eISA Saver Issue 1

1.00% to 1.30% tax-free pa/AER variable (Annual interest)

Ready to apply?

This account may be right for you if:

  • you're happy with a variable rate of interest that can go up or down
  • you'd like easy, flexible access to your money without affecting your ISA allowance
  • you want to be able to transfer in ISA savings from previous tax years.

Summary Box

Account name

eISA Saver Issue 1

What is the interest rate?

Balance Annual Interest
(tax free pa)
Monthly Interest
(tax free pa)
AER
(tax free pa)
£1 - £24,9991.00% (tax free pa)1.00% (tax free pa)1.00%
£25,000 - £49,9991.15% (tax free pa)1.14% (tax free pa)1.15%
£50,000 +1.30% (tax free pa)1.29% (tax free pa)1.30%
  • Annual Interest Rate
    Interest is earned daily and paid on the anniversary of account opening.
  • Monthly Interest Rate
    Interest is earned daily and each month's interest is paid on the same date your account was opened or the last day of the month if shorter.

    For balances eligible for higher rates of interest, the higher rate applies to the total balance.

Can Skipton Building Society change the interest rate?

  • Yes, the interest rate is variable, so it can go up or down.
  • Section 22 of our Savings Account Terms and Conditions explains why we may change the interest rate.
  • If you have at least £100 in your account we'll notify you before we reduce your interest rate.
  • The interest rate you receive will depend on your balance. If your account balance increases or decreases, your interest rate may change as a result and the relevant rate will apply to your account going forward.

What would the estimated balance be after 12 months based on a range of deposits?

Based on a deposit of Projected balance
£1,000 £1,010
£25,000 £25,287
£50,000 £50,650

The estimated balance projections assume that;

  • the account is opened with the amount stated
  • interest starts being earned straight away
  • no further deposits or any withdrawals are made
  • the interest is paid annually and added to the account
  • the interest rate stays the same for the full 12 months

Estimated balances are for illustrative purposes only and may be less for accounts opened by debit card.

How do I open and manage my account?

  • This account is available to UK residents aged 16 or over and can only opened and managed online.
  • You can deposit from £1 up to your total ISA allowance each tax year (£20,000 for 2019/2020), plus any ISA transfers, up to a maximum of £1 million.
  • No joint accounts allowed.

Can I withdraw money?

  • Yes, you can withdraw online. You don’t need to give us notice and there are no penalties.
  • For security reasons, you can’t withdraw or close within 14 days of us receiving your first payment. This applies to both new and existing customers.
  • This account is flexible, so you can withdraw money and put it back without affecting your ISA allowance, as long as it’s done in the same tax year and the account is still open.

Additional information

  • AER stands for Annual Equivalent Rate and shows what the interest would be if interest was paid and added each year.
  • All ISA interest is paid tax-free, which means it's exempt from income tax. Tax rules may change in future.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

It is important that you read the terms and condition documents carefully. These contain the details of your agreement with us for these accounts and we will rely on them for our relationship with you.

You can apply for this account securely online. If you haven't already register with Skipton Online, we will set up your online access as part of this process. You'll need to install the Skipton mobile app on a mobile device. Without this you won't be able to carry out certain transactions on the account, either through the mobile app or through Skipton Online.

Ready to apply?

1.00% to 1.30% tax-free pa/AER variable

Apply online (annual interest)

1.00% to 1.29% tax-free pa
1.00% to 1.30% AER variable

Apply online (monthly interest)

If you would like to transfer your existing ISA to our Online Cash ISA Saver, please read our Transferring Your ISA page.

If you would like to transfer your Cash ISA held with Skipton to another ISA provider, you will need to complete the ISA Transfer Authority Form supplied by your new provider.

Annual subscriptions must always be transferred in full for the current tax year.

You can transfer your flexible ISA to another ISA, but current and previous years' ISA allowances are treated differently. If you transfer your full balance to another ISA, previous years' ISA savings will no longer be flexible if you've withdrawn and not replaced before the transfer.

If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 850 1722, ask in branch or visit our Complaints page.

The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567.

www.financial-ombudsman.org.uk

For products and services bought online you can also refer to the Online Dispute Resolution platform (ODR) at ec.europa.eu/odr/. As we're a UK building society, the ODR will still refer you to the Financial Ombudsman Service as the alternative dispute resolution body. The Financial Ombudsman Service will refer you back to our complaints process unless you've already been through this.

Financial Services Compensation Scheme

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money
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