Fixed Rate Cash ISA

It is a fixed rate as shown in the table below:

Interest is calculated daily and credited monthly, quarterly, annually, or at maturity of the deposit depending on your selection. This selection cannot be amended once the selection is confirmed.

You can choose to have your interest paid monthly (for 2, 3, 4 and 5 year terms), quarterly (for 3, 4 and 5 year terms), annually (for 2, 3, 4 and 5 year terms), or on maturity of the deposit (for all terms).

Interest will be paid out to the nominated account stated at the time of account opening. This account must be in your name. Interest is not added to your principal amount unless you have selected interest payment at maturity.

Please note that UBL UK does not compound interest. Please refer to the Interest Rate Sheet for the Gross Rates on different interest payment options.

No, this account has a fixed rate of interest. This means that the rate will not change during the duration of the term.

Below is an example of what the future balance might be after interest has been paid.

Assumptions taken for the above calculations:

• Calculations based on a minimum deposit of £2,000
• No change in the amount (no deposits, no withdrawals)
• No change to the interest rate during the fixed term
• Interest payment on maturity assumed

These projections are provided for illustrative purposes only and do not take into account individual circumstances.

You must;

• Be aged 18 or over and resident in the UK for tax purposes.
• Only open this account in your sole name.
• Hold a valid National Insurance Number.
• The minimum balance is £2,000.
• ISAs have an annual limit for the Tax Year 2024/2025 of £20,000. for new money, and you cannot pay more than this limit into any combination of permitted ISAs within the same Tax Year.
• You can also transfer your existing ISA to us.

Funding your account

• When you open your account through internet or mobile banking, a 'Funding account' will be opened. You may then send an electronic transfer to this Funding account and once the committed amount has been deposited, your Fixed Rate Cash ISA will commence.
• If you apply by post, you may send a cheque with your application in order to fund the account. Please ensure that the cheque is payable to you, and is from an account which you own and operate.
• If you apply in branch or by post and you wish to wait for your account to be opened before you fund it - you will receive a welcome letter with your account details. The fastest way to fund your account is using internet or mobile banking, and you can register using your account details and the answers to your security questions either on mobile (search 'UBL UK Mobile Banking') or at digitalbanking.ubluk.com.
• You may send us a cheque but this may take longer to arrive in your account, send it to FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ, or make an Electronic Transfer to:
  • Sort Code 60-93-68
  • Account number 81009001
  • With your Account number (from your Welcome Letter) as the reference.

NB: You will have 10 calendar days to fund your account, deposits after this period will be subject to the prevailing advertised Interest Rate.

What is a Funding account?

A Funding account is a non-interest bearing transit account that we use to help you set up your Fixed Rate Cash ISA. You should only transfer up to the committed amount into the Funding account. Any additional funds will remain in the Funding account, but you will not be able to move them through internet or mobile banking and will need to contact us by phone. If you make multiple deposits to fund your account, we will transfer the funds from the funding account into your Fixed Rate Cash ISA once you have reached the minimum funding amount of £2,000.

Managing your Account

• Online or Mobile Banking: If you applied via post or branch, once opened, you may register for New Internet Banking at digitalbanking.ubluk.com, or download our new Mobile App by searching for 'UBL UK Mobile Banking' in your app store. If you register on internet or mobile banking, this access will already be available to you.
• Branch: Visit London branch Monday to Friday between 9:30am and 4pm
• Post: By sending instructions to: FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ (all written instructions must be countersigned and dated by all named Account holders) - instructions can take longer to be executed if they arrive by post

• Telephone: You can contact our Customer Services Team Monday to Friday from 9:15am to 5:15pm for support

Our internet and mobile banking service enables you to view your balances, statements, provide instructions through secure messaging and manage your finances.

Early withdrawal in full (and no partial withdrawal) is allowed before the full term expires. However, there will be an early withdrawal charge for withdrawing the deposit before the end of the term of the deposit.

Early withdrawal charges are as follows:

The Early Withdrawal Charge will be deducted from interest that has accrued on your Account. If interest has already been paid out to your nominated account, then the Early Withdrawal Charge will be deducted from your deposit with us.

The total of the interest paid and deposit you receive back from us will be no less than your deposit at the Fixed Rate Cash ISA start date.

• This account can only be held in a sole name.
• Transfer-ins and Transfer-outs are allowed.
• There is a 14 day cooling off period for all Fixed Rate Cash ISAs. If you decide to cancel within 14 days of funding the Account, UBL UK will not deduct Early Withdrawal Charges, but you will not be entitled to interest payments for the number of days the deposit has been held with UBL UK. If you cancel within the 14 day cooling off period, you will not lose your Cash ISA subscription allowance for the tax year and you may open a Cash ISA with any other ISA Manager.
• Gross rate means that UBL UK will not deduct tax from the interest we pay on money in your Account. It is your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC) or other tax jurisdiction.
• AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time. UBL UK does not compound interest.