5 Year Fixed Rate Cash ISA

Product Summary

Account Name

5 Year Fixed Rate Cash ISA

What is the interest rate?

• 3.95% Gross*/AER** – Annual
• 3.88%Gross*/3.95% AER** – Monthly

Interest is calculated daily. Annual interest is paid on the anniversary of account opening. If you choose to have your interest paid monthly, interest will be paid from one calendar month following the receipt of your initial deposit through to the end of the term.

Glossary of Terms

• *Gross: Is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. The payment can be made annually or monthly.
• **AER: AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.

Can Hodge Bank change the interest rate?

No, the interest rate is fixed for the term.

What would the estimated balance be after 60 months based on £1,000 deposit?

£1213.73

This is based on one initial deposit of £1,000 into the account at the time it is opened, with no further deposits or withdrawals, with interest paid annually and added to the account. This projection is provided for illustrative purposes only and does not take into account the individual circumstances of a customer.

How do I open and manage my account?

You can open your account online. Accounts opened online can be managed via our internet banking.

You will need to pay in your initial deposit to your account within 14 calendar days of account opening. The minimum deposit for Cash ISA is £1,000 and the maximum is £20,000 in Current Tax Year (April – March). All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process. The easiest way to fund your account is via Bank Transfer.

We use a payments provider called Modulr. When making a payment to your new Hodge account, you may notice a reference to Modulr Finance when setting up payee details. This allows you to confirm you’re paying the correct amount and means we receive your payment more quickly.

To be eligible for a Hodge savings account, you must be:

• aged 18 years or older
• be a UK resident
• hold a UK National Insurance number
• hold a valid email address
• hold a valid UK mobile number
• hold a UK current account in your name

The maximum amount that may be held by you with us across all products may not in aggregate exceed £5,000,000 but we may waive this limit at our absolute discretion.

Can I withdraw money?

You can withdraw your funds before maturity of the ISA however a fee is applicable for early access which is equivalent to 365 days tax free interest.

Additional information

You can’t transfer your money from other Cash ISA providers.