Our Regular Saver Cash ISA

Please note this product is not currently available to new applicants.


Our Regular Saver Cash ISA offers the peace of mind of a fixed interest rate for a set period of 12 months (known as a term). The interest rate is guaranteed for the whole term and during this time you can invest between £25 and £250 a month (in any number of deposits), up to a maximum balance of £3,000.

The Regular Saver Cash ISA is designed to be held for the entire term.

Should you need to make a withdrawal, transfer out or close your account after the initial 14 day cooling off period, it will be subject to a term breakage charge. Click here to see details of this.

Your Regular Saver Cash ISA is classed as a Flexible ISA. Flexible ISA rules allow you to withdraw and replace money from the same ISA account in the same tax year without losing any of your tax-free entitlement. This means that any amount you withdraw will be added to your remaining allowance figure on this account for the tax year. A term breakage charge will apply. Click here to see details of this.

If you’re 16 years of age or older, a UK resident taxpayer with a National Insurance number then you’re eligible to open a Regular Saver Cash ISA. If you don’t have a National Insurance number then it may still be possible for you to open one. Call us on 0345 266 1231 for further details.

You can also open a Regular Saver Cash ISA on behalf of someone else, either under a Power of Attorney or as a Deputy for someone deemed incapable of making their own financial decisions.

Your right to cancel

You can cancel your Regular Saver Cash ISA without charge within the first 14 calendar days of account opening should you decide it’s not for you. The balance on your account, and any interest earned, will be repaid in full either to you, or to the previous ISA provider (if you transferred in an ISA balance). Any money deposited will not count towards your ISA annual allowance for the tax year. Should you close your Cash ISA using the Right to Cancel process, you can open a subsequent Cash ISA with us or another financial institution, up to your annual allowance for the tax year.

Minimum deposit and maximum balance

The minimum deposit for a Regular Saver Cash ISA is £25. You can make unlimited deposits each month as long as the minimum value is not less than £25 and the overall total does not exceed £250 a month. The maximum you can hold in a Regular Saver Cash ISA at maturity is £3,000. The maximum amount of new money you can subscribe to a Cash ISA per tax year is set by HMRC ISA Guidelines.

Interest earned on your Regular Saver Cash ISA

From the day we receive your initial deposit, your Regular Saver Cash ISA will earn interest daily, based on the balance at the end of each day and calculated as 1/365th of the annual rate.

Transfers from existing Cash ISAs usually take 15 business days. Your Ford Money Cash ISA will earn interest from the next business day (inclusive of the ISA transfer process) or from the date of receipt from your previous ISA provider, whichever is earlier.

Your interest is paid on the anniversary of your initial deposit and can be paid into:

  • the same Regular Saver Cash ISA where it’s earned 
  • any other Ford Money savings account you hold
  • your Nominated Account


Interest due dates

If you have selected for your interest to be paid to your Nominated Account and if the interest due date is a non-business day (Saturday, Sunday and Bank Holidays), we’ll send your interest payment via BACs on the next business day.

If the anniversary date falls on February 29th , we’ll pay your interest on February 28th , except in leap years when we will pay it on February 29th itself.

Transferring an ISA to Ford Money from another provider

'ISA Transfers In' for our Regular Saver Cash ISA can only be actioned subject to individual circumstances and cannot be fulfilled online. If you intend to make an 'ISA Transfer In' then please telephone us first to discuss your application.

Transferring your Ford Money Regular Saver Cash ISA to another provider

It’s possible to do this, but please remember that a term breakage charge will apply if you instruct us to carry out your request within the term. Check the product terms and Conditions for details. You’ll need to contact your new provider and instruct them to request a transfer from us.

When your Regular Saver Cash ISA matures

As your Regular Saver Cash ISA approaches maturity, we’ll send you an email around a month before it matures, and another 14 days before the end of the term. Each will explain that you need to log in to see the maturity options that are available to you. You’ll normally have the option to:

  • Withdraw your savings
  • Re-invest in a different Ford Money product
  • Create any combination of the above.


If you forget to select a maturity option

If we don’t hear from you at the end of your term, your balance will be moved automatically into a Flexible Cash ISA in the Issue that is on sale at that time. We’ll let you know about this, and you’ll have the 14 calendar day Right to Cancel, if you decide you wish to cancel the new account following the maturity date, if you decide it doesn’t meet your savings needs.

Account maturity and outstanding interest

Any outstanding interest can be credited to the account of your choosing. This could be either into your Nominated Account or another Ford Money account.

Interest paid to your Nominated Account will be sent to your account on the maturity date (or the next working day where maturity date is on a weekend or Bank Holiday). If your account matures over the weekend or on a Bank Holiday, and you're transferring some, or all, of your savings to your Nominated Account, you'll earn additional interest for these days. This will be included in the amount we transfer on the next working day.

Withdrawals from a Regular Saver Cash ISA before the term ends

The Regular Saver Cash ISA account is designed to be held for the entire term.

Account closure, transfers out and withdrawals are only allowed without charge within the first 14 calendar days of account opening.

After this 14 day cooling off period, a term breakage charge is applied for withdrawal or closure. If the account is closed you won’t be able to re-open it or subscribe to another Cash ISA with us (or any other financial institution) in the same tax year.

The term breakage charge is deducted from the amount we pay you and will be equivalent to 90 days’ gross interest on the amount you withdraw, at the interest rate your account is earning.

If you cash in all of your Regular Saver Cash ISA, you may get back less than you originally deposited.

There are three situations where we don’t apply a term breakage charge for cashing in early:

  • after a Regular Saver Cash ISA account holder dies
  • if we make any change to this agreement that is to your disadvantage
  • if HMRC does not consider the Regular Saver Cash ISA to be an ISA



Regular Saver Cash ISA explained

To help you get started with our Regular Saver Cash ISA, we’ve made a short how-to video.

Help Articles


Saving With Ford Money

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