Members reward ISA (issue 1)
The Marsden Reward 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. The account is available exclusively to existing Marsden members who have a minimum of 5 years continuous membership with the Society at the date the account is opened
Interest rates - Marsden reward ISA (issue 1) - from 02 April 2012
| Balance | Gross | AER | Net |
|---|---|---|---|
| £50,000+ | 2.75% | 2.75% | n/a |
| £35,000+ | 2.35% | 2.35% | n/a |
| £5,000+ | 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: | Instant access, subject to normal operating limits displayed in branch. |
| Access: | Branch |
| Minimum opening balance: | £5,000 |
| Maximum investment: | Up to £5,640 in the current tax year |
| Cash ISA transfers: | Yes, previous years cash ISA subscriptions can be transferred |
| Eligibility: | Existing Marsden member with 5 years continuous membership. Customers aged 16 or over who are resident and ordinarily resident in the Uk (or certain Crown employees and their spouses/civil partners) |
| Limited issue 1: | This product may be withdrawn without notice at any time |
| Interest payment: | Paid annually on 5 April |
|
Payment account |
No |
To view the Members Reward 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.
