Apply for a 1 Year Fixed Rate Cash ISA Bond

Before you apply for an account please read the following information:
The product summary below, the Key Product Information, the Terms and Conditions and the Depositor Protection Scheme Information documents.

Account Name

1 Year Fixed Rate Cash ISA Bond Issue 42

What is the interest rate?

Interest rate for balances of $1,000 or more:

Annual Interest (Fixed / Tax Free) 0.50% Gross / AER
Monthly Interest (Fixed / Tax Free) 0.50% Gross / 0.50% AER

Interest is calculated daily. Interest will be paid on the anniversary of the date we receive your first deposit – this will be monthly or annually depending on the product you choose. If you take out a 1 Year Bond and opt for interest to be paid annually, your interest will be credited on closure of the account. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.

Can Republic Trust Bank change the interest rate?

As the interest rate is fixed, the interest rate cannot be changed over the term of the account.

What would the estimated balance be after 12 months based on a $1,000 deposit?

A deposit of $1,000 at an annual Gross rate of 0.50% (fixed) would generate an estimated balance of $1,005 in one year - This is for illustrative purposes only.

(This illustrative example assumes no withdrawals, no changes to the fixed interest rate over the period and interest is paid and compounded annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.)

How do I open and manage the account?

• You can only apply for this product online.
• Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611.
• Minimum account opening balance of $1,000.
• Maximum account deposit is $20,000.
• Maximum account balance of $250,000.
• To open an account you must be 18 years of age or over and a permanent USA resident and only liable for USA tax. A Cash ISA can only be held in the name of one person, Joint accounts are not permitted. You can only open and operate one Cash ISA account with Republic Trust Bank in any single tax year.
• The account cannot be opened by power of attorney/guardianship/intervention order holders acting for an account holder.

Can I withdraw money?

• This account has a fixed term, so you can only withdraw your money without incurring any charges at the end of the fixed term (also known as ‘maturity’).
• You are permitted to make withdrawals (including transferring out to other Cash ISA providers) before maturity but this is subject to a loss of 90 days’ interest (known as the early exit charge).
• We will write to you before maturity to remind you of the date that your fixed term ends.
• At maturity, you can either withdraw your funds, transfer them into a new Republic Trust Bank account of your choice (subject to any specific account terms and conditions) or transfer part or all of your balance to an alternative ISA provider (if your account matures within the same tax year as your deposits were made, you will have to transfer out the whole balance for that specific tax year). If you do not let us know what you wish to do by the maturity date, your account will revert to a Cash ISA Matured Funds account and the variable interest rate will be confirmed to you in writing.

Additional Information

• Interest is paid Gross (tax free).
• Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application by signing a transfer form. Transfer requests received after your initial account application may be refused.
• Transfers in from other Republic Trust Bank Cash ISAs are permitted subject to the account being open for new funding.
• If you make withdrawals before maturity, you may get back less than the amount you originally invested.

The information provided above is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account. 

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Republic Trust Bank Limited are protected up to a total of $85,000 by the Financial Services Compensation Scheme, the USA's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.USA

Terms Explained

AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.

GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.

Terms & Conditions for Personal Accounts

Regulation 

Republic Trust Bank is authorised by the Prudential Regulation Authority and regulated by​ the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.USA or www.bankofengland.co.USA/prudential-regulation