Can I withdraw cash from a Fixed Rate ISA?

Can I withdraw cash from a Fixed Rate ISA?

Up until the Term Start date you can add or withdraw funds from your Fixed Rate ISA. After the start date, you’ll need to wait until the account matures.

Want to make a withdrawal after the cut-off, but before the maturity date? You’ll need to request to close your account by giving  written notice to your branch. An Early Closure Charge will then apply, except in the event you pass away.

The Early Closure Charge will:

  • Be the lower of the interest earned on your account, or 90 days’ interest
  • Be deducted from the balance of your Fixed Rate ISA.
  • The total amount you receive (including interest earned on your balance) will be no less than your deposit at the start date. For example, if you’ve earned 50 days’ interest, you will only pay an Early Closure Charge equivalent to 50 days’ interest. And if you’ve earned 100 days’ interest, you will only face a charge equivalent to 90 days’ interest.
  • Please note your Fixed Rate ISA account will not close this will be changed to an Cash ISA to protect your ISA tax free status.