Everyday Cash ISA (Issue 2)

Everyday Cash ISA (Issue 2)

The interest rate paid on the account will be paid as below:

Rate effective from 22 April 2026.

Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance. Interest is calculated each day on the available money in your account and is paid on 5 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.

• You must be 18 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 need to pay money into your account within 30 days of opening it. If you don't we'll close the account.
• You'll need to keep a minimum of £1 in your account to get the interest rate.
• Your current year subscriptions must not exceed the annual Cash ISA allowance.
• You can only pay into one ISA with Saffron per tax year.
• You can transfer money from a Cash ISA with another bank or building society. You'll need to complete and return an ISA Transfer Authority form via email, post or in branch, within 15 days of opening your account.
• Transferring ISA funds from another provider into Saffron can take up to 15 days from when we receive your request. This may take longer if your funds have a notice period.
• The overall maximum that can be held in this account is £500,000.00.
• You can manage the account online, on the mobile app, in branch, by post, by phone, on webchat.
• Cash ISA Transfers from other providers are 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 Cash ISA at Saffron 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.

New fraud rules from 7 October 2024 mean that with this product, you're eligibility to claim for fraud has changed. For more information please click here.

If we delegate any of our functions or responsibilities under this agreement to someone else, we will satisfy ourselves that the person or organisation we delegate to will be competent to carry out those functions and responsibilities.