Direct cash ISA 30
The Marsden direct cash ISA 30 is designed for customers who have previous cash ISA savings over £4,000 and are able to give 30 days' notice of withdrawal in return for a higher rate of interest. The interest on the account is tax free subject to compliance with the ISA Regulations
Interest rates - Marsden Direct cash ISA 30 (from 22 March 2011)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £50,000+ | 2.75% | 2.75% | n/a |
| £35,000+ | 2.35% | 2.35% | n/a |
| £4,000+ | 2.00% | 2.00% | n/a |
| Key features | |
|---|---|
| Interest rates: | See above, rates are variable |
| Tax status: | Interest is tax free subject to compliance with the ISA regulations |
| Conditions for bonus payment: | N/A |
| Withdrawal arrangements: | 30 days' notice or 30 days' loss of interest, cheque or electronic transfer |
| Access: | Via the post or telephone. Not available in branch |
Minimum opening balance: |
£4,000 |
| Maximum investment: | Up to £5,640 in each tax year |
| Cash ISA transfers: | Yes, previous years cash ISA subscriptions can be transferred |
| Eligibility: | Customers who are resident and ordinarily resident in the UK (or certain Crown employees and their spouses / civil partners) |
| Interest payment: | Paid annually on 5 April |
| Record of investment: | No passbook will be issued. On opening the account you will receive a statement recording your first transaction. Further statements issued on 30 June and 31 December |
| Payment account: (Payment Services Regulations 2009) |
No |
To view the Direct cash ISA 30 terms & conditions, please click here
To view the general savings account terms & conditions, please click here
To view the individual savings accounts and building societies leaflet produced by the Building Societies Association, please click here
Gross means the contractual rate of interest payable not taking account of the deduction of income tax at the appropriate rate.
Net rates are illustrative only and allow for deduction from gross rate of income tax at the specified rate i.e. assuming rate of income tax at 20%.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
