Unfortunately, this deal has expired 2 minutes ago.
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Posted 6 October 2022

3.9% - 1 Year Fixed Rate Cash ISA Bond Min Balance £1000 Max Balance 250,000 @ Shawbrook Bank

£1,000
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Shared by ARJ11N
Joined in 2017
4
28

About this deal

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1 Year Fixed Rate Cash ISA Bond
Tax-free savings, with interest paid monthly or annually

Take advantage of your annual ISA allowance by choosing a fixed-rate bond with a competitive, guaranteed rate.

You can receive your interest monthly or annually, and you can transfer in other ISA balances up to the account maximum balance. If these balances are from previous tax years, you can still invest this year’s allowance for new savings. Should you need access to your funds early, you’ll need to pay a fee of 90 days' interest.


AER 3.90% Fixed / Tax-Free

Gross
3.9% Annually
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27 Comments

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  1. Avatar
    There are other bonds paying more but I guess the interest for non-isa bonds will be subject to tax? IF yes this is a good deal, I had savings with Shawbrook and everything was very straight-forward with them.
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    The other advantage of cash ISAs (other than the tax free status) is that it is a legal requirement for them to let you have access to your cash (albeit, you will lose some interest). "Normal" fixed bond savings accounts usually do not let you have access to your funds once deposited until the end of the fixed period.

    A much more niche benefit for ISAs is that the interest earned doesn't count towards your income if you have a child applying for Student Finance, whereas regular savings interest does - meaning that your child would be eligible for a higher maintenance loan
  2. Avatar
    Took this out yesterday. Given these uncertain times, it’s good to see savers benefitting a little.
  3. Avatar
    Very Good rate.Hot.
  4. Avatar
    So I have 20k in a isa a couple years old, I presume I can transfer this then add another 20k in this year? (edited)
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    Author
    Yes. Transfers are allowed with addition of this year's allowance
  5. Avatar
    If i took out a stocks and shares ISA but only used like £500 of it last year, can i "transfer" in more than £20k for this year?
  6. Avatar
    Switched to this yesterday from my 2 year Paragon fix I opened in April at a paltry 1.64%. Even with the Paragon penalty of 180 days interest it still works out better!
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    I applied to today, transferring last years allowance, gojng to add this years do you need to put money in the savings account first it mantions a esaver then transfer to isa ? i can only see my isa account online (edited)
  7. Avatar
    Can't wait to renew my bond in December
  8. Avatar
    i took this one yesterday and its a good deal
  9. Avatar
    Stuck £20k in an hour ago and still not showing. I'm sort of bricking it atm.
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    i put in £1 to test and it showed up 2 hours later, you will revive a text when it goes in (edited)
  10. Avatar
    Just curious so I've messaged them but not yet replied.

    From their small print:
    "You cannot open an ISA acting on behalf of an account holder with power of attorney, guardianship or intervention order."

    Does this mean the power of attorney cannot open an ISA in the power of attorney's name for the person they are attorney for (Joe Bloggs) or the PoA cannot open the ISA in Joe Bloggs name for Joe Bloggs?
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    I'm not sure, but a Google search of ' ISA Power of Attorney' came up with this from the Leeds BS :

    leedsbuildingsociety.co.uk/sav…ey/

    which seems to confirm that if you are a Regd PoA it means you can, subject to the listed conditions (which is what one would expect, surely?).

    The Shawbrook quote taken at face value seems to indicate that you can't in their case for some reason. Best to talk to them and confirm, probably. Either that, or they've mis-written it and meant to say without, rather than with?
  11. Avatar
    3.9 now
  12. Avatar
    Just opened the Shawbrook Bank 1 year fixed at 3.7% on 5th October, will they switch me to the new 3.9% without penalties if I ring them or am I stuck?
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    Ring and ask let us know , not sure if 14 day cooling off haven't got documents to hand
  13. Avatar
    Author
    Just for info - I called and they upgraded the interest rate from 3.7% to 3.9% while also keeping any interest earned during the short time I've held it at the 3.7% rate (edited)
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    they changed mine and the wifes too !
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