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savings-isa-40

Cash ISA 40 Day Notice Account

With tiered interest rates you can earn more

Clydesdale Bank’s Cash ISA 40 Day Notice Account gives you the opportunity to save your funds, earn interest and still be able to access your funds with 40 days notice of withdrawal. When you know when you will need to withdraw funds in advance, this is one of the ways to save and earn interest within the tax year.

Main features
  • Provided you give us at least 40 days’ notice, you can withdraw your money without paying a penalty*. Withdrawals without sufficient notice incur a charge.
  • The overall ISA limit for 2014/15 is £15,000 with the option to save all or some of the full allowance in cash.
  • The more you save, the higher the interest rate you’ll earn, with our tiered rates.
  • You can transfer any existing cash ISAs from other providers subject to the overall allowance of £15,000.
  • You only need £500 or more to open an account and you can add to your savings through regular payments, deposit a lump sum, or both (up to your annual limit of £15,000)**.
  • You can make deposits at your branch, on the phone or by post.
  • Annual interest is paid directly into your account.

You must be aged 16 years or over and a resident of the United Kingdom to apply for a Cash ISA.

The value of any tax benefits to you depends on your individual circumstances, the Law and Her Majesty's Revenue and Customs (HMRC) practice which are subject to change. The proceeds of an ISA are currently free from UK Income Tax and Capital Gains Tax.

* You may make a withdrawal from your ISA, in whole or in part, by giving 40 days notice. If you do not give 40 days notice, a charge will apply. The charge is equivalent to 40 days gross interest on the withdrawal amount. Further details can be found in the terms and conditions. ISA withdrawals have no effect on annual subscription limits as once you have reached the investment limit in any tax year you cannot make any further subscriptions in that tax year regardless of the number or amount withdrawn from your investment.

** The annual ISA limit for 2014/15 is £15,000, with customers having the option to save all or some of their full allowance.

*** Rate was changed 1st December 2013. Tax Free - is the rate payable when income is exempt from Income Tax. AER. Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

Tiered interest rates
Amount of savings Tax free AER rate (%pa)***
£24,000 and over 2.00%
£9,000 - £23,999 1.50%
£1 - £8,999 1.00%

Rates are correct as at 24th February 2015

Useful information
Product summary box
Account name Cash ISA - 40 Day Notice
Interest rates (AERs) Refer to the Cash ISA tariff for personal customers, our website www.cbonline.co.uk or the notice displayed in branch
Tax status Tax free – interest is paid gross
Withdrawal arrangements You may make a withdrawal from your ISA, in whole or in part, by giving 40 days notice. If you do not give 40 days notice, a charge will apply. The charge is equivalent to 40 days gross interest on the withdrawal amount. Further details can be found in the terms and conditions. ISA withdrawals have no effect on annual subscription limits as once you have reached the investment limit in any tax year you cannot make any further subscriptions in that tax year regardless of the number or amount withdrawn from your investment.
Access Via branch/post
Application process

There are three ways to open a new Cash ISA 40 Day Notice:

Applying by post
  1. Download the key features (PDF, opens in a new window), which gives details of the terms and conditions. You should print a copy of these key features and retain a copy for your own records before you sign the application form. By signing, you are therefore accepting the terms and conditions.
  2. Download how we use personal information (PDF, opens in a new window). You should print a copy of 'How we use Personal Information' and retain a copy for your own records before you sign the application form.
  3. Download the Application Form or application and transfer form (PDF, opens in a new window). Complete the details on-screen and then print 2 copies of the application form.
  4. Sign and date both copies of the application form and ensure you have stipulated your marketing preference. Please keep one of the copies for your own records.
  5. Choose how to make your deposit. You can do this by either personal cheque, internal transfer of funds, Direct Debit or standing order.

    1. Make a cheque payable to "Clydesdale Bank (ref: your name)". The cheque must be written from an account in the applicant's name and made payable to the person named on the application form.
    2. Request an internal transfer from your existing Clydesdale Bank account by completing your bank account details on the application form under section 3.
    3. Set up a Direct Debit: download the Direct Debit instruction form (PDF, opens in new window), complete your bank details, print, sign and date. The amount you wish to deposit into your Cash ISA and collection date should be completed on your Application Form. Please make sure your bank/building society account accepts Direct Debit payments.
    4. Set up a standing order: download the standing order instruction form (PDF, opens in new window), complete the details, print, sign and date. Please make sure your bank/building society account accepts standing order payments.
  6. Send the signed application form and deposit (cheque, Direct Debit instruction form or standing order instruction form or ensure you have completed Section 3 of the application form with your Clydesdale Bank account details if you require an internal transfer) to:

    Direct Banking
    Cash ISA Team
    Timor House, Mariner Court
    Clydebank Business Park
    Clydebank G81 2NR

What happens next?

When we receive your application it will be processed as quickly as possible.

  • You will receive confirmation in the post.
  • Every January we will send you an annual statement showing the value of your Cash ISA as at 31st December.
Transferring your ISA

If you have any Cash ISAs from previous years with other ISA providers, you can transfer them to your new Cash ISA 40 Day Notice account. New subscriptions will be subject to the overall allowance of £15,000.

More information on transferring your Cash ISA

How to apply

Apply by post

Open new account only – download an Application Form (opens in new window)

Open and transfer funds from existing ISA - download an Application and Transfer form (opens in a new window)

(See applying by post section below)


Apply in branch

Apply in person at any one of our branches

Request a branch appointment
Apply by phone

Monday to Friday 8.00am-8.00pm,
Saturday 9.00am-5.00pm,
Sunday 10.00am-4.00pm


Top-up your existing Cash ISA