Saga Fixed Rate ISAs, provided by Birmingham Midshires, are Cash ISAs that give you a fixed rate of interest over a fixed term, so you know exactly what rate of interest your investment will receive. You are also completely protected against fluctuations in interest rates during the term of your investment so you will know exactly what you will earn.

Benefits of Saga Fixed Rate ISAs

• An attractive tax free return for your money with no risk to your capital
• Invest from £1 up to £5,100 in each tax year.
• You may transfer Cash ISA subscriptions from the current and previous tax years into the Fixed Rate ISA, providing the issue remains open. To qualify for the 2 year term, 3.60% AER rate your investment must incorporate transfers from previous years’ subscriptions.
• Choice of annual or monthly interest.

Saga Fixed Rate ISAs

		Annual Interest		Monthly Interest
Minimum balance	Term	Tax free p.a.%#	AER%*	Tax free p.a.%#	AER%*
£1	2 years	3.50	3.50	3.45	3.50
£30,000	2 years	3.60	3.60	3.54	3.60
£1	3 years	3.90	3.90	3.83	3.90

Rates correct as at 21 January 2010.

Things to note about Fixed Rate ISAs

• Available to UK residents aged 50 and over
• The maximum you can deposit in a Cash ISA in each tax year is £5,100. You can only invest in one Cash ISA in each tax year
• To take full advantage of this offer, your initial deposit should be for the full amount you would like to invest. This means we need a cheque from you for the amount you wish to invest in this tax year along with your ISA Transfer form (where applicable) that we will send to your current ISA provider.
• The term of the account will run from the date of the first deposit. Interest is calculated daily and paid annually on the anniversary of the first deposit and on the first day of each month for monthly interest
• Withdrawals are allowed subject to the following early access charges on the amount withdrawn. Loss of interest is dependent on the length of term remaining at the time of access. See Summary boxes for more information.
• Your account is operated by post
• If you open a Cash ISA and subsequently transfer it to a Stocks and Shares ISA, you can still invest any remaining allowance in a Cash ISA during the current tax year as long as you do not exceed the total investment limit allowed
• Each issue of this type of account has a limited amount of money that can be invested in it, so when this limit is reached the issue will be closed. This means once the issue is closed, you will be unable to add to your account in either this or future tax years
• Please remember that favourable tax treatment for ISAs may change in the future.

Saga Fixed Rate ISAs

For more information on Saga Fixed Rate ISAs please click below.

To apply please call the Saga Savings Team on 0845 850 0664