1 Year Fixed Rate ISA
1 Year Fixed Rate ISA 31.01.2023
0.60% Tax-Free* /AER**
Interest is added to the account annually on 31 January.
Can the Society change the interest rate?
The interest rate is fixed until the maturity date on 31 January 2023.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on the fixed rate of interest, if you deposited £1,000 into this account, after 12 months you would have £1006.00.
(This figure is only an estimate, based on there being no additional deposits or withdrawals in that time with all interest being added to your account. This figure is for illustrative purposes only, and does not take into account your individual circumstances.)
How do I open and manage my account?
To open this account:
To open an account you must complete the appropriate application form. You can visit any of our branches with your opening investment of cash or cheque or apply by post by sending the application form with an opening cheque. You will be asked to provide proof of identity. This is to reduce the risk of fraud and is in line with anti-money laundering legislation. Acceptable forms of identification are detailed in our ‘Proving your name and address’ leaflet. Alternatively, our staff will give you full details.
If you change your mind:
How do I manage my account:
Can I transfer in my ISA from another ISA Manager?
Can I withdraw money?
• You cannot make partial withdrawals.
Can I transfer out my ISA to another ISA Manager?
What happens at the end of the fixed rate period?
Your savings will be transferred to another fixed term account with the closest access and duration to your existing product, so you can continue your investment; however we will also detail your options including how to transfer to an easy access ISA (NISA) or how to close your account.
You will be given full access to your funds for a specified period if you have other plans for your savings and wish to withdraw your funds or choose an alternative product.
This represents the Terms and Conditions for 1 Year Fixed Rate ISA (31.01.2023) and should be read in conjunction with the Cash ISA Key Features Document, General Investment Terms & Conditions and our Customer Information booklet.
AER (Annual Equivalent Rate)**
Changes to these terms
Financial Services Compensation Scheme
Retail Banking Conduct of Business
Open your savings
If you’re ready to open your savings account by post you’ll need to do the following:
- Download, read and accept the terms and conditions
- Be an existing member or a new applicant resident in our local postcode areas IP, NR, CO, CM, CB and PE
- Read and retain the Financial Services Compensation Scheme (FSCS) information sheet
- Print and fully complete the application form
We will require proof of your identity to open a new account if you are a new customer. For existing members we may request identification, for example if your records with us are incomplete.
Completed application forms should be posted to Suffolk Building Society, Freehold House, 6-8 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.
1 Year Fixed Rate ISA – Terms and ConditionsDownload
Proof of your identityDownload
General investment terms & conditionsDownload
INVL67 ISA Key FactsDownload
Standing order formDownload
FSCS Information SheetDownload
Savings tariff of chargesDownload
Guidance for people wanting to manage a bank account for someone elseDownload
INV9 ISA Application FormDownload
Interested in opening a savings account?
Get in touch