Our Easy Access ISA is an instant access, tax-free savings account. You can pay in whenever you want while having the peace of mind that you can take money out immediately if you need to.
This account can be withdrawn at any time.
Perfect if you...
- Want instant access to your savings
- Want to withdraw your funds as and when you need to
- Want to earn tax-free interest
Just remember...
- ISA transfers from other providers are not permitted for this account
- You will need a minimum of £1 to open the account
- You must be a UK resident aged 16 or over
- You must provide a valid email address and mobile number
Summary box
Easy Access Cash ISA (Issue 2)
The interest rate paid on the account will be paid as below:
| Minimum balance | Interest | Tax-free p.a./AER* |
| £1.00 | Annually | 3.50% |
Rate effective from 26 July 2023.
Interest is calculated each day on the available money in your account and is paid on 5th April every year.
The interest rate for this account is variable. This means we can change it at any time. You can find full details in our Savings Terms and Conditions.
If your account falls below the minimum balance, the interest rate we'll pay you will reduce to 0.05% Gross p.a/AER variable*.
This is based on no further money being paid in or taken out of the account and no change to the interest rate.
| Balance | Tax-free p.a./AER* | Balance at 12 months |
| £1,000.00 | 3.50% | £1,035.00 |
- You must be 16 or over and a UK resident to have this account.
- You must provide your National Insurance number.
- You can open the account online, in branch, by post. If you choose to open your account online, we'll need your email address and mobile phone number.
- You'll need to keep a minimum of £1 in your account to get the interest rate.
- The maximum amount you can pay into this account is your annual ISA allowance.
- You can manage the account online, on the mobile app, in branch, by post, by phone, on webchat.
- You must not have subscribed, partially or fully, to another Cash ISA within the same tax year.
- ISA Transfers from other providers are not accepted.
- You can switch from another Saffron ISA (subject to the accounts Terms and Conditions).
Yes, you can take money out of this account anytime, sticking to our daily withdrawal limits. This means you can also close your account anytime.
If you close your account having paid some or all of your annual ISA allowance in, you can't open another ISA at Saffron or elsewhere within the same tax year.
Saffron Building Society is not a Flexible ISA provider. This means you can't replace the money you have taken out, before the end of the same tax year, without it affecting your annual ISA allowance.
You can transfer this ISA elsewhere, subject to your new provider's conditions, by contacting your new provider.
Our Savings Promises provide you with additional peace of mind, including penalty-free access to your money if your life circumstances significantly change (e.g. serious illness, redundancy, etc). For more information please click here or ask us.
Interest will be paid tax-free, provided your account meets HM Revenue & Customs (HMRC) ISA regulations. If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax to HM Revenue & Customs (HMRC). For more information visit gov.uk.
* Interest Rate definitions: Gross is the interest rate without the tax deducted. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year.
Where the Savings Terms & Conditions are inconsistent with the account-specific rules and criteria, these account-specific rules and criteria will apply and will take priority.
- Where you do not subscribe to the maximum limit in a tax year, you cannot carry over the unused limit to the following tax year
- By investing in this cash ISA, you will be limiting the amount you can invest in the other types of ISAs
- You can switch from another Saffron Building Society ISA (subject to the original account's terms and conditions)
- Saffron Building Society is not a flexible ISA provider
- If you close your account, and have made a subscription to the account during the current tax year, the ISA rules do not allow you to open another cash ISA in the same tax year
- Interest will be paid tax-free, provided your account meets HMRC ISA regulations
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