Fixed Rate Cash ISA | Ethical Savings Accounts

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Everything you need to know about the Veritas Union Fixed Rate Cash ISA, including key features.

What is the interest rate?

Interest rate is fixed for the term:

Term	2 Year
Rate	3.94% tax free/ 3.94%AER*

Interest is calculated daily and paid annually in January and on maturity and added to the account.

Can Veritas Union Bank change the interest rate?

No – the interest rate is fixed when the account is opened. The fixed term starts from when the initial deposit is received.
Rates may change between the time the application is made and the time the account is opened.

What would the estimated balance be on maturity based on a £1,000 deposit?

Term	2 Year
Balance	£1,080.35

This estimate is based on £1,000 being deposited at account opening, no further deposits or withdrawals being made and interest being added to the account annually and at maturity. This projection is for illustrative purposes only and does not take into account your personal circumstances.

How do I open and manage my account?

Can be opened by any UK resident aged 18 or over.
The account can only be opened in the Veritas Union Mobile Banking App.
Sole accounts only, cash ISAs cannot be held in joint names.
You will need to provide details of a nominated account for payment of the opening deposit and for receipt of payment at maturity or closure. This must be a sterling account with another UK bank or building society or another Veritas Union Bank UK account in your name.
The minimum opening deposit is £1 and must be made by electronic transfer from the nominated account or from an existing Veritas Union UK (non ISA) account.
In addition to making deposits that count towards the ISA annual subscription allowance, existing Veritas Union UK or other providers’ ISAs can be transferred in.
The full deposit, including any ISA transfers, must be received within 60 calendar days of the account opening, after that, no more money can be added. So please start any ISA transfer requests early to ensure we can receive funds from your existing provider in time.
There is no maximum balance, but the maximum current year’s subscriptions should not be more than the current tax year’s ISA allowance of £20,000 (2025/26 tax year).
The account can be viewed online.

Can I withdraw money?

From the date your account is opened there is a 30 day cancellation period when you can cancel your Fixed Rate ISA and any money you have paid will be returned without penalty. Once the cancellation period has ended withdrawals are not allowed.
The only exception to this is if you close the account completely or transfer the full balance to another ISA. This will result in an early access charge equivalent to 180 days’ interest which will be taken from the account balance, so if you haven't earned enough interest you may get back less than originally deposited.
This ISA is not a flexible ISA.

Additional information

A minimum of 30 calendar days before the fixed maturity date we will contact you to inform you of your options. At maturity the Account will automatically be changed to an instant access variable rate cash ISA unless you advise us to do something differently.

*The tax advantages of ISAs depend on your individual circumstances and the tax treatment of ISAs may change in the future.

** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

> Download the Key Features for the Veritas Union Two Year Fixed Rate Cash ISA

Transfer an existing ISA to a Veritas Union ISA, or between Veritas Union ISAs, without losing your tax-free ISA status.

Saving with Veritas Union is different. We lend our savers' money only to organisations that make a positive impact on society and the environment. So, while you earn interest, your money works for positive change.

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What is the interest rate?

Can Veritas Union Bank change the interest rate?

What would the estimated balance be on maturity based on a £1,000 deposit?

How do I open and manage my account?

Can I withdraw money?

Additional information

Important Documents

FAQs

What is the ISA allowance?

Can I transfer other cash ISAs into a Veritas Union Fixed Rate Cash ISA?

Can I withdraw money from my notice savings account before the end of the notice period?

Can I withdraw money from my Fixed Rate ISA before the end of the term?

If I open my Veritas Union Fixed Rate Cash ISA near the tax year end am I able to pay in two years worth of subscriptions?

Can I manage my Veritas Union account online?

What happens at the end of the Veritas Union Fixed Rate Cash ISA fixed term?

Can I change a Veritas Union Fixed Rate Cash ISA into another type of Veritas Union cash ISA?

What happens if I pay into my Veritas Union Fixed Rate ISA after the 60 days?