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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 West Brom Saver ISA, you can access your money when you need to and all your interest is paid tax-free.
| 2.80% Tax-free p.a./AER Variable | |
| Interest Tier | Annual |
| £1 - £2,000,000 | AER 2.80% Tax-Free 2.80% |
West Brom Saver ISA
| 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). Annual interest can be added to the account or paid into another account. Monthly interest is not available on this account. | ||||
| £1 - £2,000,000 | 2.80% | 2.80% | N/A | N/A |
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 |
£1,028.00 |
This example assumes:
This example is provided to help you compare savings accounts and does not take into account any individual circumstances.
You can open this account in branch or by post. You cannot open this account online. The minimum opening deposit is £1 up to you annual Cash ISA limit of £20,000 for the tax year 6 April 2024 - 5 April 2025. The maximum balance is £2,000,000 (including transfers from other Cash ISAs) and the minimum operating balance is £1.
If opened in a branch, you will then manage this account in any of our branches. If you open the account by post, you will then manage your account by telephone/post.
With our savings portal you can also view this account online.
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 West Brom Saver ISA does not exceed the maximum balance of £2,000,000.
You can pay any amount into your account, up to the maximum account balance. You can:
You can make as many withdrawals as you like from this account with no notice period or charge. If you withdraw from your account, you cannot reinvest that amount back into the West Brom Saver ISA in the same tax year if your total deposits will exceed your yearly allowance.
If you manage your account in a branch, withdrawals will be subject to the branch cash withdrawal limits (details of these are on display in our branches). If you manage your account by telephone/post, withdrawals are made to your linked bank/building society 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 straightaway.
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 06/04/2024.
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 West Brom Saver ISA. You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Download and complete your application form, then send it to us at:
FREEPOST THE WEST BROM
(Please note: this freepost address must appear in uppercase and no further address or stamp are required)
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.
