About Hodge Bank savings accounts

What is a nominated bank account?

A nominated bank account is the account you register when you open your Hodge account. In order for us to keep your money safe, and protect against fraud, we only accept deposits from this account, and we will always transfer money back to this account, whether that’s interest payments, withdrawals or at maturity.

What is the current interest rate on your accounts?

Our current interest rates can be seen here, or you can call our Customer Service Team on 0800 028 3746 and we can confirm them for you.

The minimum deposit amount depends on the type of account you open with us. Our ISA minimum deposit is £1,000, Junior Cash ISA’s £500 and Fixed Rate and Notice Accounts £1,000.

Are there any age-restrictions on Hodge ISAs?

You must be an individual aged 18 or over and you must be resident in the UK (excluding the Channel Islands and the Isle of Man) for tax purposes.

How much money can be withdrawn from an ISA?

To access your account before the end of the fixed rate period, an exit fee will be charged. You can transfer all of your account at any time by writing to us, however there will be a fee for the withdrawal, details of which will be outlined in the Terms & Conditions of your account. Partial withdrawals are not available.

How many ISA’s can I have?

You cannot open more than one Cash ISA, one Stocks and Shares ISA and one innovative finance ISA in each tax year. Apart from that restriction, there are no limits on how many you can have. So if you opened one ISA every year for 10 years, you could have 10 ISA’s.

Can I roll my ISA allowance over into the next tax year?

No, if you don’t use it, you lose it.

How much can you invest in an Junior Cash ISA each year?

The tax year runs from 6th April to 5th April the following year. The 2018 – 19 ISA allowance is £4,260 which can be saved in any combination of cash, stocks and shares and/or peer-to-peer investments. Hodge only offers cash ISA’s.

How much can you invest in an ISA each year?

The tax year runs from 6th April to 5th April the following year. The 2018 – 19 ISA allowance is £20,000 which can be saved in any combination of cash, stocks and shares and/or peer-to-peer investments. Hodge only offers cash ISA’s.

What is the difference between a variable and fixed rate account?

A variable rate offers you a rate of interest that can go up and down. With a fixed rate, you know in advance what your interest rate will be over your selected account term.

What type of products do you offer?

We offer a range of deposit accounts, you can find a full list of our accounts here.

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