ISAs

Our cash ISA accounts are a flexible, tax-free way of saving your personal money.

Our Products

Take a look at our Cash ISAs

1 Year Fixed Rate Cash ISA  (0.40%)

Account Name

1 Year Fixed Rate Cash ISA

What is the interest rate?

0.40 % Gross*/AER** – Annual
0.40 %Gross*/AER** – Monthly

Interest is calculated daily. Annual interest is paid at maturity.  Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

No, the interest rate is fixed for the term.

What would the estimated balance be after 12 months based on £1,000 deposit?

£1,004.00
This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & 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 or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Cash ISA  is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident and only liable for UK tax.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 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 90 days tax free interest.

We will write to you, before the end of your fixed term, to provide you with your options.

Additional information

Interest is paid gross, tax free.

When you open an account, you have 10 working days to transfer any funds in to that account.  If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

After these 10 working days, you are not able to make additional contributions to your ISA until maturity.

Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted.  Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing an ISA transfer form.  Transfer requests received after your initial account application may be refused

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.

If you make withdrawals before maturity, you may get back less than the amount you originally invested.

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.

2 Year Fixed Rate Cash ISA  (0.50%)

Account Name

2 Year Fixed Rate Cash ISA

What is the interest rate?

0.50% Gross*/AER** – Annual
0.50 %* Gross*/AER** – Monthly

Interest is calculated daily. Annual interest is paid on the anniversary of account opening. Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

No, the interest rate is fixed for the term.

What would the estimated balance be after 12 months based on £1,000 deposit?

£1,005.00

This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & 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 or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Cash ISA  is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident and only liable for UK tax.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 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 180 days tax free interest.

We will write to you, before the end of your fixed term, to provide you with your options.

Additional information

Interest is paid gross, tax free.

When you open an account, you have 10 working days to transfer any funds in to that account.  If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

After these 10 working days, you are not able to make additional contributions to your ISA until maturity.

Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted.  Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing an ISA transfer form.  Transfer requests received after your initial account application may be refused

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.

If you make withdrawals before maturity, you may get back less than the amount you originally invested.

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.

3 Year Fixed Rate Cash ISA  (0.60%)

Account Name

3 Year Fixed Rate Cash ISA

What is the interest rate?

0.60% Gross*/AER** – Annual
0.60% Gross*/AER** – Monthly

Interest is calculated daily. Annual interest is paid on the anniversary of account opening. Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

No, the interest rate is fixed for the term.

Based on £1,000 initial deposit, what would the estimated balance a 12 months.

£1,006.00

This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & 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 or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Cash ISA  is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident and only liable for UK tax.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 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 270 days tax free interest.

We will write to you, before the end of your fixed term, to provide you with your options.

Additional information

Interest is paid gross, tax free.

When you open an account, you have 10 working days to transfer any funds in to that account.  If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

After these 10 working days, you are not able to make additional contributions to your ISA until maturity.

Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted.  Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing an ISA transfer form.  Transfer requests received after your initial account application may be refused

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.

If you make withdrawals before maturity, you may get back less than the amount you originally invested.

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.

4 Year Fixed Rate Cash ISA  (0.65%)

Account Name

4 Year Fixed Rate Cash ISA

What is the interest rate?

0.65% Gross*/AER** – Annual
0.65%  Gross*/AER** – Monthly

Interest is calculated daily. Annual interest is paid on the anniversary of account opening. Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

No, the interest rate is fixed for the term.

Based on £1,000 initial deposit, what would the estimated balance after 12 months.

£1,006.50

This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & 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 or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Cash ISA is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident and only liable for UK tax.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 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 320 days tax free interest.

We will write to you, before the end of your fixed term, to provide you with your options.

Additional information

Interest is paid gross, tax free.

When you open an account, you have 10 working days to transfer any funds in to that account. If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

After these 10 working days, you are not able to make additional contributions to your ISA until maturity.

Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing an ISA transfer form. Transfer requests received after your initial account application may be refused

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.

If you make withdrawals before maturity, you may get back less than the amount you originally invested.

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.

5 Year Fixed Rate Cash ISA  (0.70%)

Account Name

5 Year Fixed Rate Cash ISA

What is the interest rate?

0.70% Gross*/AER** – Annual
0.70% Gross*/AER** – Monthly

Interest is calculated daily. Annual interest is paid on the anniversary of account opening. Monthly interest is paid on the last working day of the month.

Can Hodge Bank change the interest rate?

No, the interest rate is fixed for the term.

What would the estimated balance be after 12 months based on £1,000 deposit?

1,007.00

This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & 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 or by post.

Accounts opened online can be managed via our internet banking and also by telephone.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Cash ISA  is £1,000.

For deposits made by cheque, interest is calculated from the second banking day on which the cheque is credited to the account. Cheques are cleared in 2 banking days using the Image Clearing System. This system allows banks to clear a digital image of the cheque rather than the original paper cheque.

Account holders must be aged 18 or over and be UK resident and only liable for UK tax.

The maximum amount that may be held by you with us across all products may not in aggregate exceed £1,000,000 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.

We will write to you, before the end of your fixed term, to provide you with your options.

Additional information

Interest is paid gross, tax free.
When you open an account, you have 10 working days to transfer any funds in to that account. If, after 10 days, no funds have been received or the funds held in the account do not meet the minimum balance, then we will close the account and return any money held in the account.

After these 10 working days, you are not able to make additional contributions to your ISA until maturity.

Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing an ISA transfer form. Transfer requests received after your initial account application may be refused

All deposits in and out of your account must come from your nominated bank account, which you provide as part of the application process.
If you make withdrawals before maturity, you may get back less than the amount you originally invested.

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.

Junior Cash ISA

Take a look at our Junior Cash ISA

Junior Cash ISA  (2.00%)

Account Name

Junior Cash ISA

What is the interest rate?

2.00 Gross*/AER** – Annual

Interest is calculated daily.  Interest is paid annually on 31st August, or the first working day thereafter, and is added to the account.

Can Hodge Bank change the interest rate?

Yes.  If we change the rate, we will write to you giving you at least 90 days’ notice of the interest rate change.

Based on £1,000 initial deposit, what would the estimated balance after 12 months.

£1,020.00

This illustrative example assumes one initial deposit of £1,000, with no further additions with interest paid annually and added to the account. This projection is provided for illustrative purposes only & does not take into account the individual circumstances of a customer.

 

How do I open and manage my account?

You can open your account by post.

Accounts opened by post can be managed by post and by telephone.

The minimum deposit for a Junior Cash ISA is £500.

A child must be aged under 18, when the account application is made, and be resident in the UK.

 

Can I withdraw money?

No withdrawals are permitted until the child’s 18th birthday. Transfers to a new provider are permitted however a fee is applicable which is equivalent to 90 days’ tax free interest.

Additional information

Interest is paid gross, tax free

Transfers in, of the whole balance, from other Junior Cash ISAs are permitted.

Transfers in of all or part of the funds in a Junior Stocks and Shares ISA are permitted. We do not accept transfers in from Child Trust Funds.

At the age of 16 you can hold a Junior Cash ISA and a Fixed Rate Cash ISA but will only be able to subscribe to the Fixed Rate Cash ISA.

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.

Confirmation of Payee Information

Because Hodge isn’t part of the Confirmation of Payee Scheme yet, you might get a warning when you open your account and try to deposit money. It’s nothing to worry about – as long as you enter your details correctly your money will still reach us.

Find out more

Protecting your money

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

Find out more

Already have an existing ISA?

Unfortunately we are unable to accept ISA transfers online. If you have an existing ISA that you want to transfer, this can be done with an ISA Transfer application form.

Download form

About our ISAs

 

If you’re looking to make tax-free savings, a cash ISA account might be what you’re looking for. You can get more out of your money with a deposit account specially created for personal savings. Plus, it might also give you better interest rates than our other Hodge savings accounts. But there’s a few things you’ll need to consider before opening one.

Keep reading to find out more about cash ISA accounts and how they work.

What is a cash ISA account?

 

Cash ISA accounts are individual savings accounts working in the same way as standard deposits, with one difference: you don’t pay tax on the interest you earn. These accounts work well for depositing a substantial amount of money (you get an allowance of £20k to place in an ISA tax-free, each year) , the interest rates can make these accounts attractive to everyone with savings they want to grow. So, if you normally pay tax on your savings, it’s worth considering investing in this type of account instead.

What are fixed rate cash ISA accounts?

 

Fixed rate cash ISA accounts pay you a guaranteed interest rate for a set length of time, but you won’t be able to access the funds during that time, without paying a fee for early access. So, make sure you’re comfortable locking your money away for a period of time and you’ll enjoy the advantages of tax-free savings with fixed-rate cash ISA accounts.

Whether you want to keep your money growing long term at a good rate or are looking for savings accounts that allow you to access the money quickly and easily, weigh in all the options so you can find the solution that fits your circumstances the best. Keep in mind that in terms of both ease of access and earned rate of interest, fixed rate cash ISA accounts often sit in the middle, between fixed-rate personal bonds and notice savings accounts.

Who can open a personal cash ISA account?

 

Any UK resident aged 18 or over with spare cash can apply for a personal cash ISA account with Hodge. Be aware that fixed-rate cash ISA accounts can have a minimum deposits requirement. At Hodge, the minimum deposit is £1,000, making this savings account ideal if you’ve got bigger expenses planned for a set date, such as holidays, investing in a car or planning a wedding.

Current ISA Subscription Limits

 

With effect from 6th April 2021, the ISA subscription limit remained at £20,000 for anyone eligible to invest in an ISA. The full £20,000 of the new ISA allowance can be saved in a cash ISA or a stocks and shares ISA with one provider. It can also be split between a cash ISA and a stocks and shares ISA with either the same or another provider.

Please note Hodge Bank does not provide a stocks and shares ISA.

Current Junior ISA Subscription Limits

Further deposits may be added to the account up to the Junior Cash ISA allowance. The annual limit for the 2021/2022 tax year with effect from 6th April 2021 is £9,000. Up to £9,000 of the allowance can be saved in a Junior ISA.

Benefits of fixed rate cash ISA accounts

 


Tax-free savings:
Cash ISA accounts allow you to grow your personal money long term. The interest you earn is free of tax duties, which means you can make the most out of your hard-earned personal funds.

You know exactly how much you’ll be earning: With fixed rate cash ISA accounts, you’ll always know where you stand, so you can be confident you’re growing your savings in a safe and profitable way. At any given point you’ll 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: When you choose our fixed rate cash ISA accounts, you can have peace of mind knowing that your cash (up to £85,000) will be protected by the Financial Services Compensation Scheme (FCSC) (as long as you fit the eligibility criteria).