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 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.
Interest can be paid annually or monthly on the anniversary date of your initial deposit.
If your Fixed Saver term is equal to a whole year (for example 1-year or 2-year) your interest can be paid into:
- the same Fixed Cash ISA where it’s earned,
- any other Ford Money savings account you hold (subject to its Terms and Conditions),
- your Nominated Account.
For terms that aren’t equal to a whole year (say 6 or 18-month terms), we’ll pay interest into the same Fixed Saver where it’s earned.
Having interest paid into an account other than the Fixed Cash ISA will count as a withdrawal which can be replaced without counting towards your annual subscription limit.
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.