Cash ISA
The Marsden Cash ISA is a Cash Individual Savings Account which is a simple way to make the most of your tax free savings. The interest on the account is tax free subject to compliance with the ISA Regulations
Interest rates - Marsden cash ISA (from 22 March 2011)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £20,000+ | 1.10% | 1.10% | n/a |
| £10,000+ | 0.85% | 0.85% | n/a |
| £1+ | 0.50% | 0.50% | 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: | Instant access, subject to normal operating limits displayed in branch. Transfers of an ISA to another ISA |
| Access: | Branch |
| Minimum opening balance: | £10 |
| Maximum investment: | Up to £5,340 in the current tax year |
| Cash ISA transfers: | Yes, previous years cash ISA subscriptions can be transferred |
| Eligibility: | Customers aged 16 or over who are resident in the UK (or certain Crown Employees and their spouses / civil partners) |
| Interest payment: | Paid annually on 5 April |
|
Payment account |
No |
To view the cash ISA 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.
