Easy Access Help to Buy: ISA Issue 2

2.00% Gross Annual Interest
1.98% Gross Monthly Interest
2.00% AER*
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Open an account

Apply online and open an Easy Access Help to Buy: ISA with Aldermore. It’s easy convenient and secure. Open an account, complete identity checks and move your money in minutes.

Easy Access Help to Buy: ISA Summary Box

Account name

Easy Access Help to Buy: ISA Issue 2

What is the interest rate?

Gross Annual Interest Gross Monthly Interest AER*
2.00% 1.98% 2.00%

Interest is calculated daily, and paid monthly or annually.
You can choose to have your interest paid to your Help to Buy: ISA, another Aldermore Easy Access or Notice Account or your nominated UK bank or building society account. Interest added to your Help to Buy: ISA will form part of your closing balance, on which the Government bonus will be calculated.

Can Aldermore change the interest rate?

Yes, the interest rate is variable. We can increase or decrease the rate for any of the reasons set out in our Personal Savings Terms and Conditions.

What would the estimated balance be after 12 months based on an example deposit amount?

Deposits in First 12 Months Balance After 12 Months Interest Earned
£3,400 £3,446.34 £46.34

This is only an example and does not take into account your individual circumstances. This example assumes that the maximum initial deposit of £1,200 is added to this account at the start of the first month, the maximum monthly deposit of £200 is added at the start of each month thereafter, that no withdrawals are made and that interest earned is paid to this account annually.

How do I open and manage my account?

- To open an account you need to be aged 18 years or over, resident in the UK and only liable to pay tax in the UK and are not, and never have been, a Residential Property Owner

- You can open a Help to Buy: ISA up until 30 November 2019 and contribute to your Help to Buy: ISA until 30 November 2029. Your bonus must be claimed by 1 December 2030 at the latest

- This account can be held in one name only

- You can open and manage your account online. We will accept instructions in relation to the account through our Internet Banking Service

- The minimum deposit required to open this account is £1

- In the month in which we receive your opening deposit, a maximum deposit of £1,200 applies. For each calendar month thereafter, a maximum deposit of £200 applies

- Transfers in from Cash ISAs and Stocks and Shares ISAs are subject to the maximum deposits shown above. You can only hold one Help to Buy: ISA and any existing account must be transferred in full

Can I withdraw money?

- Yes, you can make unlimited withdrawals. Your money can be returned to your nominated account, transferred to any other Personal Savings accounts you hold with us that allow deposits or transferred to another ISA provider

- You can use your funds as you choose, including towards the deposit for your first home. However the bonus you receive when you complete on the purchase of your property will be based on the balance of your account at closure. You will not be able to claim a bonus on any previously withdrawn funds

- ISA flexibility doesn’t apply to the Help to Buy: ISA. Any amount withdrawn from a Help to Buy: ISA can then only be repaid by you in accordance with the maximum monthly limit of £200

Additional information

- Interest is paid gross without the deduction of income tax and doesn’t count towards your Personal Savings Allowance

 - If you change your mind within 14 days of opening your account we will cancel your account without penalty or notice

- There are specific eligibility criteria and rules for the Help to Buy: ISA scheme. These are available at www.helptobuy.gov.uk/isa

  *AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year

What you need to open an account

If you would like more information, or if you wish to open an account under power of attorney, please contact us before you open your new account.

Our accounts are open to a wide range of people for a wide range of needs, just so long as you:

  • have a UK bank or building society account, on which you’re named as an account holder. This is your nominated account and you’ll need the sort code and account number to hand when you open your new account with us. You can only transfer money into your Aldermore account from this account, or by transfer from another ISA provider
  • are aged at least 18
  • are resident in the UK and only liable to pay tax in the UK
  • are not, and never have been, a Residential Property Owner
  • have read the specific eligibility criteria and scheme rules at www.helptobuy.gov.uk/isas

ISA Transfers

When you open your account, you’ll be asked at the start of the application if an existing ISA is to be transferred. If it is, towards the end of the application you’ll be asked to provide the details of the ISA to be transferred. Where your existing provider subscribes to the electronic Cash ISA transfer platform, your request will be submitted electronically. If your existing provider doesn’t subscribe to the electronic platform, you’ll need to print and send us a completed ISA transfer form, which is provided to you at the end of your application.

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

The rates we have previously paid on our Easy Access Help to Buy:ISA are shown on our Historic Rates Page.

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