ISAs

Look after your savings with a tax-free Cash ISA account from Hodge.

Our products

Apply for a Hodge ISA quickly and easily online, either with new money or by transferring funds from an account with another provider.

Take a look at our Cash ISAs

1 Year Fixed Rate Cash ISA – Online Only  (4.96%)

2 Year Fixed Rate Cash ISA – Online Only  (4.62%)

3 Year Fixed Rate Cash ISA – Online Only  (4.36%)

5 Year Fixed Rate Cash ISA – Online Only  (4.01%)

About our ISAs

If you’d like to make tax-free savings, a cash ISA could be the right choice for you, it could even help you get more out of your money. Here are some of the key things you should know before deciding if an ISA will work for you.

What is a cash ISA?

A cash ISA is an individual savings account which works like a standard deposit account, but with one big difference – you won’t pay income tax on the interest you earn. Each tax year, you’ll get an ISA allowance that lets you save a certain amount of money tax free. 

How do cash ISAs work?

You get an ISA allowance of £20,000 per year to deposit into your ISA, and the interest paid will be free from income tax as long as you don’t deposit more than the allowance. It’s quick and easy to open a Hodge account online, and once open, you’ll have 14 days to fund your account.  

How does a fixed rate ISA work?

A ‘fixed rate’ is a guaranteed interest rate for a set length of time. During that time, you won’t be able to access your money unless you pay an early access fee. Usually, the longer the fixed rate period, the higher the interest rate, making it great for those with long term saving goals. 

 

 

Key features

  • Choose a 1, 2, 3, or 5 year term
  • Get a guaranteed interest rate when you apply
  • Open and manage your account online
  • Deposit a minimum of £1,000 up to £1,000,000 within 14 days of opening your account
  • Earn tax-free interest (subject to your personal allowance)
  • Transfer money from another cash ISA provider

The details

  • Your interest rate is guaranteed – even if we change our rates, the rate you’re given when you apply is the one you’ll get for the full term
  • Earn tax-free interest up to the personal allowance – the annual tax-free ISA allowance is £20,000 for the 2023/24 tax year
  • You have 14 days to fund your account – after those 14 days, you won’t be able to add any more money. If you don’t add the minimum amount of £1,000 in time, we’ll close your account
  • You can only transfer money from a nominated account in your name – let us know your nominated bank account at time of opening, then transfer the money directly from that account. The quickest way is via electronic transfer
  • There’s a 14 day cancellation period – if you change your mind, you can cancel your Fixed Rate ISA within 14 days of opening it
  • If you need to, you can close your ISA early – you’ll be able to access your money early if needed, but you’ll be charged a fee.

Cash ISAs explained

Want to transfer your ISA to an account with us?

Choose your ISA

Look at our range of cash ISAs, choose which one suits you best and hit apply. You can only transfer from another cash ISA.

Apply online

Complete the application process online. Next, you’ll be given your account number and we’ll send you a Transfer Authority Form to sign – or you can download it and return it to us. That’ll give us permission to transfer your money.

Sign the form

Once you’ve signed and returned the Transfer Authority Form, we’ll apply for the transfer from your other provider, and that’s it!

More on ISAs

Once you’ve decided on your new cash ISA with us, as part of your application you can tell us which accounts you’d like to transfer. You can only transfer from another cash ISA. Once you’ve completed your application you can either choose to download, have emailed or sent to you in the post a pre-populated ISA Transfer Authority Form. This form is to let your old ISA provider know that you’ve given permission to transfer your money to your new Hodge account. All you have to do then is sign and return it to us. You won’t have to let your old ISA provider know – we’ll take care of the rest.

Once we have your signed Transfer Authority Form it will take up to 15 working days for us to complete the transfer of your cash ISA. It may take longer if your existing ISA funds are subject to a notice period.

Once you’ve completed your application, you have 10 days in which to send us your signed ISA Transfer Authority Form. Once we have your signed form, working with your existing provider, it could take up to 15 working days for us to complete the transfer of your cash ISA. It may take longer if your existing ISA funds are subject to a notice period.

Yes you can – once you’ve decided on your new ISA with us, simply complete a separate application for each existing account you want to transfer and tell us which of your existing ISA accounts you wish to transfer. Once you’ve completed your application you can either choose to download, have emailed or sent to you in the post a pre-populated ISA Transfer Authority Form. This form is to let your old ISA provider know that you’ve given permission to transfer your money to your new Hodge account. All you have to do then is sign and return it to us. You won’t have to let your old ISA provider know – we’ll take care of the rest. Remember, you can only pay new money into one ISA per tax year.

Once we have your signed Transfer Authority Forms it will take up to 15 working days for us to complete the transfer each of your cash ISAs. It may take longer if any of your existing ISA funds are subject to a notice period.

Once all your funds have been received, you can choose to either merge them into a single ISA account with us or keep them in their separate accounts. If you want to merge them, simply give us a call and let us know and we’ll take of it for you.

If you’re a UK resident over the age of 18 and have some cash to save, then yes, you can apply for a Hodge personal cash ISA. There is a minimum deposit requirement of £1,000, so this might be the right account if you’re saving for a larger event or one off payment purchase, like a holiday or wedding. 

The ISA subscription limit remains at £20,000 for anyone eligible to invest. The full allowance can be saved in a cash ISA or stocks and shares ISA with one provider or split between the two. At Hodge, we don’t offer a stocks and shares option.

Tax-free savings: Cash ISA accounts help your money grow long term. The interest you’ll earn is free of tax duties which means you can make the most of your hard-earned cash.

You know how much you’ll earn: With a fixed rate cash ISA, you’ll always know where you stand. You can be confident your savings are growing and know exactly how much interest your money is earning and the total sum you’ll get at the end of the fixed term.

FSCS protection: By choosing our fixed-rate ISA account you’ll have peace of mind that your cash will be protected up to £85,000 by the Financial Services Compensation Scheme. The eligibility criteria can be found here

We’ve made it quick and simple for you to transfer your cash ISA from a different provider into a new account with Hodge. We don’t accept transfers from Stocks and Shares ISAs. Once you’ve chosen your ISA, you can let us know as part of your application whether you’re transferring your old ISA to us, or opening one for the first time.

Once you’ve chosen your ISA and started the application, you’ll need to let us know if you’re transferring from a different provider. We’ll then explain the next steps including downloading your Transfer of Authority form and returning it in the post or as a PDF via email.

We’ve made it as simple as possible for you to set up online banking with us. When you apply for your ISA, you’ll let us know about the transfer, and register for an online account at the same time. You’ll then use those details to manage your account in future.

Once you’ve decided on your new ISA with us and started your application, you’ll fill out a simple ISA Transfer Authority Form. This is to let your old ISA provider know that you’ve given permission to transfer your money to your new Hodge account. We’ll pre-populate the form for you with all the information we need, and send it to you either via email for you to print out and sign, or by post – whichever’s easiest for you. All you have to do then is sign and return it to us. You won’t have to let your old ISA provider know – we’ll take care of the rest.

Useful Information

Protecting your money

Your eligible deposits with Hodge Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

Terms and conditions

You can download our savings account terms and conditions below.