90 Day Notice Cash ISA

Product Availability

Limited Issue

This product may be withdrawn without notice.

Amount of initial deposit

Minimum:

£1

A minimum of £1 must be kept in the account at all times. If you do not keep the minimum balance in the account, the account will be closed.

Maximum

£5,100 per tax year

Unless increased or decreased by the government.

Opening an account

Min. Age:
Joint option:
In Trust option:

16
No
No

Investors must be ordinarily resident in the UK for tax purposes. You may also be able to open a Cash ISA if you are a crown employee or are married to a crown employee serving overseas. Investments in a Cash ISA must remain in the beneficial ownership of the account holder, and must not be used as security for a loan.

Corporate Body:
Unincorporated Body:

No
No

An individual cannot open an account in trust for such organisations.

Additional deposits

Yes

You can make further deposits, up to the maximum balance in each tax year.

Withdrawals and closures

Notice:

90 days

Withdrawals and closures are permitted subject to 90 days’ notice or 90 days’ loss of interest on the amount withdrawn, to be deducted from the capital sum if necessary. Withdrawals are subject to signing a withdrawal slip. If making a withdrawal by post you must send us your passbook.

Max. cash withdrawal:

£250

On your instructions and within the time stipulated by you all or part of the investments held in your Cash ISA and proceeds arising from the investment shall be transferred or paid to you, subject to any reasonable business period, not exceeding 30 days. There is no charge for transfers, however, all transfers are subject to withdrawal conditions, as set out in the section ‘Withdrawals and Closures’.

Remember that annual subscription limits apply if withdrawals are made. For example, if you deposit £5,100 in your Cash ISA on 1 October and withdraw £2,000 on 1 November, you cannot make any further deposits to your Cash ISA in that tax year as you have already invested the maximum amount. However if you transfer all or part of your current years Cash ISA subscription to a Stocks and Shares ISA you may be able to reinvest to the Cash ISA subscription limit depending on the overall subscription limits.

Transfers of previous ISA subscriptions

Internal:

Yes

Transfers from other Dunfermline Accounts are accepted subject to the Terms and Conditions of the account to be transferred and on completion of the correct forms. If you transfer to this account from another Dunfermline Cash ISA, your first payment of interest will not be paid until 28 February 2010, if you choose annual interest. Interest is not paid at the date of transfer. Please contact your branch for further details.

External:

Yes

Transfers from other institutions are accepted subject to the completion of the correct forms. There is no maximum transfer amount, and transfers will not affect your current tax-year subscription limit. Please ask your branch for further details.

Interest

Type:

Paid:

Date of Payment:

Paid to Account:

Variable

Annually or Monthly

28 February or 15th each month

Yes – if paid annually

Interest is variable, is calculated on a daily basis and can be paid either annually or monthly. If interest is paid annually, it will be paid after close of business on 28 February each year, commencing 2010 and will be paid to this account. If you choose to have interest paid monthly, it will be paid after close of business on the 15th of each month commencing the month after the account is opened (please note that interest is sent to your account the first working day after the 15th and may not be received in your account for 2-3 days). It must be paid to another Dunfermline Building Society account (but not Dunfermline Direct accounts) or to a bank.

Tax

None

Interest is tax-free***

On the death of the account holder this account will cease to be a qualifying Cash ISA and will be subject to tax in the usual way. The favourable tax position for Cash ISAs depends on Government tax treatment and may not
be maintained.