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A quick introduction to our Fixed Cash ISA Account
Plan your tax-free growth with our Ford Money Fixed Cash ISA
Please use our calculator as an estimate only, it does not consider your individual circumstances.
1 Account closure, withdrawals and transfers-out are permitted. However, a term breakage charge* will be applicable it is during your fixed term and outside of your cancellation period. See the Product Terms and Conditions for further information.
Current Interest Rate: Fixed Cash ISA 1 year - 4.00% AER* (Tax-Free*) (4.00% Gross* yearly, 3.93% Gross* monthly)
From the day we receive your initial deposit, your Fixed Cash ISA will earn interest daily, based on the balance at the end of each day. This is calculated as 1/365th of the yearly rate. Transfers from existing Cash ISAs usually take 15 business days to show in your account.
Interest can be paid yearly or monthly and can be paid into:
No – your rate is fixed for the length of term for which you apply. You will receive at a minimum the interest rate shown at the time you applied. If we increase our rate before you make your first deposit, you’ll receive the new higher rate.
For a Fixed Cash ISA 1 year: £1,040.00 based on £1,000 over 1 year at 4.00%
This example is given for illustrative purposes only and it doesn’t reflect your specific circumstances. It’s based on no extra money being moved in or out of the account and assumes that your interest is being added to the account. The estimated balance is based on the yearly interest rate.
Open and manage your account online. Move money in from your Connected Account or from an existing Ford Money account. You must open the account with at least £500. Make sure to move this into the account within the first 21 days of opening the account.
Maximum balance up to £2,000,000 (excluding interest). This amount is combined across all the accounts you have with us. There are no limits on the number of times you can move money into the account (within the first 21 days of opening the account.) The maximum amount of new money you can put into a Cash ISA per tax year is set by HMRC ISA Guidelines.
Yes, however it will be subject to a term breakage charge. The only exception to this is if you exercise your right to cancel within 14 days from your first deposit showing in your account. The term breakage charge is taken off the amount we transfer back to you and will be equal to 90 days’ gross interest on the amount you put in the account, at the interest rate your account is earning. You can close or transfer out to another provider at the end of the term (at maturity) with no penalty.
Your savings are protected under the Financial Services Compensation Scheme (FSCS) Protection. It protects up to £85,000 (or £85,000 each, for joint account holders) of the money in your Ford Money accounts. If you have more than one account with Ford Money or share a joint account, the amount protected by the FSCS will be £85,000 across them all. For more information, visit the FSCS website.
Our Fixed Cash ISA offers the peace of mind of a fixed interest rate in return for locking your money away for a set amount of time, such as 1, 2, or 3 years (known as a term).
If you decide this product isn’t for you, you can cancel within the first 14 calendar days from the date your first deposit shows in your account. If exercise your right to cancel, you can open another Cash ISA with us or a different savings provider, up to your annual allowance for the tax year.
A Fixed Cash ISA is designed to be held for the entire term. If you choose to close the account or transfer out of it before the fixed term is over, it will be subject to a term breakage charge (unless you’re within your 14 day cancellation period). If the account is closed outside of your cancellation period, you won’t be able to re-open it or put money in another Cash ISA with us (or any other savings provider) in the same tax year. The term breakage charge is taken off the closing balance we pay you. It will be equal to a fixed number of days’ gross interest on the amount you withdraw, at the rate your account is earning. To work out your term breakage charge, find the relevant account term below, note the amount of days’ interest that will be charged and multiply this by your current interest rate.
If you withdraw from your Cash ISA after the 14 day cooling off period, you may get less back than you originally deposited. There are only three situations where we don’t apply a term breakage charge for cashing-in early:
You can split your Cash ISA annual allowance (the maximum amount of money you can put into a Cash ISA per tax year is set by HMRC guidelines) between any of our Cash ISA products. You can also hold multiple ISA accounts across different providers as long as you do not exceed the maximum amount set by HMRC in any one tax year.
If you need to transfer out the money you have put into your ISA account with Ford Money in the current year, you'll need to contact your alternative provider to determine if they will accept current year's subscriptions under the new HMRC guidelines.
Tax treatment is dependent on the personal circumstances of each customer and may be subject to change in the future.
The information provided above is a summary of the key features of the Ford Money Fixed Cash ISA and is not intended to be a substitute for reading the Product Terms and Conditions. Please make sure you have read the Product Terms and Conditions before applying
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Enter the required details, review the T&C's and then hit submit.
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£500. Make sure to transfer this within the first 21 days of opening your account so that the account remains open. If you transfer less than £500, we’ll return the amount to you and your account will be closed.
Yes, you can request to transfer current or previous ISA savings into your Ford Money Fixed Cash ISA during the application process. Or, if you already have a Cash ISA with us you can download a transfer form. Transfers must be completed within 21 calendar days of the date we receive your application.
We’ll be in touch around 30 days before your Fixed Cash ISA approaches the end of the fixed term and let you know what options you have and what actions you need to take.
You’ll normally have the option to:
You will have until 48 hours before your Fixed Cash ISA reaches the end of the fixed term to select your preferred option(s). If we don’t hear from you by then we’ll offer you another term of the same or similar length, and this will start automatically at the end of the fixed term. Of course, we’ll tell you about this and you’ll have a 14 calendar day Right to Cancel.
A Fixed Cash ISA is designed to be held for the entire term. If you require more flexibility with your ISA, you could consider our Flexible Cash ISA instead. If you choose to close this account or transfer out of it before the fixed term is over, it will be subject to a term breakage charge (unless you’re within your 14-day cancellation period). If the account is closed outside of your cancellation period, you won’t be able to re-open it or put money in another Cash ISA with us (or any other savings provider) in the same tax year.
The term breakage charge is taken off the closing balance we pay you should you close your account before the end of the fixed term (outside of your 14-day cancellation period). It will be equal to a fixed number of days’ gross interest on the amount you withdraw, at the rate your account is earning. To work out your term breakage charge, find the relevant account term below (e.g. 1 year), note the amount of days’ interest that will be charged (e.g. 90 days) and multiply this by your current interest rate (e.g. 4%).
| Term | Charge Period |
|---|---|
| 1 Year | 90 days |
| 2 Years | 180 days |
| 3 Years | 270 days |
Please note, if you withdraw from your Cash ISA after the 14-day cooling off period, you may get less back than you originally deposited.
There are only three situations where we don’t apply a term breakage charge for early account closure:
The ISA allowance for the current tax year is £20,000. You can split this across different types of ISAs you hold such as Cash ISA’s and Stocks and Shares ISAs. For more information, take a look at the Government guidance.
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We'd rather not use it, but just so you know, here's what some of the worst offenders actually mean.
Gross interest is the annual rate of interest you'll earn from a savings account before tax is taken off.
Tax-free means you are exempt from UK Income Tax. Tax treatment is dependent on the personal circumstances of each customer and may be subject to change in the future.
This means that on variable rate products, we promise you’ll always receive the same rate as new customers on like-for-like products. And on our fixed rate products, you’ll receive the interest rate shown at the time you apply or if we increase our product rate before you make your initial deposit, you’ll receive the higher interest rate.
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
This is a charge or loss of interest applied if you make a withdrawal from a Fixed ISA product.
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This site is intended for UK residents 16 years and over unless otherwise stated. Ford Money is not responsible for the content of external websites. Ford Money is a trading style of FCE Bank plc. which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 204469. Registered in England and Wales under registration number 772784 with registered address at Arterial Road, Laindon, Essex, England, SS15 6EE. Please do not contact this address for customer servicing. For ways to get in touch please visit Contact Us. You can confirm our registration on the Financial Services Register or by contacting the FCA on 0800 111 6768.
