Interest rates viewable here.
If you are opening a new ISA and also want to transfer an ISA to Kingdom Bank, please complete section 4 of the ISA application form, with the required details. If you have more than one ISA to transfer to Kingdom Bank, then print out and complete an ‘ISA transfer’ form for each additional ISA being transferred. On receipt of the completed form(s) we will contact your ISA provider to arrange the transfer and will let you know when it is completed.
The interest rate is linked to Bank of England Base Rate (‘Base’) as follows:
Changes to the rates will become effective on the working day following the announcement of a change in the Base Rate and will be notified in accordance with the General Terms and Conditions. Interest accrues on the daily balance at the rate notified to you from time to time. Interest is compounded to the account on 5th April each year.
As this account pays a variable rate of interest it can change over time. Changes to the rates will become effective on the working day following the announcement of a change in the Base Rate.
If you deposit £1000.00 when you open the account, the balance after 12 months will be £1,000.00.
If you deposit £2,500.00 when you open the account, the balance after 12 months will be £2,502.50.
If you deposit £9,000.00 when you open the account, the balance after 12 months will be £9,031.50.
You must be 16 or over, resident in the UK for tax purposes and have a national insurance number.
You can only open this account in your sole name.
You must open the account with at least £1.
No account can be opened until a correctly completed, signed and dated application form is received in the post together with our other standard Account opening forms and our performing all preliminary identification and other checks to our satisfaction.
You can transfer an ISA you have with us or another bank. Call us to find out how to transfer an ISA.
If you have already saved into another cash ISA this tax year, you will need to do an ISA transfer and move over the money you saved in this tax year. This includes cash ISAs with us or another bank.
Deposits can be added at any time, by post, standing order or your own internet banking.
Information can be requested on the phone but all instructions should be sent to us in the post.
As with all ISAs, there are some rules:
You can make withdrawals from this account. One withdrawal of up to £3,000.00 in any 35 days rolling period can be made without notice. Any additional withdrawals or withdrawals in excess of £3,000 will have a 35 days notice period.
If you are unable to wait the 35 days notice period, we permit early withdrawal at our discretion and any charges on transfer before maturity or notice period served (in accordance with our terms and conditions).
All withdrawals must be made to an account in the same name. We will not permit a withdrawal to a third party by any method.
Savings terms explained
Tax free means you will not pay income tax on your interest.
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our savings glossary.