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5 Year Fixed Rate ISA

Summary Box

Account name

5 Year Fixed Rate ISA (31.05.2027)

Interest rate

1.65% Tax-Free* /AER**

Interest is added to the account annually on 31 May.

Can the Society change the interest rate?

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

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 £1016.50.

(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:
• You need to be aged 16 or over.
• Provide an opening investment of £100 up to the maximum annual ISA limit set by HM Revenue & Customs (HMRC). Please speak to a member of staff or refer to our website for the current ISA subscription limits.
• Be an existing member or a new member resident in postcode areas IP, NR, CO, CM, CB or PE.
• Be a permanent UK resident.
• Have a National Insurance number.

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:
If you are not happy with your chosen ISA within 14 days of opening it, we will help you switch accounts or return your savings with interest.

How do I manage my account:
• You may invest up to the maximum ISA limit up to and including 5 April 2023 by cash, cheque or standing order.
• No additional subscriptions can be accepted after 5 April 2023.
• The maximum annual cash limit is set by HMRC. Please speak to a member of staff or refer to our website for the current ISA subscription limits.
• Remember that you can only subscribe to one cash ISA with one provider in any tax year, however you can invest up to the maximum annual ISA limit across other types of ISAs.

Can I transfer in my ISA from another ISA Manager?
Yes, you can transfer in an ISA from another ISA Manager whilst 5 Year Fixed Rate ISA 31.05.2027 remains in our current range and provided you have not exercised any flexible option.

Can I withdraw money?

• You cannot make partial withdrawals.
• However, your account can be closed at any time subject to a penalty equivalent to 365 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, you cannot open another cash ISA in the same tax year in which you have subscribed to this ISA.

Can I transfer out my ISA to another ISA Manager?
If you want to transfer out to a new ISA Manager before 31 May 2027, then the withdrawal conditions above will apply to the transfer.

What happens at the end of the fixed rate period?
The final interest will be added to your account on 31 May 2027. We will contact you 14 days before this date providing you with details of the proposed account your savings will be transferred to when your ISA matures.

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 5 Year Fixed Rate ISA (31.05.2027) and should be read in conjunction with the Cash ISA Key Features Document, General Investment Terms & Conditions and our Customer Information booklet.

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

AER (Annual Equivalent Rate)**
A notional rate which illustrates what the gross rate would be if the interest was paid and compounded once each year.

Customer complaints
Although we do all we can at Suffolk Building Society to provide a first class customer service, sadly from time to time things do go wrong. We are keen to be aware of your concerns as they help us to identify ways in which we can improve the quality of service and possible training needs.
We are committed to ensuring all complaints are fully and fairly addressed. If you have a complaint please let us know by visiting any branch or agency, or call 0330 123 0723 and we will do our very best to resolve the problem. A leaflet is available detailing our complaint procedure. You can request a copy of this at any time.

Changes to these terms
Any changes in terms will be displayed in our branch offices. At least thirty days’ notice will be given of any changes to your disadvantage.

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

Retail Banking Conduct of Business
Suffolk Building Society complies with the Retail Banking Conduct of Business which set standards of good practice for building societies and banks.


Open your savings

To open a new account, you must be an existing member or a new applicant resident in our local postcode areas IP, NR, CO, CM, CB and PE.

If you’re ready to open your savings account by post you’ll need to do the following:

  1. Download, read and accept the terms and conditions
  2. Read and retain the Financial Services Compensation Scheme (FSCS) information sheet
  3. Read and retain the Privacy Notice
  4. Print the application form by clicking this link, fully complete and sign it. Then email it to us or pop into branch

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.


Useful downloads.

5 Year Fixed Rate ISA – Terms and Conditions


ISA Application Form


FSCS Information Sheet


Privacy Notice


Proof of your identity


Customer Savings Information FAQs


General investment terms & conditions


Standing order form


INVL67 ISA Key Facts


Savings tariff of charges


Guidance for people wanting to manage a bank account for someone else


Cash ISA or Matured CTF Transfer Authority


Interested in opening a savings account?

Get in touch.

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