Two Year Fixed Rate ISA (Issue 5)

£1+ 4.60% *AER

We calculate the interest daily and pay it to your account annually and on maturity.

*AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and compounded once each year. The gross rate is the interest rate payable before tax.

The interest rate is fixed, so it will not change for the length of the term.

For more details about when we might change one of our rates you should read our Savings Terms & Conditions.

£1,094.17

This would be the balance after 24 months if £1,000 was paid in, all interest was paid back into the account, there was no change to the interest rate and no money was taken out. This is just an example to help you compare accounts. It does not take into account what you may do with the money in your account.

You must live in the UK to open this account.

You can deposit a minimum of £1 but you can only pay in up to your annual subscription limit. The limit for 2024/25 is £20,000. Subscriptions can be split between multiple Cash ISAs and multiple Stocks and Shares ISAs up to the overall ISA allowance. We do not offer Stocks and Shares ISAs.

You can only have one of these accounts.

Rollover customers will need to complete an ISA Maturity Instruction Form to open this account. This will be provided to you prior to your existing Fixed Term ISA maturing. If you do not have one, you can contact out Customer Service department at savings@bibs.co.uk.

No passbook will be issued with this account, but customers will receive an opening certificate by email or post.

You cannot transfer your Cash ISA into this account.

You can withdraw cash on demand at up to £500 per day or electronically to your nominated bank account by next day faster payment, but we will make a charge equivalent to 180 days’ interest on all withdrawals.

Withdrawals by cheque can also be requested in any of our Branches.

This is not a flexible ISA. If you take money out of your account, it does not change the subscription limit. For example, if you put £2,000 in this account and take out £1,000, you can only put in another £18,000.

Partial transfers of current year and/or existing subscriptions are permitted to another ISA provider. You will need to fill out an application form with them. They will then communicate with us to arrange the transfer.

We will let you know the balance held in the account in the welcome letter. We will write to you again at least 14 days prior to the maturity of this product to discuss your next options for saving your money.

If we cannot offer a similar product, if you do not want a new product, or you do not tell us what you want to do with your money, the account will transfer into an Instant ISA account at the end of the term. You can fund out more about our Instant ISA account on our website.

This account allows for Additional Permitted Subscriptions (APS). This means that if a customer with an ISA dies, their spouse or civil partner can apply to use their allowance. You can find out more by talking to our Customer Support Department.

This account is protected by the Financial Services Compensation Scheme (FSCS). You should read your FSCS Information and Exclusions sheet for more information about how your money is protected.

This account is a savings account, not a payment account as outlined in the Payment Services Regulation 2017.

You should read your our Savings Terms & Conditions and ISA Terms and Conditions document to fully understand how your account works.

We can close an account at any time if you act inappropriately, such as by using abusive language.

This account can be withdrawn without notice.