+ +Tax Free Rate is the rate of interest payable, under current legislation, where interest is exempt from tax.

^ AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

We always try to provide a first-class service. Occasionally however things can go wrong. If they do we will try to put them right. If you wish to make a complaint, our complaints procedures are detailed in the Terms & Conditions for Savings Accounts.

If you would like to talk to us about your account you can

• • • • speak to a member of staff at our branch office at 7 King Street, Penrith, Cumbria. CA11 7AR
      • Call one of our team on 01768 863675
      • Email our savings team at savings@penrithbs.co.uk
      • Visit our website www.penrithbs.co.uk

DOWNLOAD SUMMARY BOX AS A PDF

DOWNLOAD THE TERMS AND CONDITIONS FOR SAVINGS ACCOUNTS

Key Features of the 1 Year Fixed Rate E-ISA (Issue 1)

The Financial Conduct Authority is a financial services regulator. It requires us, Penrith Building Society, to give you this important information to help you decide whether our 1 Year Fixed Rate E-ISA (Issue 1) is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference.
An ISA can be a Cash ISA, a Stocks and Shares ISA, an Innovative Finance ISA or a Lifetime ISA (LISA). Here at Penrith Building Society we only offer Cash ISA savings accounts and the ISA explained in this leaflet is a Cash ISA. We also offer an Additional Permitted Subscription (APS) ISA and a Junior ISA, please ask in branch for separate details and terms and conditions.
If you are an adult, then in any tax year you can pay into one Cash ISA, one Stocks and Shares ISA, one Innovative Finance ISA and one Lifetime ISA (LISA). You can save up to the limit in any type or a combination of all four. Your ISAs can be with the same provider if they offer all types or with different providers. A tax year runs from 6th April in one year to 5th April the following year.

There is no tax to pay on your Cash ISA interest and this does not count towards your Personal Savings Allowance, for more information on this please visit www.gov.uk and search for Personal Savings Allowance.

Eligibility
To apply for a 1 Year Fixed Rate E-ISA (Issue 1) you must:

• Be an individual age 18 or over
• Be resident in the United Kingdom or, if not so resident, be performing duties as a 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
• Provide a National Insurance number and date of birth
• Provide confirmation of identity and address, details of identification requirements are available in branch or online at www.penrithbs.co.uk
• Not have exceeded the overall subscription limit.
• In certain circumstances we will accept applications signed by somebody acting on behalf of a physically or mentally incapacitated investor
• A 1 Year Fixed Rate E-ISA (Issue 1) cannot be opened before a valid application form is completed and held by us.

General Operation

• The Penrith Building Society 1 Year Fixed Rate E-ISA (Issue 1) is only available online
• The minimum opening deposit and operating balance is £1,000
• Transfers into the 1 Year Fixed Rate E-ISA (Issue 1) are permitted
• You may transfer your 1 Year Fixed Rate E-ISA (Issue 1) to another provider, this can be transferred in full or partial transfer from this account.
• Payment of the funds into your account can only be made in £ sterling from your Nominated Bank Account.

Can I transfer my Cash ISA from another provider to the Penrith Building Society?
Yes, the 1 Year Fixed Rate E-ISA (Issue 1) accepts both full and partial transfers up to the account limit.

Can I transfer my Penrith Building Society Cash ISA to another provider?
Yes, subject to the new ISA Manager agreeing to accept the transfer. Transfers to other Cash ISA providers are permitted and are subject to the terms of your fixed rate ISA. If you ever wish to transfer your Penrith Building Society Cash ISA to another provider you will need to complete a Cash ISA Transfer Application form with your new provider, who will forward the request to us..

What if I change my mind?
You have 30 days after the date that your account is opened to change your mind. You can cancel your investment by letting us know in writing during this period and your cancelled Cash ISA will not count as an ISA subscription. Any interest that you have earned on your savings during this period will be paid gross.

Are you a new customer to Penrith Building Society?
If you are a new customer, you will need to provide some form of identification and verification of address. Details of acceptable documentary evidence accompany this factsheet. You will also need to provide us with your National Insurance number.

The Financial Services Compensation Scheme
Penrith Building Society is a participant of the Financial Services Compensation Scheme (FSCS) and your deposits are protected under this scheme.

For further information about the compensation provided by the FSCS, refer to the FSCS website at www.fscs.org.uk

Complaints
The Society always tries to provide a first class service. Occasionally, however, things can go wrong. If they do, we will try to put them right. If you wish to make a complaint, the Society’s complaints procedures are detailed in the Terms and Conditions for Investments Accounts booklet.

Further Information
Information on ISAs can be obtained from the HMRC ISA Helpline on 0300 200 3312, or by visiting www.gov.uk/individual-savings-accounts

General Terms & Conditions

• You must be, and must remain, the beneficial owner of the funds in the account. The account cannot be used as security for a loan
• The Society does not have to recognise the interest or claim of any person other than the account holder in respect of money held in any account, nor will the Society be liable in any way for failing to recognise such interest or claim, except as required by law
• The holder of a Penrith Building Society 1 Year Fixed Rate E-ISA (Issue 1) is a member of the Society and as such is bound by the Rules of the Society as they apply from time to time. A copy of the Rules can be obtained on request on opening the account. In the event that a member loses his/her copy of the Rules and wishes to obtain a replacement, a nominal charge of £1.00 will be levied
• Penrith Building Society will satisfy itself that any person to whom it delegates any of its functions or responsibilities under the terms agreed with the investor is competent to carry out those functions and responsibilities
• These conditions should be read in conjunction with the Society’s Digital Terms & Conditions, which also contains details of the Society’s complaints procedures. It is important that the details set out in both this document and the booklet are read through carefully before you open the account
• The account must not be a joint account or held on behalf of a person other than the account holder
• The account will be operated in accordance with prevailing rules and regulations and legislation, which may, of course, be varied from time to time by the Government
• Penrith Building Society will notify you, if by reason of any failure to satisfy the provisions of the ISA regulations, your Penrith Building Society 1 Year Fixed Rate E-ISA (Issue 1), has, or will become void
• The minimum operating balance is £1,000
• On instructions received from you, your 1 Year Fixed Rate E-ISA (Issue 1), with all rights and obligations, shall be transferred to another ISA manager in accordance with the ISA Regulations relating to transfers. On receipt of your transfer instructions from your new ISA Manager, we will send your funds and accompanying information to them within 5 business days from the date of receipt
• On your instructions and within the time stipulated by you all the investments held in the 1 Year Fixed Rate E-ISA (Issue 1) and the proceeds arising from those investments shall be transferred or paid to you