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ISAs (tax free savings)

Make the most of your ISA allowance

When it comes to tax free savings, ISAs are hard to beat. You can save up to £5,100 each year in a BM Savings Cash ISA.

Variable rate Cash ISAs

All the benefits of an easy access account and tax free savings as well.

Refer to this key to help you understand the key features of these accounts.

  • Single account holder only
  • Joint account holders available
  • Apply online
  • Apply by telephone
  • Monthly interest
  • Annual interest
  • ISA transfers allowed
  • Interest on maturity

Account and apply

Rates

Save from

Access

Features

Balance after 12 months (£1k savings)

ISA extra (annual interest)ISA extra (annual interest)

2.70

2.70%
Tax free/ AER*

£500
  • Unlimited
  • Manage by post

Single account holder only
Apply online
Apply by telephone
Annual interest
ISA transfers allowed

£1027.00

ISA extra (monthly interest)ISA extra (monthly interest)

2.67

2.67%
Tax free
2.70% AER*

£500
  • Unlimited
  • Manage by post

Single account holder only
Apply online
Apply by telephone
Monthly interest
ISA transfers allowed

£1026.70

The estimated balance is for illustrative purposes only. It is based on the tax free rates shown and assumes that the interest rate and rates of tax remain constant.

  • Single account holder only
  • Joint account holders available
  • Apply online
  • Apply by telephone
  • Monthly interest
  • Annual interest
  • ISA transfers allowed
  • Interest on maturity

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Fixed rate Cash ISAs

If you prefer guaranteed rates of interest try our fixed rate tax free savings accounts.

Refer to this key to help you understand the key features of these accounts.

  • Single account holder only
  • Joint account holders available
  • Apply online
  • Apply by telephone
  • Monthly interest
  • Annual interest
  • ISA transfers allowed
  • Interest on maturity

Account and apply

Rates

Term

Save from

Access

Features

Balance after 12 months (£1k savings)

5 year fixed rate ISA (annual interest)5 year fixed rate ISA (annual interest)

4.25

4.25%
Tax free/ AER*

5 year

£500
  • Permitted subject to a loss of interest charge
  • Manage by post

Single account holder only
Apply online
Apply by telephone
Annual interest
ISA transfers allowed

£1042.50

5 year fixed rate ISA (monthly interest)5 year fixed rate ISA (monthly interest)

4.17

4.17%
Tax free
4.25% AER*

5 year

£500
  • Permitted subject to a loss of interest charge
  • Manage by post

Single account holder only
Apply online
Apply by telephone
Monthly interest
ISA transfers allowed

£1041.70

The estimated balance is for illustrative purposes only. It is based on the tax free rates shown and assumes that the interest rate and rates of tax remain constant.

  • Single account holder only
  • Joint account holders available
  • Apply online
  • Apply by telephone
  • Monthly interest
  • Annual interest
  • ISA transfers allowed
  • Interest on maturity

^ Back to top

Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

*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 contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

NET rates are illustrative only, allowing for the deduction of income tax at 20%. If you are a higher rate tax payer, you may have a further amount to pay. If we deduct more tax than you have to pay this can be reclaimed from HMRC.

Tax Free means free from personal liability to Income Tax.

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© Birmingham Midshires
This site is intended for UK residents unless otherwise stated.
Birmingham Midshires is a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority. It is entered in the FSA's Register and its Register Number is 169628. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh, EH1 1YZ.
To contact the FSA Consumer helpline, please ring 0300 500 5000 or visit www.moneymadeclear.org.uk/.