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2 Year Fixed Rate ISA

Summary Box

For the 2016/2017 tax year your Santander ISA must be opened by 9pm on 5 April 2017. If you want to use some or all of the 2016/2017 ISA allowance of £15,240 you need to pay in before midnight on 5 April 2017.

Account name 2 Year Fixed Rate ISA
What is the interest rate?

Term
 
Tier
 
AER/tax-free (fixed) AER based on funds deposited by   Maturity date 
2 Year Fixed Rate ISA  2 Year Fixed Rate ISA for 1|2|3 World or Santander Select customers 
2 years £500+ 0.55%  0.80% 01.04.2017* 01.04.2019

Interest is calculated daily and added to this account on 1st April annually.

* Interest may be earned before this date provided the account is open and funded.

Can Santander change the interest rate?  No, the interest rate is fixed during the term.
What would the estimated balance be after 24 months based on a £1,000 deposit?
Account name Interest earned Balance after 24 months
2 Year Fixed Rate ISA £11.03 £1,011.03
2 Year Fixed Rate ISA for 1|2|3 World or Santander Select customers £16.06 £1,016.06

Estimates assume the account is opened and deposit is made on 1st April.

At the end of term
We’ll  contact you around 14 days before maturity to tell you your options. If we don’t hear from you we’ll transfer your account to an ISA Saver, currently paying 0.10% AER/tax-free (variable) for balances of £1+ and 0.50% AER/tax-free (variable) for balances of £10,000+.

Estimated balance of ISA Saver after 12 months:

Maturing account balance transferring to ISA Saver Interest earned Balance after 12 months
2 Year Fixed Rate ISA – £1,011.03 £1.01 £1,012.04
2 Year Fixed Rate ISA for 1|2|3 World or Santander Select customers - £1,016.06 £1.02 £1,017.08

 

Estimates assume no further deposits or withdrawals made and no change to interest rates.

These illustrations are only examples and don’t take into account individual circumstances.

How do I open and manage my account? To open the account you must be:
  • a UK resident, account can only be held in single name; and
  • aged 16 or over.

To be eligible for the higher interest rate you must be a 1|2|3 World or a Santander Select customer at point of opening.

Opening

  • Online and Mobile.
  • Call on 0800 032 4264.
  • Visit any Santander branch.

ISA transfers
You can transfer in existing ISAs held with external ISA providers, applications must be received within 14 days of account opening and the funds in the ISA which you are transferring from must be available to be transferred within 30 days of account opening.

Santander cash ISA transfers in are allowed, applications must be received by 30th April 2017.

You can transfer the full balance of your ISA to another provider at any time, a charge equivalent to 120 days' interest will be applied. You will need to contact your new ISA provider to arrange the transfer.

Deposits
Minimum opening balance of £500. You can open the account with a zero balance if you are transferring in existing ISAs with a balance of at least £500.

The ISA allowance for the 2016/17 tax year is £15,240. For the 2017/18 tax year it is £20,000. Deposits for the 2016/2017 tax year can be made up to and including 5 April 2017. Deposits for the 2017/2018 tax year can be made from 6 April 2017, up to and including 30 April 2017. No subsequent additional deposits allowed.

This 2 year fixed rate ISA is a cash ISA. Please be aware that if you make deposits for the 2016/2017 and/or 2017/2018 tax year which are less than the full ISA allowance for that tax year, you won’t be able to pay into another cash ISA in the same tax year to use the remaining allowance.

For the 2016/2017 tax year you can subscribe your ISA allowance into a cash ISA, a stocks and shares ISA and an innovative finance ISA or a combination of the three.

For the 2017/2018 tax year you can subscribe your ISA allowance into a cash ISA, a stocks and shares ISA, an innovative finance ISA and a lifetime ISA or a combination of the four. Santander do not offer innovative finance ISAs or lifetime ISAs.

For example, if you subscribe to this Fixed Rate ISA you won't also be able to subscribe to one of our other cash ISAs (including fixed rate ISAs, variable rate ISAs and Help to Buy: ISA) this year tax year.

A tax year runs from 6th April in one year to 5th April the next.

This product doesn’t accept additional permitted subscriptions.

Manage the account

  • Branch and telephone. View only in Online and Mobile Banking.
  • A certificate or email confirmation will be issued after account opening.
  • Statements are issued annually in March.
Can I withdraw money?

Partial withdrawals aren’t allowed. You can withdraw money by closing the account; a charge equivalent to 120 days’ interest will be applied.

Any money that you withdraw yourself from your Santander ISA will lose its tax-free status and if repaid back into an ISA, will count towards your current tax year’s ISA limit.

We aren’t offering additional flexibility on ISAs but some providers are offering this feature. Those providers may allow you to replace funds that you have withdrawn with them without affecting the ISA limit.

Additional information

You can cancel the account within 14 days of opening and your money will be returned in full with interest.

The favourable tax treatment of ISAs may change in the future. 

 

The 2 Year Fixed Rate ISA is subject to availability. Rates and information correct as at 13 March 2017.
 


Please read the full product details and terms & conditions before applying. Other accounts are available; see our ISA range to find out more
 

 

Transferring an ISA from another provider

To transfer in an ISA from another provider please complete one of the forms below. The cash ISA transfer form can be completed and submitted online. If you're transferring into a Fixed Rate ISA with us, we need to receive your transfer form within 14 days of account opening.

Please consider the following before deciding to transfer your ISA to us:

We don't charge a transfer fee but other providers may. You can transfer some or all the money that you have paid into an ISA in previous tax years. If you wish to transfer money that you have paid into an ISA in the current tax year, you will need to transfer all of the amount you have paid into the ISA in the current tax year. Any money that you withdraw yourself from your ISA will lose its tax free status and if repaid back into an ISA will count towards your current years ISA allowance. Santander isn't providing advice as to whether transferring your ISA(s) is right for you. Transferring certain types of ISAs could affect the bonus you receive and you could be charged by your existing provider.

If you transfer an ISA in full to Santander and have built up previous tax year flexible allowances with your current provider, you will lose that allowance when you move to Santander. If you wish to use the flexible allowance you should re-deposit into your existing ISA before you transfer to Santander.

Cash ISA Transfer Form

Stocks and Shares ISA Transfer Form (pdf)

Innovative Finance ISA Transfer Form (pdf)

Transferring an existing cash ISA held with Santander

If you hold more than one Santander cash ISA, using the Santander Cash ISA Transfer Form below, you can simply combine any balances into a single cash ISA. To transfer in to a new Fixed Rate ISA, we need to receive your transfer application by 30 April 2017.

Santander Cash ISA Transfer Form (pdf) 

Once you have completed the relevant ISA transfer form, please send to the following address:

Any funds withdrawn from your cash ISA without using the above processes will be considered a withdrawal and will lose their tax free status.  If you replace these funds back into an ISA they will count towards your current tax year ISA limit.

ISA Customer Services
PO Box 1112,
9 Nelson Street
Bradford, BD1 9NR

Please be aware that the ISA manager for Santander cash ISAs is Santander UK plc and for stocks and shares ISAs is Santander ISA Managers Limited. This means that transfers between Santander cash ISAs and Santander stocks and shares ISAs should be treated as transfers between ISA providers.

Your money, your way
You choose how you bank with us.

Online Banking
Secure, 24/7 banking. Make payments, view statements and much more. For more information find out more.

Watch our Online Banking videos to learn more.

Mobile Banking
Bank from anywhere using our apps or by using m.santander.co.uk. For more information find out more.

You can see the interest rate on your cash ISA in the mobile app - just click on the account when you're in the app.

Watch our Mobile Banking videos to learn more.

Text me the app

Telephone Banking
24/7 banking by phone. Speak to an advisor during the day and in the evenings or use our automated service any time of day. Call us on 0800 9 123 123.

Branch
You can visit our extensive branch network to speak to us.

Free text and email alerts
You don’t have to wait for your statement to arrive or to log on to find out something has happened on your account anymore. When you set up account alerts we send you a text, email or both when it happens, for example if your balance goes above or below a certain amount. Learn how to set up alerts

Find out more
Online Banking
Mobile Banking
Telephone Banking
Account Alerts
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Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

To view these documents, you may need to download Adobe Reader 

Please read full product details and terms & conditions before applying.

You can apply for the 2 Year Fixed Rate ISA if you:

  • are at least 16 years of age

  • are a UK resident

To get a higher rate of interest on your 2 Year Fixed Rate ISA you must also be a 1|2|3 World or Santander Select customer.

A Santander 1|2|3 World customer is someone who holds one of our 1|2|3 current accounts, 1|2|3 Credit Card (including additional card holders) or the 1|2|3 Mini Account (in Trust). Trustees are not classed as 1|2|3 World customers. All customers must meet the eligibility for each product and 1|2|3 World offer. Find out more about 1|2|3 World

To join Santander Select you must have a current account with Santander and meet one of the following criteria: pay your main income of at least £5,000 per month into a Santander current account (excluding transfers from other Santander accounts), or maintain £75,000 in any Santander investment(s), savings or current account, or have a property worth at least £500,000 with a Santander mortgage.
Find out more about Santander Select.

You will need your National Insurance number to apply

If you already have a Santander cash ISA, you can keep your existing account number and sort code by upgrading your cash ISA

Existing fixed rate ISAs are eligible to upgrade within 28 days of maturity. If your cash ISA is due to mature we will have recently sent you a letter confirming the maturity date. Your product details and new interest rate will change with immediate effect following the ISA upgrade being processed. If you do not wish to upgrade your account now, please submit your request at a later date 

For the 2016/2017 tax year your Santander ISA must be opened by 9pm on 5 April 2017. If you want to use some or all of the 2016/2017 ISA allowance of £15,240 you need to pay in before midnight on 5 April 2017.

Please ensure you select the correct button below. If you select the wrong option it may result in you receiving the incorrect interest rate or the account being closed.

Not a 1|2|3 World or Santander Select customer 1|2|3 World and Santander Select customers

Apply now for the 2 Year Fixed Rate ISA. Link opens in a new window

Apply now for the 2 Year Fixed Rate ISA for 1 2 3 World or Santander Select customers. Link opens in a new window

Upgrade to the 2 Year Fixed Rate ISA. Link opens in a new window

Upgrade to the 2 Year Fixed Rate ISA for 1 2 3 World or Santander Select customers. Link opens in a new window

Apply by phone
Call us on 0800 032 4264. Lines are open 8am to 9pm Monday-Friday and 8am to 4pm Saturday.

Apply in branch
Find your nearest branch or call 0800 085 1553 to make an appointment. Lines are open 8am to 9pm Monday-Friday and 8am to 4pm Saturday.

Rates and information correct as at 13 March 2017.

Frequently asked questions

  • If it's a Cash ISA you want to transfer from another provider, simply complete and submit the Cash ISA transfer form. Alternatively, you can visit your local Santander branch. Some of our ISAs may not allow transfers in so please check the terms and conditions.

     

    Once we've received the completed form from you, we'll need to contact your existing provider, so please allow up to 15 days for a Cash ISA transfer to take place, starting from when we have received the transfer form. 

     

    To transfer your Santander Cash ISA to another provider, you will need to contact your new ISA provider.

     

    If you hold more than one Santander cash ISA, you can use the Santander Cash ISA Transfer Form (pdf), to combine any balances into a single cash ISA. If you are transferring in to a Fixed rate ISA with us, we need to receive your transfer application within 14 days of account opening.

  • To find your savings interest rate you can use our Interest Rate Finder.

    If you hold a Fast Access, SIPP Fast Access, Special Reserve, Cash ISA (TOISA), Retirement Investment Account (ANRIA), Santander Shareholder Account, Treasurers Instant Saver or Charity Investment Account, details of your interest rates can be found here.

  • All our ISAs allow access to your money but there may be restrictions or charges that vary depending on which ISA it is that you hold.
    Be aware that if you take money out, and you wish to put it back later, this will count against your annual ISA allowance for that tax year. This means that if you have already used up your annual ISA allowance, any money you take out cannot then be put back in during the same tax year.

     

    Santander ISAs don’t offer additional flexibility. Take a look at our information pages to learn more.

  • Can't find what you are looking for? More help can be found at on the ISA FAQs page.

AER explained
AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

Tax Free explained
The tax free rate is the rate of interest payable where interest is exempt from income tax.

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