Monthly Saver Isa (Issue 3)

MONTHLY SAVER ISA (ISSUE 3)

Summary Box

Account name Monthly Saver ISA (Issue 3)

What is the interest rate? 2.00% Tax-Free*/AER** Interest is added to the account annually on 5 April.

Can Ipswich Building Society The interest rate is fixed until the maturity date on 5 April 2021. change the interest rate?

What would the estimated Based on the fixed rate of interest, if you deposited £1,200 into this account, after 12 months balance be after 12 months you would have £1,221.19. based on a £1200 deposit? (This figure is only an estimate, based on £100 per month being deposited on the 1st of each month for 12 months. This figure is for illustrative purposes only, and does not take into account your individual circumstances.)

How do I open and manage my To open this account: account? • You need to be aged 16 or over. • Provide an opening investment of £10 up to £1,666.66. Transfers from other Ipswich Building Society accounts are not allowed. • Be an existing member or a new member resident in postcode areas IP, NR, CO, CM, CB or PE. • Be a permanent UK resident. • Have a National Insurance number.

To open an account you must complete the appropriate application form. You can visit any of our branches with your opening investment of cash or cheque or apply by post by sending the application form with an opening cheque. You will be asked to provide proof of identity. This is to reduce the risk of fraud and is in line with anti-money laundering legislation. Acceptable forms of identification are detailed in our ‘Proving your name and address’ leaflet. Alternatively our staff will give you full details.

If you change your mind: If you are not happy with your chosen ISA within 14 days of opening it, we will help you switch accounts or return your savings with interest.

How do I manage my account: • You must make at least one payment per calendar month until maturity by cash, cheque or standing order, which you can vary between £10 and £1,666.66. • Transfers from other ISA accounts or Ipswich Building Society accounts are not allowed. • This amount can increase if the annual ISA limit set by HM Revenue & Customs (HMRC) increases. Please speak to a member of staff or refer to our website for the current ISA subscription limits. • From 1 March to 5 April each year, you can deposit up to your remaining annual ISA allowance, if you have any remaining. • Remember that you can only subscribe to one cash ISA with one provider in any tax year, however you can invest up to the maximum annual ISA limit across other types of ISAs.

What happens if I miss making a monthly subscription? We will transfer your account into our instant access Everyday ISA. The terms and conditions and interest rate applicable to that new account at that time will apply.

HEAD OFFICE: PO Box 547 Ipswich IP3 9WZ )

Telephone: 0330 123 0723 Fax: 01473 278600 Email: [email protected] Website: www.ibs.co.uk 1456

(

Established 1849. Member of The Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the 19 19 Financial Conduct Authority and the Prudential Regulation Authority. Registered on the Financial Services Register, Firm Registration Number (FRN) 104875. 04/

Can I withdraw money? • You cannot make partial withdrawals. • However your account can be closed at any time subject to a penalty equivalent to 120 days’ interest. This means that you can access your funds instantly where you accept the penalty. • The penalty will first be deducted from accrued interest. If there is insufficient accrued interest the penalty will be deducted from the balance in your account. • If you close your account, you cannot open another cash ISA in the same tax year in which you have subscribed to this ISA.

Can I transfer out my ISA to another ISA Manager? If you want to transfer out to a new ISA Manager before 5 April 2021, then the withdrawal conditions above will apply to the transfer.

What happens at the end of the fixed rate period? The final interest will be added to your account on 5 April 2021. The Society will write to you to confirm that the account has been transferred into an instant access ISA available at that time. The terms and conditions and interest rate applicable to that new account at that time will apply.

Additional Information This represents the Terms and Conditions for Monthly Saver ISA (Issue 3) and should be read in conjunction with the Cash ISA Key Features Document, General Investment Terms & Conditions and our Customer Information booklet.

We suggest ensuring that standing order payments leave your bank no later than the 25th of each month to be received by the end of the calendar month.

Tax-Free* Interest is free of Personal UK Income Tax, your Personal Savings Allowance and Capital Gains Tax.

AER (Annual Equivalent Rate)** A notional rate which illustrates what the gross rate would be if the interest was paid and compounded once each year.

Customer complaints Although we do all we can at Ipswich Building Society to provide a first class customer service, sadly from time to time things do go wrong. We are keen to be aware of your concerns as they help us to identify ways in which we can improve the quality of service and possible training needs.

We are committed to ensuring all complaints are fully and fairly addressed. If you have a complaint please let us know by visiting any branch or agency, or call 0330 123 0723 and we will do our very best to resolve the problem. A leaflet is available detailing our complaint procedure. You can request a copy of this at any time.

Changes to these terms Any changes in terms will be displayed in our branch offices. At least thirty days’ notice will be given of any changes to your disadvantage.

Financial Services Compensation Scheme Ipswich Building Society participates in the Financial Services Compensation Scheme. For full details please ask our staff.

Retail Banking Conduct of Business Ipswich Building Society complies with the Retail Banking Conduct of Business which set standards of good practice for building societies and banks.

HEAD OFFICE: PO Box 547 Ipswich IP3 9WZ )

Telephone: 0330 123 0723 Fax: 01473 278600 Email: [email protected] Website: www.ibs.co.uk 1456

(