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Easy Saver ISA

No-one knows what the future holds. That is why we all like the peace of mind of having easy access to our savings. With our Easy Saver ISA, not only do you get easy access to your money, the more you save, the more you earn tax-free.

Key features

  • A tiered variable rate of interest.
  • Minimum opening balance of £10 up to your annual Cash ISA limit of £20,000 for the tax year 6 April 2020 – 5 April 2021.
  • You can make withdrawals at any time without losing the tax benefit on the rest of your savings within the account. Please remember, if you withdraw from your Easy Saver ISA you cannot reinvest that amount back into this account in the same tax year if your total deposits will exceed your yearly allowance
  • Make additional deposits at any time up to the maximum allowed
  • You can only subscribe to one Cash ISA at a time each tax year and you must be over 16 to open one
  • Transfers from existing Cash ISAs and Stocks and Shares ISAs are permitted
  • Interest is paid annually and can be paid into the account, another West Brom account or to another bank or building society account. No monthly interest option is available.
  • This account is available through the Branch or Direct. This means that you can open and use your account at a branch, through the post or over the telephone. You cannot use this account online.
Up to
Up to
0.15% Tax-free p.a./AER Variable
Interest Tier Annual
£1-£4,999.99 AER 0.05% Tax-Free 0.05%
£5,000-£14,999.99 AER 0.05% Tax-Free 0.05%
£15,000-£500,000 AER 0.15% Tax-Free 0.15%
View details

Summary Box

Account name

Easy Saver ISA

What is the interest rate?

Interest Tier Annual Monthly
AER Gross AER Gross
Interest is variable and paid annually (calculated to 5 April and paid on 6 April each year).
£1-£4,999.99 0.05% 0.05% N/A N/A
£5,000-£14,999.99 0.05% 0.05% N/A N/A
£15,000-£500,000 0.15% 0.15% N/A N/A

Can the West Brom change the interest rate?

We may change the interest rate we pay on the Easy Saver ISA at any time.

If the interest rate on your account falls, and the balance in your account is £100 or more, we will personally notify you of the change.

All our interest rates are available in our branches and on our website.

If you would like to find out more please read Sections 5d) and 5e) of your General Terms and Conditions.

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

If you saved £1,000 in the Easy Saver ISA the estimated balance after 12 months would be £1,000.50.

This example assumes the initial deposit of £1,000 is made on 11 May 2020 and no further deposits or any withdrawals are made and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.

What would the estimated balance be after 12 months based on a £5,000 deposit?

If you saved £5,000 in the Easy Saver ISA the estimated balance after 12 months would be £5,002.50.

This example assumes the initial deposit of £5,000 is made on 11 May 2020 and no further deposits or any withdrawals are made and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.

What would the estimated balance be after 12 months based on a £15,000 deposit?

If you saved £15,000 in the Easy Saver ISA the estimated balance after 12 months would be £15,022.50.

This example assumes the initial deposit of £15,000 is made on 11 May 2020 and no further deposits or any withdrawals are made and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

This account can be opened and used at a branch, through the post or over the telephone. You cannot use this account online.

You can open the Easy Saver ISA with a minimum deposit of £10 up to your annual Cash ISA limit of £20,000 for the tax year 6 April 2020 - 5 April 2021. The maximum balance is £500,000 (including transfers from other Cash ISAs) and the minimum operating balance once the account is open is £1.

Additional deposits can be made at any time up to the maximum allowed.

Can I withdraw money?

You have full, easy access to your money without losing the tax benefit on the rest of your savings within the Easy Saver ISA. Please remember, if you withdraw from your account you cannot reinvest that amount back into the Easy Saver ISA in the same tax year if your total deposits will exceed your yearly allowance.

Additional Information

Interest on this account is paid tax-free.

Did you know?

AER – stands for Annual Equivalent Rate and this illustrates the amount of interest paid on your account if it were to be paid and compounded once a year. All rates quoted are correct as at 11/05/2020.

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

Identification – when you open an account with the West Brom we may need to confirm your identity. For full details on why this is required and the types of identification accepted please refer to the Society’s ‘Important information on identification’ leaflet.

Personal Savings Allowance – the Personal Savings Allowance was introduced on 6 April 2016 and means that the first £1,000 of overall savings interest for basic rate taxpayers and the first £500 for higher rate taxpayers are free from income tax. (There is no allowance for additional rate taxpayers.) From this date, we stopped deducting any tax from the interest paid to you (ISAs are tax-free). You are responsible for paying any tax due to HM Revenue & Customs (HMRC). For further information about the Personal Savings Allowance, please contact your local HMRC office.

Terms and conditions

Here you will find both Product Specific and General Terms and Conditions.

The information provided in the Summary Box is a summary of the key features of the Easy Saver ISA. You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.

Apply now

Download and complete your application form, then send it to us to apply.

Call us 0345 241 3785

Transferring funds from another ISA provider?

If you want to transfer funds from another ISA provider into a West Brom ISA, please send the appropriate ISA transfer Letter of Authority with your application form.

Making the most of your ISA

A guide to tax-free saving at the West Brom.

View guide

Keeping your money safe

FSCS logo

Your eligible deposits with West Bromwich Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.

More info
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