Super Direct ISA (Issue 4)

Supercharge your savings with a 5.50% AER tax free (variable) Super Direct ISA

Get a 5.50% AER tax free (variable) Super Direct ISA when you put the same amount or more into a separate qualifying investment product from Abbey.

• Why choose the Abbey Super Direct ISA?
• Apply Now
• Further information

Why choose the Abbey Super Direct ISA?

• Rate - boost your tax-free savings with a fantastic rate of 5.50% AER tax free (variable) on your cash ISA when you take out a qualifying investment. To receive the Super Direct ISA rate of 5.50% AER tax free (variable) for the first 12 months you must ensure you continue to hold your qualifying investment.
• Save - any amount from £1 up to a maximum of the annual Cash ISA limit* in the Super Direct ISA per tax year and transfer in other cash ISAs. All payments you make into your ISA count towards your tax free allowance. This means if you use up your allowance then take money out of your ISA, you cannot pay that money back in until the start of a new tax year. Remember you must pay the same amount or more into a separate qualifying investment product from Abbey.

Interest paid – Interest is calculated daily and paid each year after close of business on 1st March. You can choose to have interest paid into your Super Direct ISA, or into a different Abbey account. We’ll send you a statement at least once a year, so you’ll always know exactly how your tax free savings are doing. Your Super Direct ISA will revert to Direct ISA (Issue 3) without bonus interest rate after 12 months or if you close your qualifying investment early.  If you do close your investment plan early you may get back less than you paid in.

• Manage your money – you can manage the money in your cash ISA any time by phone, cash machine or online. Transfer in any existing cash ISAs that you hold free of charge
• Qualifying investments - all investments and pensions excluding Child Trust Fund and Guaranteed Income Bond.
  
  If you close your investment plan early you may get back less than you paid in. More Information 
  
  
• The Super Direct ISA will revert to a variable rate Direct ISA (Issue 3) excluding bonus after 12 months.

Rates may vary and are effective from 23 February 2009.

Apply Now

You can apply for the Super Direct ISA by visiting an Abbey branch. You can find your nearest branch using our branch finder . Remember, you'll need to bring some proof of your name and address. See a list of acceptable ID.

Further information

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added to your account each year. The tax free rate is the rate of interest payable where interest is exempt from income tax. The favourable tax treatment of ISAs may change in the future.

For more information, see the ISA and Super Direct ISA specific terms & conditions;
 

If you want to transfer in other cash ISAs you can do this at the branch when you open the product. If you want to transfer in after you have opened your ISA you can do this by completing the ISA Transfer Form.

If you would like to pay in or take money out of your ISA by post please use the ISA transaction form.

*If you are aged 50 or over by the 5th April 2010, you can invest up to £10,200 tax efficiently. Up to £5,100 of this can be saved in a cash ISA, with the remaining balance in a stocks and shares ISA, or the whole £10,200 can be saved in a stocks and shares ISA.

If you are not aged 50 or over by the 5th April 2010, you can invest up to £7,200 this tax year. Up to £3,600 of this can be saved in a cash ISA. 

From the 6th April 2010, the increased allowance will apply to all customers.

All our ISAs are provided by Abbey National PEP & ISA Managers Ltd