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| The information contained in this table summarises key product features and does not replace any terms and conditions. |
Summary Box
Key Product Information for our Egg Cash ISA 2 |
| Account name | Egg Cash ISA 2 | | Interest rates (AERs) | 2.50% gross pa/AER (variable). | | Tax status | Tax free. | | Conditions for bonus payment | N/A |
| Withdrawal arrangements | No notice period or penalties for withdrawals. | | Access | Online. |
The maximum subscription for a cash ISA is £3,600 per tax year. You can only have one cash ISA in each tax year.
The tax efficient status of ISAs may change. The value of the tax treatment described will depend on individual circumstances.
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Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. In other words, the figure you see is the rate that will be used to work out the interest you’ll be paid before income tax is taken off.
Tax free is the contractual rate of interest payable where interest is exempt from income tax. In other words, you won’t have to pay income tax on any interest you’re paid from this product.
AER means the Annual Equivalent Rate and is a notional rate which illustrates the contractual interest rate as if paid and compounded on an annual basis.
As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
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