2 year Fixed Rate e-Cash ISA - interest paid at maturity 1.17%

This Summary Box information sheet sets out the key information you need to know about your Fixed Rate e-Cash ISA. This forms part of our agreement with you, together with the General Terms and Conditions and the Fixed Rate Terms and Conditions.

Summary Box
Account name

Fixed Rate e-Cash ISA

What is the interest rate?

1.17% AER / 1.17% gross p.a.*

Interest is calculated daily and paid at maturity. You will start earning interest once your account balance reaches £1,000.

Accounts with interest paying at maturity will have their interest paid into your Castle Trust Bank savings account on the day of maturity. 

*The Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and compounded once each year, and it makes it easier for you to compare savings accounts.
Gross p.a. is the interest rate without tax deducted.

Can Castle Trust Bank change the interest rate?

Castle Trust Bank will not change the interest rate for the duration of the term of your Fixed Rate e-Cash ISA.

Your Fixed Rate e-Cash ISA will benefit from ‘Our Best Rate Promise’, which means if we increase the interest rate for the product you have applied for at any point in the 14 days following the opening of your account, you will automatically receive the higher rate. If we reduce rates don’t worry, you will still receive the same rate that you applied for. If our rates do increase, you don't need to contact us, we will do everything and then send you confirmation of the new terms applicable to your Fixed Rate e-Cash ISA.

What would the estimated balance be on the date the Fixed Rate e-Cash ISA matures based on a £1,000.00 deposit?

On a deposit of £1,000.00 the estimated balance would be:

Term
2 years
Initial deposit
£1,000.00
Balance at end of term
£1,022.12
Total interest payable
£22.12

The estimated balances are for illustration only and are based on:

  • interest calculated daily and paid at maturity,
  • the date on which the Fixed Rate e-Cash ISA matures,
  • the assumption that the Fixed Rate e-Cash ISA is not closed before the end of the fixed term.
How do I open and manage my account?

To apply for a Fixed Rate e-Cash ISA you must:

  • be aged 18 or older,
  • be a UK resident,
  • have a National Insurance number,
  • have a UK mobile number and a valid email address,
  • have a UK based current account in the name of the account holder.

You can apply for a Fixed Rate e-Cash ISA online through the website and, once you have registered your online log in details, through the Self Service Portal or the mobile app. A Fixed Rate e-Cash ISA can have one account holder and you can only subscribe to one cash ISA in a tax year. You can save up to £20,000 based on the 2021/22 tax year allowance.

ISA Transfers are acceptable, subject to this funding method being available at the time of application. Please check our website for current availability.

When you open your account, you will have a 14 day funding window to make your deposit(s) to meet the minimum value of £1,000 up to the maximum value of £500,000, after this time you will not be able to make any further deposits. If we have not received a deposit within the 14 day funding window, your account will be closed.

A Fixed Rate e-Cash ISA is an online account and is intended to be managed online through the Self Service Portal or the mobile app. You can view your accounts, download copies of statements, provide your maturity instructions online as well as contact us for any queries you may have, through the message centre in the Self Service Portal.

Can I withdraw money?

This account has a fixed term, so you can only withdraw your money without incurring any charges at the end of the fixed term (also known as 'maturity').

You are permitted to withdraw the full amount (including transferring to another ISA provider) but this is subject to a loss of interest (known as the early exit charge). The early exit charges are dependent on the fixed rate term, they are: 1 year = 90 days' interest, 18 months = 90 days' interest, 2 year = 180 days' interest, 3 year = 270 days' interest, 5 years = 360 days’ interest. To request a withdrawal, please call us on 0808 164 5000 Monday to Friday, 9am to 5pm or send a Secure Message using the Self Service Portal.

The maturity date is determined by the fixed term selected and the date you opened your account.

Additional information

You have the right to cancel your account during the 14 days from your account opening date, we call this the “Cooling Off Period”. You don’t need to give us a reason and we won’t charge you a cancellation fee, however, if you cancel your account during the Cooling Off Period, you won’t receive any interest on your deposit for the time it was in your Fixed Rate e-Cash ISA.

We will contact you before your maturity date to explain the options available to you so you can tell us what you want us to do with your money. If your Fixed Rate e-Cash ISA matures and we have not received an instruction from you, an Easy Access Maturity ISA will be opened for you.

Interest is paid at the Gross Rate (tax free).

Should you need to make a complaint, you can do so by contacting us by phone, post, or by sending us a Secure Message through our Self Service Portal. Our Complaints procedure can be found on the Savings Documents page.

Before you apply

Please read the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

ISA Transfers

If you're opening a Fixed Rate e-Cash ISA and wish to fund it by transferring an existing ISA from another provider, please note the following:

  1. You don't need to specify in your application process - just complete the 'Source of funds' as appropriate, then submit your application.
  2. You'll need to download a Transfer Form here, complete it and send that into us separately. Alternatively please call us and we can post a form to you.

ISA Transfer Guide

Log in Apply online Help and FAQs
Saving with Castle Trust Bank you are FSCS Protected

Your eligible deposits with Castle Trust Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Frequently Asked Questions

What is a fixed rate account?

A fixed rate account is a savings account that runs for a set period of time and pays interest monthly, annually or at maturity. The interest rate is fixed so you know exactly how much you will earn by the end of the term.

Can Castle Trust Bank change the interest rate on my fixed rate account?

Castle Trust Bank will not change the interest rate on fixed rate accounts for the duration of the term. In the 14 days after opening, your account will benefit from 'Our Best Rate Promise'.

What is 'Our Best Rate Promise'?

Your Fixed Rate Saver and Fixed Rate Cash ISA will benefit from ‘Our Best Rate Promise’, which means if we increase the interest rate for the product you have applied for at any point in the 14 days following the opening of your account, you will automatically receive the higher rate. If we reduce rates don’t worry, you will still receive the same rate that you applied for. If our rates do increase, you don't need to contact us, we will do everything and then send you confirmation of the new terms applicable to your Fixed Rate Saver/Fixed Rate Cash ISA.

What happens when my fixed rate savings account matures?

We will contact you before your maturity date to explain the options available to you so you can tell us what you want us to do with your money. If you choose to withdraw your money, you will receive it on the same day it matures. For example, if you opened a 1 Year Fixed Rate Saver on 15 September 2020 and chose to withdraw at maturity, you would receive your initial deposit plus any interest owed on 15 September 2021. You can find the date your account is due to mature on the account opening paperwork, you can also log in to the Self Service Portal to check the date and give maturity instructions when your account is close to maturing.

Can I withdraw money from my Fixed Rate Saver?

You can’t generally take money out of a Fixed Rate Saver until the account matures at the end of the term. We will, at our discretion, consider withdrawals or account closure should you encounter and can demonstrate financial hardship, but you should note that an Early Exit Fee equivalent to any unpaid interest on the amount being withdrawn would be applied.

See all FAQs

Not quite what you were looking for?

To go back to the full list of accounts we have available for our existing customers, click the link below.

View all accounts for existing customers

Mortgages
Your home may be repossessed if you do not keep up repayments on your mortgage. Loans are subject to status, terms and conditions. This website is for information purposes only. If you are in any doubt regarding suitability of our products please seek advice from an accredited independent mortgage adviser.

Savings
Your eligible deposits with Castle Trust Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information about the compensation provided by the FSCS, refer to the FSCS website at fscs.org.uk.

Castle Trust Bank means Castle Trust Capital plc, a company incorporated in England and Wales with company number 07454474 and registered office at 10 Norwich Street, London, EC4A 1BD. Castle Trust Capital plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under reference number 541910.

© 2021 Castle Trust Bank. All rights reserved.