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 fixed. The current available rate is 0.60% AER and interest accrues at the end of the term.
Interest is paid on the anniversary and at maturity.
As this account pays a fixed rate of interest. The product rates may change from time to time but your fixed rate will remain until the maturity of the product. For example we might review the interest rate if the Bank of England base rate changes.
If you deposit £2,000.00 when you open the account, the balance after 12 months will be £2012.00.
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 £2,000.00.
No account can be opened until a correctly completed, signed and dated application form is received in the post 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 to 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:
No withdrawals are permitted during the term of the deposit.
You may make deposit's in accordance with the ISA rules and subscriptions over both of the tax years that this product is fixed.
Any money you move to an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in future.
After 24 months, we will contact you to explain your options and next steps.
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.
No charges or penalties (except those referred to in out terms and conditions where we permit early withdrawal at our discretion and any charges on transfer before maturity or notice period served) apply to these accounts.
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.