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Cash ISA 40 Day Notice

With tiered interest rates you can earn even more

Our Cash ISA 40 Day Notice gives you the opportunity to potentially earn a higher rate of interest, without having to lock your money away for a long term.

At a glance
Interest rates
How to apply
Summary box
  • Main features

    Provided you give us at least 40 days’ notice, you can withdraw your money without paying a penalty.

    • Tiered interest - so the more you save, the higher the interest rate you’ll earn
    • Transfer your old ISAs - when you transfer any existing cash ISAs you have with other providers, you may be able to enjoy higher interest rates
    • Annual interest – paid directly into your account
    • Easy to open – apply online and start saving today or pop in to your nearest branch. You only need £500 to open an account
    • Easy to save – you can save a regular amount each month or make lump sum payments whenever you want, up to your annual subscription limit.
    • From 6th April 2014 you can invest up to £5,940. However, from 1st July 2014 the overall ISA limit for 2014/15 will be £15,000 with customers having the option to save all or some of their full allowance in cash, subject to the overall annual maximum amount of £15,000
    • Easy to manage – make deposits at your branch, on the phone or by post

    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.

    Transferring your existing ISAs

    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. So it's easier to manage your savings, and you could earn a higher rate of interest.

    Making withdrawals

    You can make penalty free withdrawals from your account by giving us 40 days’ notice. If you need to access your money in a hurry, there will be a minimum charge of £30. We will then transfer any remaining balance to our instant access Cash ISA. If you have invested the full allowance, you won’t be able to make any further deposits in that tax year even if you have withdrawn funds.

  • 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%

    Rate was last changed 1st December 2013

    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.

  • Opening a new account

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

    • By post – download an Application Form (opens in new window) To transfer funds from an existing ISA into your new account please see instructions below.
    • In branch – request a branch appointment
    • By phone – call us on 0800 012 1111 (Monday to Friday 8.00am-8.00pm, Saturday 9.00am-5.00pm, Sunday 10.00am-4.00pm)

    If you also wish to transfer your existing ISAs to a Cash ISA 40 Day Notice, please complete our transfer application form and return this alongside your ISA application form.

    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.

    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 (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.
      • Make a cheque payable to "Clydesdale Bank (re: Your Name)". The pre-printed name on the cheque must include the name on the Application Form.
      • Request an internal transfer from your existing Clydesdale Bank account by completing your bank account details on the application form under section 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.
      • 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.
  • Summary Box
    Key Product Information for our Savings Account
    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
    Conditions for bonus payment N/A
    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, your Cash ISA - 40 Day Notice account will switch to a Cash ISA - Instant Access account and a charge will apply. The charge is equivalent to 40 days gross interest or a minimum of £30.00, whichever is greater. 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

    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.

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.

Anyone aged 16 years or over is eligible to apply for a Cash ISA. You must be resident in the United Kingdom for tax purposes.

How to apply

Apply by post – download an Application Form (opens in new window) To transfer funds from an existing ISA into your new account please see instructions below.

Apply in person at any one of our branches

Request a branch appointment
Call us on
0800 012 1111
(Monday to Friday
8.00am-8.00pm,
Saturday
9.00am-5.00pm,
Sunday
10.00am-4.00pm)
Top-up your existing Cash ISA

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