Fixed Rate Cash ISA – until 31 March 2028

Interest is paid annually on 5 April or on closure.

The interest rate is fixed at 4.03% Tax Free* until 31 March 2028.

At the end of the fixed rate term, your account will automatically become an Easy Access Cash ISA or the nearest equivalent available at that time. You can find the current rate payable on this account by visiting our Interest Rate History page (hrbs.co.uk/interest-rate-history/)

The interest rate is fixed and cannot be changed during the fixed rate term.

Savers must be 18 or over to open a Cash ISA and must be resident in the UK for tax purposes. The account cannot be a joint account or held on behalf of another person.

This account can be opened by post or at any of our branches and agencies. Simply complete the application form and take it with your opening deposit*, or post them to us at the address in this brochure. Please make cheques payable to the account holder.

*Your opening deposit must be paid in within 5 business days of the account being opened, or you will need to start the application process again. If you wish to pay this by electronic transfer, use the details that we will send you when the account is open.

Important: There is no passbook for this account. You will receive a certificate when the account is opened.

Your opening deposit must be at least £500 – up to your annual ISA allowance of £20,000. Note that the total you are allowed to add across ALL the ISAs you hold is £20,000 during the tax year 6 April 2025 to 5 April 2026.

Please note: this is a lump sum account – you cannot add more money to it once it has been opened. However, if you open the account by transferring a Cash ISA, you can top this up with a deposit at the same time (no later than 5 business days after the account has been opened following the transfer of funds). You can also do this the other way around – open with a deposit and immediately transfer an existing Cash ISA into the account.

You can transfer money from an existing Cash ISA (held with us or with another provider), as long as the terms and conditions of your existing account allow this. If you are transferring in ISA savings that were deposited before 6 April 2025, you can transfer all or part of it. If you are transferring in ISA savings that were deposited from 6 April 2025 onwards, you must transfer all of that (not just part).

Any ISA transfer funds must be received within 21 calendar days of us accepting your transfer request.

To transfer an ISA, please ask us for a transfer form.

You can manage your account at any of our branches or agencies, by phone, or by post. You can also view your account online: on our app or by using H&R Online on our website (after registering for the service).

This account is designed for long-term savers who do not expect to withdraw money until the end of the fixed-rate term, when the account matures.

The account will mature on 31 March 2028.

However, during the fixed-rate term you can withdraw all or part of your savings (this includes an ISA transfer to another organisation), but you would lose 180 days’ interest on the amount withdrawn.

You may withdraw up to £500 in cash at any of our branches or agencies. Requests for cheques must be submitted in writing or by visiting a branch or agency. Requests for Faster Payment transfers can be made in writing, by phone, or by visiting a branch or agency.

All Faster Payments must be made to the nominated bank account linked to your savings account.

All withdrawals are subject to our daily limits, as outlined in our Savings Account Terms and Conditions booklet.

At the end of the fixed-rate term, the account will become an Easy Access Cash ISA (or similar that is available at that time). Then, further deposits and withdrawals can be made without notice or penalty.

We will write to you within 14 days before your maturity to let you know that your Fixed Rate ISA is coming to an end and will automatically become an Easy Access Cash ISA Account.

* Tax Free Savings – contractual rate of interest payable when the interest is exempt from tax.

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

1. The account must be in your own name and not be held for the benefit of anyone else, including being used as security for a loan.

2. The Society will satisfy ourselves that anyone we delegate our functions and responsibilities to under the terms agreed is competent to carry them out.

3. 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.

4. 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 Head 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.

5. The application to open this ISA account remains valid for subscriptions made in the next and consecutive years (where further subscriptions are allowed by the Society).

6. The Society will notify you if, by reason of any failure to satisfy the provisions of the ISA Regulations, your ISA has, or will, become void.

7. At your request, your ISA, with all rights and obligations, may be transferred in full or part to another ISA provider, however if you do so prior to the end of the fixed rate term you will lose a sum equivalent to 180 days’ gross interest on the amount withdrawn. 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.

8. At your request, and within the number of days stipulated by you, all or part of the cash deposits held in your ISA, together with any interest earned, shall be transferred or paid to you subject to the loss of 180 days’ interest during the fixed rate term. 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 more than one Hinckley & Rugby Cash ISA in the same tax year.

Where current year subscriptions are being transferred from a Cash ISA to another Cash ISA, 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 a deposit of at least £500. Because of this requirement this Cash ISA does not meet the minimum standards for the deposit-based stakeholder product.