Attention: You need JavaScript enabled to use this site.
Often it can help to have the reassurance that you can access your savings should you need to. With our Limited Access ISA (Issue 1) account you can have the flexibility of up to six withdrawals a year without notice or charge.
| 3.50% Tax-free p.a./AER Variable | |
| Interest Tier | Annual |
| £1 - £1,000,000 | AER 3.50% Tax-Free 3.50% |
| If seven or more withdrawals are made | AER 2.50% Tax-Free 2.50% |
Limited Access ISA (Issue 1)
| Interest Tier | Annual | Monthly | ||
|---|---|---|---|---|
| AER | Gross | AER | Gross | |
| Interest is variable and paid annually or monthly. Annual interest can be added to the account or paid into another account and is paid on 30 April. Monthly interest must be paid to another bank or building society account and is paid/credited on the first day of the month. | ||||
| £1 - £1,000,000 | 3.50% | 3.50% | 3.50% | 3.45% |
| If seven or more withdrawals are made | 2.50% | 2.50% | 2.50% | 2.47% |
The interest rate is variable, so it can go up or down 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.
For details about why we may change the interest rate, as well as how and when we’ll let you know, please refer to sections 5d) and 5e) of our General Terms and Conditions (which are available in our branches and on our website).
All our interest rates are available in our branches and on our website.
|
Deposit amount |
Estimated value after 12 months |
|
£1,000 |
£1,035.00 |
This example assumes:
|
Deposit amount |
Estimated value after 12 months |
|
£1,000 |
£852.44 |
This example assumes:
These examples are provided to help you compare savings accounts and do not take into account any individual circumstances.
You can open this account in branch or on our website.
The minimum opening deposit is £1 up to your annual Cash ISA limit of £20,000 for the tax year 6 April 2024 - 5 April 2025.
The maximum balance is £1,000,000 (including transfers from other Cash ISAs) and the minimum operating balance is £1.
If, at 5 April 2024, you are 16 or 17 and do not have an existing Cash ISA, you will be eligible to apply for, and subscribe to, a single Cash ISA in any tax year until your 18th birthday.
If opened in a branch, you will then manage this account in any of our branches. If the account is opened on our website, you will be able to access your account using our savings portal. You can view your account using our savings portal, even if you have opened the account in a branch. For more information about how to register for our savings portal and the access our savings portal provides, please visit: www.westbrom.co.uk/savingsportal. Additional deposits can be made at any time up to the annual Cash ISA limit. Transfers from other Cash ISAs can also be made at any time providing the total amount in the Limited Access ISA (Issue 1) does not exceed the maximum balance of £1,000,000. You can pay any amount into your account, up to the maximum account balance.
You can:
You can make up to six withdrawals each account year without charge or notice (subject to the branch cash withdrawal limits which are on display in our branches). This includes withdrawing any interest earned if you choose to have your interest added to the balance of your Limited Access ISA (Issue 1) account. The account year runs from 1 May to 30 April. If you make seven or more withdrawals, the lower interest rate will apply. At the start of the next account year, the account will go back to the higher variable interest rate available at that time and you will, once again, be able to make up to six withdrawals without charge or notice. If you set up your account for the interest to be automatically paid to another West Brom account, or to an account held with another bank/building society, this does not count as a withdrawal from your Limited Access ISA (Issue 1) account.
If you change your mind after you’ve opened your account, don’t worry. If you tell us within 14 calendar days, we’ll give you your money back with interest straight away. We pay your interest tax-free. This means you will not pay income tax on the interest you earn. You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. All rates quoted are correct as at 09/04/2024
Tax-free – means you will not pay income tax on the interest you earn.
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.
Protection for savers – Your eligible deposits with the West Brom are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits held above the limit are unlikely to be covered. You can visit www.fscs.org.uk for more information.
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 Limited Access ISA (Issue 1). You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Use our branch finder to find your nearest branch.
If you want to transfer funds from another ISA provider into a West Brom ISA, please print the appropriate ISA transfer Letter of Authority and send it to:
FREEPOST THE WEST BROM
(please write the address exactly like this, all in upper case and on one line. You don’t need to use a stamp. Please note: Royal Mail delivers Freepost as second class mail)
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.
