Summary box and eligibility
Before you start, please read the summary box below, the Key Information Pack, which includes the Key Features and Terms and Conditions of the AA ISA, to make sure this account is right for you
If you already hold an AA ISA, simply log in to your account and open new products from there. Any additional products you open will be part of your existing AA ISA. You can only subscribe to one cash ISA each tax year.
|Account Name||AA ISA|
|What is the interest rate||Holding Account||
Easy Access Issue 13
|Interest Rate||Fixed Rate Issue 12|
|Interest Rate without bonus||0.25% tax-free*/ AER** variable||0.20% tax-free*/ AER** variable||1 Year Term||2 Year Term|
|Interest Rate with Bonus||N/A||1.06% tax-free*/ AER** variable
(includes a fixed bonus of 0.86% for the first 12 months)
|0.90% tax-free*/ AER** Fixed||0.90% tax-free*/ AER** Fixed|
|Annual interest, calculated daily, will be paid March 20th each year||Annual interest, calculated daily, will be paid on the anniversary of product opening.|
|Can Bank of Ireland UK change the interest rate||
Yes, we have the right to change the interest rate on your account. The reasons we may change your rate are outlined in the Interest Rates section in the Variable Interest Rates section of the Terms and Conditions.If we change your interest rate to your disadvantage, we will notify you personally up to 14-days before the change takes effect, as long as you have at least £100 in your account.
No, the interest rate is fixed during the term of the account.
At the end of the fixed term the value of the Fixed Rate, along with any interest earned, will be paid into the Holding Account of the AA ISA, where it will earn a variable rate of interest.
|What would the estimated balance be based on a £1,000 deposit?||After 12 months||£1,002.50||£1,010.60||After 12 months||£1,009.00||N/A|
|After 24 months||N/A||£1,012.62||After 24 months||N/A||£1,018.08|
These assumptions are based on a £1,000 deposit with no further deposits or withdrawals during the months of the projection. Projection based on annual interest option with interest paid into the Account (compound interest).The projection is provided for illustrative purposes only and does not take into account your individual circumstances.
|How do I open and manage my account?||
Opening your account
Managing your account
|Can I withdraw money?||
|The AA ISA does not have flexible features. This means that once withdrawn to your Nominated Account, your money will lose the tax advantages of ISAs and cannot be replaced in your account without affecting your annual ISA allowance.
Partial transfers are not permitted, and you will not be able to transfer individual products held in your AA ISA. You can, however, transfer your AA ISA in full to another ISA at any time. If you transfer your AA ISA and you have money in a Fixed Rate product which is in its fixed term, a Breakage Charge will be applied to that product.
You cannot cancel individual products in your AA ISA. However, you can cancel your entire AA ISA within 14 days from the date your account is opened. If you do this, your AA ISA and any products in your account will be closed.
|Additional Information||The Holding Account may pay a lower rate of interest than other variable or fixed rate products you can hold within your AA ISA. As such, it should be considered as a short term home for your cash ISA savings. If you are using the Holding Account to consolidate or split your cash ISA savings before opening a specific product, there is a risk that the product or rate of interest you wanted will no longer be available by the time any funds are received.
* Tax-free means the interest paid will be free of UK Income Tax and Capital Gains Tax.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
A few things to have to hand before you apply
- Your Bank or Building Society Account details – we'll link these to your AA ISA so you have somewhere to make withdrawals to.
- Your National Insurance number.
- Your Debit Card – if you want to make a deposit by Debit Card.
- Your existing ISA details to hand – if you want to transfer-in an ISA you hold elsewhere.