The interest rate is variable. Interest is calculated on a daily basis and paid into this account on the 5^th April each year.

Please refer to section 7 of the Savings Account General Terms and Conditions for details on how we calculate interest.

Details of our full range of products and current interest rates are available on request at our branches, by telephone 01257 235003 or from our website www.chorleybs.co.uk/savings

Interest Rate Definitions

1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to the account once each year
2. Tax-free – Interest will be paid exempt of UK income tax.

This account has a variable rate of interest and is subject to change; this means we may increase or decrease interest rates at any time. If we reduce the interest rate and you have at least £100 in your account, we will give you 14 days notification prior to the change and you will have a period of 30 days from the date of the notification to switch or close your account.

Please refer to section 7 of the Savings Accounts General Terms and Conditions for further information on how and why we may change the interest rate.

Based on the current rate of interest, if you opened this account and deposited £1,000, after 12 months your estimated balance would be £1,037.50.

This projection is for illustrative purposes only and does not take into account your individual circumstances. The projection is based on no additional deposits, withdrawals or changes in interest rate within the 12 month period.

• The account cannot be a joint account or held on behalf of a person other than the investor.
• Available to eligible UK residents over the age of 16 only who:
  • Are resident in the United Kingdom or, if not resident, be performing duties as Crown employee serving overseas and paid out of the public revenue of the United Kingdom (typically a serving member of the armed forces, or a diplomat), or be married to, or in a civil partnership with, such a person;
  • Have not subscribed to another Cash ISA in the tax year; and
  • Have not exceeded the overall ISA subscription limit.
• To open an account you will need to apply online, in branch or by post and let us have;
  • a fully completed Chorley Cash ISA Account application form;
  • at least the minimum deposit of £1; and
  • proof of your identity, address and residency
  • funds within 15 calendar days for accounts opened via Chorley Online. If no funds are received the account will be closed.
• The ISA subscription limit from 6 April 2023 to 5 April 2024 is £20,000 and this allowance can be split between a cash ISA, a stocks and shares ISA, an Innovative Finance ISA, a lifetime ISA and a Help to buy ISA, subject to eligibility. Once the amount deposited in any tax year reaches the maximum annual investment limit no further deposits are allowed until the following tax year. Please note the Society only offers cash ISA products.
• Transfers in from other Chorley Building Society Accounts are permitted.
• Transfer Out – This Cash ISA can be transferred into another provider’s Cash ISA or a Stocks and Shares ISA subject to 60 Days’ written notification being served. We will forward the funds to the new ISA provider within 15 business days of receiving your instruction from them.
• Transfer In – Full and partial transfers-in from other ISA providers are allowed. On receipt of a transfer instruction from you we will forward it to your existing ISA provider, together with a confirmation that we will accept the transfer, within 15 business days of the date of receipt. Current year subscriptions must be transferred in full and previous years subscriptions can be full or partial transfers. Once we receive the funds and transfer information, we will credit the funds to the Cash ISA account within 3 business days of the date of the receipt. Interest will be earned from the day after the funds are credited.
• Under current ISA regulations it can take up to 15 business days to complete the ISA transfer request.
• This product can be opened and managed in branch, by post, and via Chorley Online. Please refer to the Society’s Savings Accounts General Terms and Conditions and Chorley Online Terms and Conditions.
• This is a limited issue and the Society reserves the right to withdraw this product without notice at any time.

You may withdraw by cash, cheque or CHAPs* (*subject to a £25 fee), transfers out to other ISA providers can also be made. All are subject to either 60 days written notification being received by the Society or 60 days loss of interest on the amount withdrawn/transferred.  Notifications by email cannot be accepted.  You can also request an online payment from this account, to a nominated bank account or to any of your Chorley accounts, providing these are in your own or joint names. The notice period of 60 days will automatically be applied to online payment requests.

Cheques requested by post or online for withdrawals or closures will be issued within 48 hours of receipt and posted 1^st class to the account holder.

Withdrawal conditions apply; please refer to section 9 of the Savings Account General Terms and Conditions and section 7 of the Chorley Online Terms and Conditions for further details.

Our 60 Day Notice Cash ISA is not a ‘Flexible ISA’. This means that all your deposits within the tax year count towards your ISA allowance, regardless of whether or not you make any withdrawals.

• Please refer to the Important Information section below.
• What are the risks? The Government can change the taxation treatment of ISAs at any time without prior notice.
• Interest is paid tax free on this product. Your tax treatment is dependent on your own personal circumstances and may be subject to change in the future.

Operation in accordance with ISA Regulations

The operation of the account is subject to the applicable provisions of the ISA Regulations. The Society will notify you if, by reason of any failure to satisfy the ISA Regulations, the ISA has, or will, become void.

The Society will satisfy itself that any person to whom it delegates any of its functions or responsibilities under the terms agreed with you is competent to carry out those functions and responsibilities.

If you are found to have breached the ISA rules governing subscription limits or the number of Cash ISAs which may be opened in any one year, or your application is incorrect, your Cash ISA will cease to be exempt from tax and any interest earned in that year will be subject to tax.

Please note that the ISA investments will be, and must remain in, the beneficial ownership of the investor and must not be used as security for a loan.

Death of the Account Holder

In the event of your death no further investments will be allowed in your account. However, tax benefits of the ISA can continue until the earlier of;

• Administration of the deceased’s estate is complete
• The ISA is closed
• 3 years after the date of death

Residency

You must notify the Society if you cease to be resident in the UK or if not resident, cease to perform duties as a Crown employee serving overseas or to be married to, or in a civil partnership with a person who performs such duties which allows you to subscribe to a Cash ISA. The Cash ISA will continue to be exempt from UK tax but no further subscriptions can be made until you meet the residency requirements again.

Changing your mind

In respect of this 60 Day Notice Cash ISA, in order to protect your interests, we offer you a 14 day cooling off period from the date you open your account in which you can change your mind. If you cancel an account within the above period we will help you to either switch to another of our accounts or we will refund your money to you within 30 days of your notification of cancellation together with any interest that has been earned. Should you change your mind about this 60 Day Notice Cash ISA please send written notification of your cancellation to us at Head Office, Key House, Foxhole Road, Chorley, PR7 1NZ.

What to do if you’re not satisfied

If you are not satisfied with our services we operate an internal complaints procedure. A copy of this procedure is available online at www.chorleybs.co.uk or you can ask in any of our branches for details of this procedure. If we cannot settle your complaint you may refer your concerns to the Financial Ombudsman Service.

Before applying for any of the above accounts please ensure you read the following:

• The Summary Box of the account you are applying for (featured above) or download the pdf here
• Savings Accounts Terms and Conditions
• Tariff of Fees and Charges
• FSCS Information Sheet and Exclusions List

Please also refer to our Identification Criteria in case we need to request more information from you

For all ISA transfer requests into Chorley Building Society please also complete an ISA transfer form

If applying by post, please ensure you print and sign before returning your application to the following address:

Savings & Investment Department
Chorley Building Society
Key House
Foxhole Road
Chorley
Lancashire
PR7 1NZ