Cash ISA Bond
Tax-free interest on your savings
The Bank of Cyprus UK Cash ISA Bond helps you make the most of your savings. You get a guaranteed rate of interest, and it's tax-free*.
With most savings accounts, tax is deducted from the interest you earn. But with a cash ISA, you can invest up to £5,100 for the 2010/2011 tax year and you won't pay any tax on the interest earned.
Features and benefits
• Competitive tax-free fixed interest rates
• Fixed terms of 1, 2 and 3 years available
• Minimum opening deposit is only £1
• Top up your ISA during the tax year (subject to a minimum of £250 per deposit)
• Transfer in previous tax years' ISAs to maximise your savings
• Interest is paid at maturity
• Apply online, by phone or post
Take a look at our rates
Our current interest rates are shown below and are guaranteed for the term of the Cash ISA Bond.
|
Fixed Term |
Guaranteed interest rate |
Minimum deposit |
Interest paid |
|
1 year |
2.45% AER |
£1 |
Annually |
|
2 years |
2.80% AER |
£1 |
Annually |
|
3 years |
3.00% AER |
£1 |
Annually |
These rates are guaranteed for the duration of the fixed term of your ISA for deposits being made now. If we change our rates at a later date, the new rates will apply to any additional deposits or transfers-in you make at that time.
These great rates are available for your 2010/11 tax year ISA allowance. If you have already used this allowance, you can also transfer your existing cash ISAs to Bank of Cyprus UK to benefit from these rates.
Loyalty rates for existing Bond and Cash ISA Bond customers
As one of our existing Bond or Cash ISA Bond customers¹ you can earn an even better rate of interest on our Cash ISA Bond Click here to find out more
How do I apply for a new Cash ISA Bond?
To apply for a Cash ISA Bond, you need to be 16 years or older and a UK resident.
Please read the Cash ISA Bond Key Features and conditions before you apply.
Online
You can apply via our secure online application form. We wil send you an email confirmation for your records when your Cash ISA has been opened and the funds have been received.
Apply now
By Phone
Call us on 0845 850 5555** between 9.00am and 5.00pm Monday to Friday or between 9.30am and 12.30pm on Saturdays.
By Post
Once you have read the conditions above, please print and complete the Cash ISA Bond application form by clicking the link below.
Return your application to:
Bank of Cyprus UK
Customer Service Centre
PO Box 17484
87 Chase Side
London N14 5WH
If you are a new customer to Bank of Cyprus UK, you must also send us the documentation specified in the Cash ISA Bond application form to open your account. If a personal cheque is provided it must be drawn on a UK bank account in your own name.
In person
Visit our branch in Southgate.
Documents needed for verification of identity
In accordance with industry regulations we will need to verify your identity and address. We may do this by making electronic checks and/or asking you for documentary evidence. Proof of identity could be a copy of a passport or driving licence. Proof of address could be a copy of a bank statement or utility bill. Any documents you send us should be copies certified by a bank, a solicitor or an accountant
You can deposit your funds in the following ways:
Direct Debit - the direct debit section in the Cash ISA Bond application form must be completed for us to debit your account.
Debit card - your debit card details can be completed in the Cash ISA Bond application form, or if you are applying by phone, we will ask you for your debit card details.
Electronic transfer (BACS/CHAPS/SWIFT) or via your bank's internet banking service, quoting the following details:
Sort code 300042
Account number 92010004
Account name Bond Deposit Collection Account
Reference quote your initial, surname and 'BOCISA'
Cheque - this should be dated and made payable to yourself. If applying by post, remember to include your cheque with the Cash ISA Bond application form.
The Bank of Cyprus UK Cash ISA Bond is a strictly limited offer and may be withdrawn at any time without notice. Should you have any queries please do not hesitate to contact Customer Service on 0845 850 5555*** or email customerservice@bankofcyprus.co.uk.
Important information:
You are restricted in the total amount you can invest in ISAs so opening a cash ISA will limit the amount you can invest in a stocks and shares ISA.
You cannot make partial withdrawals from the Cash ISA Bond during the term. Early closure or transfer is permitted before the end of term but will mean the loss of 180 days' interest on the amount withdrawn. Please remember, annual ISA subscription limits apply so even if you make a withdrawal you can still pay in only the maximum of £5,100 this tax year.
*Tax-free means exempt from income and capital gains tax. The tax treatment depends on your individual circumstances and may be subject to change in the future.
**AER stands for Annual Equivalent Rate; it illustrates what the interest rate would be if interest were paid and compounded each year and allows you to easily compare different offers.
***Lines are open 9.00am to 5.00pm Monday to Friday and 9.30am to 12.30pm Saturdays. Calls may be recorded for monitoring purposes.
¹ Our loyalty rates are only available to customers who opened a Bank of Cyprus UK Bond or Cash ISA Bond on or before 5 April 2010.
0845 850 5555, +44 20 8267 7343
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