1 Year Fixed Rate ISA (31.10.2027)

Account name

1 Year Fixed Rate ISA (31.10.2027)

What is the interest rate?

4.35% Tax-Free***/AER**

Interest is added to the account annually on 31 October or can be paid into another Suffolk Building Society account or direct to your bank account on an annual or monthly basis. Interest paid monthly cannot be added to the account.

Can the Society change the interest rate?

The interest rate is fixed until the maturity date on 31 October 2027.

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

If you were to open this account with £1,000 and no further deposits or withdrawals were made, after 12 months you would earn £43.50 in interest. If you chose to have interest added, this would result in a total balance of £1,043.50. Please note this is an illustration only and does not reflect your specific circumstances.

How do I open and manage my account?

To be eligible for this account, you need to:
• Be a permanent UK resident, aged 18 or over.
• Have a National Insurance Number.
• Deposit a minimum of £1,000 up to the maximum annual HM Revenue & Customs (HMRC) ISA limit.

You can open an account:
• By completing the appropriate application form.
• Visit any of our branches with your opening investment of cash, cheque or debit card or apply by post by sending the application form with an opening cheque.
• Provide proof of identity. Acceptable forms of identification are detailed in our ‘Verifying your identity’ leaflet. Alternatively, our staff will give you full details.

If you change your mind:
If you cancel your subscription within 14 days of opening your account, we’ll help you move to another account or return your savings with interest. If your ISA was funded by an ISA transfer, you can move it to another ISA to keep its tax-free status.

How to manage your account:
• You can save up to the maximum annual ISA allowance until 5 April 2027.
• You may deposit up to the maximum annual ISA limit set by HMRC by cash, cheque or bank transfer.
• Our ISA Key Facts gives you important information about managing your ISA and should be read in conjunction with these terms and conditions.

Can I transfer my ISA from another ISA Manager?

Yes. You can transfer in an ISA from another ISA Manager, whilst this ISA remains available to open. If you are transferring in a maturing/notice ISA, the maturity/notice date must be within 21 days of your request. We cannot accept partial transfers of current years’ subscriptions or flexible ISAs where you have used your flexible options.

Can I withdraw money?

You cannot make partial withdrawals.
• However, your account can be closed before the maturity date subject to a penalty equivalent to 120 days’ interest. This means that you can access your funds instantly where you accept the penalty.
• The penalty will first be deducted from accrued interest. If there is insufficient accrued interest the penalty will be deducted from the balance in your account.
• If you close your account, your savings will lose their tax-free benefit unless you are transferring your funds to another ISA provider.

What happens at the end of the fixed rate term?

We will contact you 14 days before maturity. We will:
• Provide information on how you can access your funds, close your account, or continue to save with us.
• Give you a time frame in which to decide.
• Transfer your savings to another fixed term savings product with the closest access terms and duration if we don’t hear from you.

Additional
Information

*Tax-Free
Interest is free of Personal UK Income Tax, your Personal Savings Allowance and Capital Gains Tax.

**AER (Annual Equivalent Rate)
A rate which illustrates what the gross rate would be if the interest was paid and added once each year. This helps you compare more easily the return you can expect from your savings over time.

Changes to these terms
Are detailed in Section 19 of our General Investment terms and Conditions.

Customer complaints
Although we do all we can to provide a first-class customer service, sadly sometimes things do go wrong. Your concerns are important to us to improve the quality of service and identify possible training needs.

We are committed to ensuring all complaints are fully and fairly addressed. If you have a complaint, please let us know and we will do our very best to resolve the problem. A leaflet is available detailing our complaint procedure, which you can request at any time.

Financial Services Compensation Scheme
Suffolk Building Society participates in the Financial Services Compensation Scheme. For full details please ask our staff.