovative Finance ISA (with another provider) and a Lifetime ISA (with another provider). We do not offer Stocks and Shares ISAs, Innovative Finance ISAs or Lifetime ISAs. Alternatively, the full £20,000 can be invested in a Stocks and Shares ISA or an Innovative Finance ISA with another provider.

The Society offers a range of Cash ISA accounts but only accepts subscriptions into one Cash ISA account in any one tax year.

Interest is paid annually on 5th April or on closure.

Hinckley & Rugby does not accept the transfer of ISAs from other savings organisations.

To view the Society’s identification requirements for new customers, please click here.

With effect from 20 April 2017

Summary box
Key product information for this account. For your own benefit and protection, you should carefully read the Savings Account Terms and Conditions booklet.
Account Name
 120 Day Notice Cash ISA
What is the interest rate?
 

The interest rate is variable at 1.20% gross*/AER**.  Interest is paid annually on 5 April.

 
Min InvestmentAnnualMonthly
Gross AER Gross AER
£5001.20%1.20% - -
Can Hinckley & Rugby Building Society change the interest rate?
 

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Conditions 7.5 and 7.6.

What would the estimated balance be after 12 months based on a £1,000 deposit?
 

Assuming that no further deposits or withdrawals are made and there is no change in interest rate after a 12 month period the estimated balance would be £1,012.

This figure is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?
 

Investors must be 16 or over to open a Cash ISA and must be resident in the UK for tax purposes.

The account may not be a joint account nor may it be held on behalf of a person other than the account holder.

Complete the application form attached to this brochure, including the declarations on the reverse side, and take it to one of our branches or agencies, or post it to us at the address on the rear cover, with your investment and identification (if applicable). Please make cheques payable to ‘Hinckley & Rugby Building Society a/c ‘your name’.

The minimum deposit required to open an account is £500. You may deposit funds up to an annual ISA allowance each tax year, depending on any deposits you may have paid into a Stocks and Shares ISA, an Innovative Finance ISA or a Lifetime ISA.

The annual ISA subscription limit in this tax year is £20,000.

You can manage your account at any of our branches or by post.

 

Can I withdraw money?
 

Offers penalty free access to your savings, subject to a 120 day notice period.  You are required to give 120 days’ notice in writing, by telephone or at a branch or agency.  Withdrawals must be made within 14 days of the notice period becoming effective.

Should you need immediate access to your funds, a withdrawal can be made subject to 120 days’ loss of interest on the amount withdrawn.

Subject to the conditions set out above, money can be paid out against a cheque from the start of the sixth business day following the day of deposit.  Business day means a day other than a Saturday, Sunday or Bank Holiday.  Funds are available for immediate withdrawal for all other types of deposit.

All withdrawals are subject to branch and agency limits.  The cash withdrawal limit is £500 per day.

Withdrawals have no effect on subscription limits.  Once the limit has been reached for the tax year, savers may make no further subscriptions regardless of withdrawals.

Your ISA account can be transferred to another ISA provider (for which the Society currently makes a £25 charge).

Subject to ISA terms and conditions you may close your ISA at any time without loss of tax exemptions.

Additional information
 

Interest is paid gross without tax deducted.

* Gross rate – the annual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax liability.

** AER - stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.

Interest is paid annually on 5th April or on closure.

  1. An ISA begins from the date the subscription is made, provided there is a valid application in place. This means that applications may be accepted before the tax year in which subscriptions can be made.
  1. You may decide not to proceed with the ISA contract within 14 calendar days (excluding public holidays) of the receipt by the Society of the application to open this ISA account. Any decision to close your account within this period should be notified to us in writing to our Principal Office. In these circumstances we will return the full amount of your outstanding capital together with any interest earned with no additional charges incurred. You will then be free to subscribe to another ISA in the same tax year.
  1. The application to open a 120 Day Notice Cash ISA account remains valid for subscriptions made in the next and consecutive years. However, where a break between subscriptions lasts for a whole tax year then a fresh application must be made before subscriptions recommence.
  1. The Society will notify you if, by reason of any failure to satisfy the provisions of the ISA Regulations, your 120 Day Notice Cash ISA has, or will, become void.
  1. At your request, your 120 Day Notice Cash ISA, with all rights and obligations, may be transferred in full or in part to another ISA manager subject to a £25 administration charge payable to the Society. You must make a Transfer Application to the new ISA manager and the Society will send the funds and accompanying information to the new ISA manager within 5 business days of receipt of both the transfer instructions and the consent notice from the new ISA manager. Business day means a day other than a Saturday, Sunday or Bank Holiday.
  1. At your request, and within the number of days stipulated by you, all or part of the cash deposits held in your 120 Day Notice Cash ISA, together with any interest earned, shall be transferred or paid to you. However, the period stipulated by you in your withdrawal instructions must not be less than 5 business days in order to allow the Society a reasonable period for practical implementation of your withdrawal request . We will normally process withdrawal instructions on the day we receive them but we guarantee that they will be processed within 5 business days. The Society will endeavour to conduct all transactions promptly and all correspondence is sent by first class post. In unforeseen circumstances, such as postal delays, the Society cannot be held responsible.

This is a Cash ISA. You must not subscribe more than £20,000 in total to a Cash ISA, a Stocks and Shares ISA, an Innovative Finance ISA or a Lifetime ISA in the same tax year. You must not subscribe to another Cash ISA in the same tax year that you subscribe to this 120 Day Notice Cash ISA.

Where current year subscriptions are being transferred from a Cash ISA to a Stocks and Shares ISA, an Innovative Finance ISA or a Lifetime ISA, the current year subscriptions are transferred in whole (in the case of a transfer to a Lifetime ISA, subscriptions must not exceed the payment limit). This means that you are regarded as never having subscribed to the Cash ISA. Within the overall subscription limit, therefore, you may subscribe to a Cash ISA later in the current year (with the same or a different ISA manager).

We ask for an initial investment of at least £500 and also make a £25 charge on transfers. Because of these requirements the Hinckley & Rugby’s 120 Day Notice Cash ISA does not meet the minimum standards for the deposit-based stakeholder product

Hinckley & Rugby does not accept the transfer of ISAs from other savings organisations.

By special arrangement your 120 Day Notice Cash ISA account can be transferred to another approved ISA provider (for which the Society makes a £25 administration charge).

You can transfer current year subscriptions in whole and/or previous years’ investments in whole or in part.

 

Enquire about 120 Day Notice Cash ISA

Thank you for your interest in our 120 Day Notice Cash ISA  account.

If you would like us to post you a brochure and application form please use the enquire button below and complete your details.

Enquire about the 120 Day Notice Cash ISA account

Apply for a 120 Day Notice Cash ISA

Thank you for your interest in our 120 Day Notice Cash ISA.

To apply for this account, please complete the boxes with your name, email address and telephone number, then read the Society’s Savings Account Terms and Conditions and Interest Rates for Savers (see below) and tick the box to confirm you understand them. Please also view the Deposit Guarantee Scheme Information Leaflet and tick the second box to confirm you have seen it.

Please then click ‘Submit’ to obtain an application form and the declaration for this account which you should print, complete and return to:

Savings Department
Hinckley & Rugby Building Society
Upper Bond Street
Hinckley
Leicestershire
LE10 1DG

Please ensure you have enclosed the following with your completed application form and signed declaration:

1. Your personal cheque to open the account (requirement for new customers). Please note that your personal cheque does not need to be for the full amount you wish to invest in the 120 Day Notice Cash ISA.

2. The required identification (if applicable) – please click here for details

Savings Apply: 120 Day Notice Cash ISA

Please fill out this form, tick the box to agree to our Savings Account Terms and Conditions and click submit.

 


Important information about all of our accounts

Savings type

This product belongs to the following type of savings:
ISA Accounts, Notice Accounts