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1 Year Fixed Rate ISA (31.12.2025)

Summary Box	The summary box contains the specific terms and conditions for this account and should be read in conjunction with our ISA Key Facts. Where applicable, this supersedes our General Investment Terms and Conditions.
Account name	1 Year Fixed Rate ISA (31.12.2025)
What is the interest rate?	4.20% Tax-Free*/AER Interest is added to the account annually on 31 December or can be paid into another Suffolk Building Society account or direct to your bank account on an annual or monthly basis. Interest paid monthly cannot be added to the account.
Can the Society change the interest rate?	The interest rate is fixed until the maturity date on 31 December 2025.
What would the estimated balance be after 12 months based on a £1,000 deposit?	If you were to open this account with £1,000 and no further deposits or withdrawals were made, after 12 months you would earn £42 in interest. If you chose to have interest added, this would result in a total balance of £1,042. Please note this is an illustration only and does not reflect your specific circumstances.
How do I open and manage my account?	To be eligible for this account, you need to: • Be a permanent UK resident, aged 18 or over. If you were aged 16 or 17 as of 5 April 2024, you can open and subscribe to one single adult cash ISA until you are 18. • Have a National Insurance Number. • Deposit a minimum of £100 up to the maximum annual HM Revenue & Customs (HMRC) ISA limit. • Be an existing member or a new member resident in postcode areas AL, CB, CM, CO, IP, LU, MK, NR, PE or SG. You can open an account: • By completing the appropriate application form. • 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. • Provide proof of identity. Acceptable forms of identification are detailed in our ‘Verifying your identity’ leaflet. Alternatively, our staff will give you full details. If you change your mind: If you are not happy with your chosen account within 14 days of opening it, we will help you switch accounts or return your savings with interest. How to manage your account: • You can save up to the maximum annual ISA allowance until 5 April 2025. • You may deposit up to the maximum annual ISA limit set by HMRC by cash, cheque or bank transfer. • Our ISA Key Facts gives you important information about managing your ISA and should be read in conjunction with these terms and conditions. Can I transfer my ISA from another ISA Manager? Yes. You can transfer in an ISA from another ISA Manager, whilst this ISA remains available to open. We cannot accept partial transfers of current years’ subscriptions or flexible ISAs, where you have used your flexible options.
Can I withdraw money?	You cannot make partial withdrawals. • However, your account can be closed before the maturity date 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, your savings will lose their tax-free benefit unless you are transferring your funds to another ISA provider.
What happens at the end of the fixed rate term?	We will contact you 14 days before maturity. We will: • Provide information on how you can access your funds, close your account, or continue to save with us. • Give you a time frame in which to decide. • Transfer your savings to another fixed term savings product with the closest access terms and duration if we don’t hear from you.
Additional Information	Tax-Free Interest is free of Personal UK Income Tax, your Personal Savings Allowance and Capital Gains Tax. AER (Annual Equivalent Rate) A rate which illustrates what the gross rate would be if the interest was paid and added once each year. Changes to these terms* Are detailed in Section 19 of our General Investment terms and Conditions. Customer complaints Although we do all we can to provide a first-class customer service, sadly sometimes things do go wrong. Your concerns are important to us to improve the quality of service and identify possible training needs. We are committed to ensuring all complaints are fully and fairly addressed. If you have a complaint, please let us know and we will do our very best to resolve the problem. A leaflet is available detailing our complaint procedure, which you can request at any time. Financial Services Compensation Scheme Suffolk Building Society participates in the Financial Services Compensation Scheme. For full details please ask our staff.

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Our savings accounts are currently available to open in branch or by post. If you’re looking for more information on how to open your account we’ve put together a helpful guide.

To open a new account, you must be an existing member, or a new applicant living in our local postcode areas AL, CB, CM, CO, IP, LU, MK, NR, PE or SG. Online accounts are available to those living anywhere in the United Kingdom.

If you’re ready to open your savings account by post you’ll need to do the following:

Download, read and accept the terms and conditions
Read and retain the Financial Services Compensation Scheme (FSCS) information sheet
Read and retain the Privacy Notice
Download the application form by clicking this link. Complete it by typing into the boxes, then print and sign it (handwritten forms are also accepted). You can then email it to us or pop into branch.

We will require proof of your identity to open a new account if you are a new customer. For existing members we may request identification, for example if your records with us are incomplete.

You can either open your account:

In your local branch – please get in touch before you plan to visit us, so we can make sure we allow enough time to open your account and run through the items we will need you to bring.

By post – Completed application forms, along with copies of your identification, should be posted to: Suffolk Building Society, Freehold House, 6-8 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.