Choose from one of our other accounts below:
|Term||Balance||Gross rate (%)||AER (%)|
|12 months||£1,000 - £250,000||1.68||1.68|
Minimum deposit to open an Account: £1,000
Maximum balance: £250,000 across all OakNorth accounts
The Cash ISA allowance for 2018/2019 tax year is £20,000. Funds can also be transferred from existing ISAs as long as the total balance of your OakNorth savings accounts does not exceed the £250,000 limit.
Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month.
No. The interest rate is fixed during the term.
|Term||Initial Deposit at account opening||Balance after 12 months|
This is only an example for illustrative purposes and does not take into account your individual circumstances.
This example assumes that the account remains open during the selected term, and that any interest earned stays in the account.
The term of the account and thus interest accrual will start on the business day that we receive your first funding. Any subsequent funding (within the first 30 days from account approval) will add to the total balance, and interest will be calculated on the minimum daily balance and applied to the account on the first day of every subsequent month.
Our accounts are available to individuals, aged 18 or over, who are ordinarily resident in the UK (i.e. England, Wales, Northern Ireland and Scotland) and have a UK residential address. Also, you must have a personal UK bank or building society account that allows transfers to be made to and from it.
Applications to open an account must be completed online.
The maximum deposit for this account is the current tax year allowance for ISAs. In addition or alternatively, you may transfer existing Cash ISAs from other providers into this account. These limits are subject to HM Revenue & Customs rules. You may make additional deposits up to the current ISA tax year allowance.
You can transfer Cash ISA balances from the current tax year as well as previous tax years. Please note: If you have already contributed to your Cash ISA in the current tax year and would like to transfer from the current tax year’s allowance, you must transfer the full amount. The maximum amount that you may hold on deposit with us across all types of accounts is £250,000.
Upon account approval, you will have 30 calendar days to fund your account via new deposit and/or Cash ISA transfer before your account will expire and be closed.
You have the right to cancel the account within 14 days from account approval. If you are transferring in a Cash ISA from an external provider and choose to exercise your right to cancel before the transfer is completed, the funds will stay with the original ISA provider; if you choose to exercise your right to cancel after the transfer, no interest will be paid on your funds and we will await your instructions on where to remit the funds.
Once you activate online banking, your account can be managed via the ‘My Account’ section of our website.
If for any reason you need to contact us, this can be done by email, by phone or by writing to us. Please refer to our website for our contact details.
Yes. You can withdraw funds from your Fixed Rate Cash ISA via online banking by going to the ‘My Account’ section of our website. Alternatively, you may email us at firstname.lastname@example.org or call us at 0330 380 1181 to withdraw funds.
Your money can be returned to your nominated account or transferred to another ISA provider. Please note, if you would like to transfer your ISA out, you will need to contact your new ISA provider and instruct them to request a transfer from us.
There is a minimum withdrawal amount of £1,000, or the balance amount if the account balance is less than £1,000.
There will be a withdrawal charge equal to 90 days of interest on the amount withdrawn.
We will deduct the charge from the balance in your account when the withdrawal is made, and you therefore may get back less than you originally deposited. If after withdrawing funds where the balance goes to £0, and remains £0 for a period of 6 months, the account will be closed.
You can close or transfer your balance to another ISA provider at the end of the fixed term with no penalty.
We retain the right to pay a reduced rate of interest during any period when the account balance is below the minimum amount permitted for the product.
This is not a flexible Cash ISA, so any money withdrawn cannot be replaced.
30 days before your account matures, we will send you an email asking if you want to:
If we do not hear from you before the account maturity date, the total amount will be automatically transferred to an OakNorth Easy Access Cash ISA. See our Easy Access Cash ISA deposit account page for the current interest rate.
Interest is tax-free, and doesn’t count towards your Personal Savings Allowance.
The AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.
Please note: The information provided in the summary box, is a summary of the key features of our Fixed Rate Cash ISAs. It should not be used as a substitute for our terms and conditions which can be found on our website.
Choose from one of our other accounts below:
Your eligible deposits with OakNorth 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 in regards to eligible deposits, please view our Exclusions and Information sheet below.
For further information on fscs protection visit fscs.org.uk or view the leaflet below.FSCS leaflet Exclusions and Information sheet