CASH_ISA

Cash ISA Account

If you haven’t subscribed to this year’s ISA allowance or you don’t have a Cash ISA with Stafford Railway, it could be a great way to get into the savings habit and utilise the existing tax legislation on tax free savings accounts. You can only save in your own name.

Account name Minimum account balance Interest rate Notice period on withdrawal Availability Other
information
Cash ISA Account £1 3.60% None

Private individuals only.

  None

Account Name

Cash ISA Account

What is the Interest Rate?

3.60% gross and AER effective from 01/10/2023

Can Stafford Railway Building Society change the interest rate?

Stafford Railway Building Society has the right to change interest rates in certain circumstances. If we change the rates we will give you 14 days’ notice. Please refer to the  savings terms and conditions for further information on these circumstances

What would the estimated balance be after 12 months?

£1,036.00

This projection assumes that £1,000 is deposited in to the account at the time it is opened. No further deposits or withdrawals are made. The interest rate stays the same for
the full 12 months.

Estimated balances are for illustrative purposes only.

How do I open and manage my account?

  • Apply Online
  • The account can be opened in branch, online or by post.
  • This is a passbook based account and can be operated in branch or by post at members own expense.
  • Available to private individuals only.
  • Available to UK residents only.
  • Limits apply to cash deposits and withdrawals (see  Cash ISA terms and conditions).
  • This is not a flexible ISA product.
  • Minimum deposit £1.
  • Maximum deposit as per current ISA year allowance.
  • Minimum Balance: £1
  • Maximum Balance: £450,000.

Can I withdraw money?

  • Cash withdrawals are limited to £2,500 each day.
  • No notice is required for cash withdrawals up to £500. A minimum of 24 hours notice for cash withdrawals up to £2,500.
  • Withdrawals can be made by post (cheque only) and must include a signed letter requesting the amount needed by cheque and who the cheque is made payable to and the passbook. A cheque will only be made payable to the account holder(s).
  • Faster payments are available to a nominated bank account in the holder(s) name.
  • Minimum withdrawal allowed by cheque is £10.
  • Minimum CHAPS withdrawal £5,000 and will incur an administrative fee.
  • Withdrawals can be made in branch with the passbook.
  • Withdrawals will not be allowed without the passbook.

Additional information

  • Only one account of this type per person.
  • We pay all savings interest gross, which means no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.
  • In accordance with ISA regulations, investments in any tax year are limited to the amount permitted by HM Revenue and Customs regardless of the level of withdrawals made.
  • Tax free - the contractual rate of interest payable where interest is exempt from income tax. Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your
    individual financial circumstances.
  • It’s worth noting that any of our accounts can be withdrawn from sale at any time and without notice.

Other general savings information