Two Year Fixed Rate ISA - Issue 32 | Secure Your Savings

Product Details

Account name

Two Year Fixed Rate ISA Issue 38

What is the interest rate? AER*

4.05% annual interest rate

Interest is paid annually on the anniversary of the account opening date.

(*AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year)

Can Dudley Building Society change the interest rate?

The interest rate on this account is fixed for the two year term. The Society does not have the right to change this interest rate during the two year term.

What would the estimated balance be?

If you were to open this account with £1,000 and no further deposits or withdrawals were made, you would earn £40.50 interest each year. If you chose to have interest compounded, this would result in a total balance of £1,082.64 at the end of the term. This is due to earning interest on your interest each year.

Please note this is an illustration only and does not reflect your specific circumstances.

How do I open and manage my account?

Who is eligible?

This account is available to new and existing customers over the age of 18 who are personal savers resident in the UK.

How do I operate my account?

Any queries regarding your account can be dealt with via branch, email or telephone. Instructions on your account are required in person, at branch or in writing.

How do I open my savings account?

You may open your account at any one of our branches or via post.

What is my minimum opening and operating balance?

£100

What is my maximum operating balance?

£500,000

What is my maximum investment?

The maximum annual subscription is limited by HMRC and is £20,000 for the current tax year. This amount can be invested in either a Cash ISA or a Stocks & Shares ISA or be divided between the two. The maximum overall subscription must not exceed £20,000.

Can I withdraw money?

No withdrawal or account closure is permitted during the two year term following account opening, unless it is an ISA transfer out. A penalty of 80 days interest will be charged for all ISA transfer out requests and notice cannot be served. At the end of the product's term, you can invest in another account with the Society or withdraw your money. Prior to your account maturing, we will provide you with details of other accounts available. If you do not tell us what you would like to do with the funds in your account, they will be transferred into a holding account, but you may not receive the same interest rate.

Additional Information

ISA transfer in requests will be permitted within 14 days of the account open date. After this date, an ISA transfer in cannot be completed. Additional subscriptions are permitted to add the full ISA allowance for the tax year until the 5th April of the current tax year. After this date, no further subscriptions are permitted.

To find our more about our ISA transfer procedure, visit our ISA transfers page linked below.

ISA Transfers

Further information about ISAs can be obtained on the HM Revenue & Customs website www.hmrc.gov.uk

Application forms