Wrap up your tax free savings

Interest is calculated daily and may be visible on your account from the 24th of the month. This won’t be available to you until the due date of the last working day of the applicable month.

If the balance on the account falls below the minimum of £5,000, no interest will be earned until the minimum balance is reached again.

*Interest is paid free from UK tax.

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

This account has a fixed rate of interest from the date the account is funded until the maturity date.

£5,325.12

This projection is for illustrative purposes only.

If £5,000 was deposited, the account balance would be £5,325.12 after  24 months.

This assumes no further deposits or withdrawals are made, no changes are made to the current interest rate and interest earned is added to the account.

This account is available to open online and in branch for new and existing members. The account can be managed via online or in branch.

You must fund the account to the minimum balance within ten days of opening. You can fund the account multiple times during this period.

The minimum balance is £5,000, the maximum subscription for the tax year is £20,000 and the maximum holding with the Society is £500,000.

We reserve the right to refuse additional years subscriptions.

Access to funds are permitted by closing the account and paying a penalty of 180 days’ loss of interest. This may mean you get back less than you deposited.

ISAs cannot be transferred from one saver to another except upon the death of the account holder, please ask us for further information.

Any money you move to an account that isn’t an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in the future.

You can transfer to another provider at any point. We will forward the funds to the new ISA provider within 5 business days of receiving your instruction from them. The other ISA Manager must be willing to accept the transfer.

ISAs can only be held in the name of one individual.

You will be, and must remain in, beneficial ownership of the investment and it must not be used as security for a loan.

The Society will notify you, if by reason of any failure to satisfy the provision of the ISA regulations, your ISA has, or will, become void. We will make sure that any person to whom we delegate any of our functions or responsibilities under the terms agreed with you, is competent to carry out those functions and responsibilities.

You must be a permanent UK mainland resident aged 18 or over.

In the event of any apparent conflict between the conditions in this leaflet and the full terms and conditions, this leaflet takes precedence. This product may be withdrawn at any time and without notice.

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay

MHBS is an authorised ISA Manager under the ISA Regulations 1998 (as amended). ISAs are offered by the Society in accordance with and subject to the ISA Regulations and any subsequent legislation.

You will be, and must remain in, beneficial ownership of the investment and it must not be used as security for a loan.

You must be a permanent UK mainland resident aged 18 or over.

Any transfer will be subject to the current ISA Regulations. We will comply with your request to transfer within 15 working days, by transferring your ISA balance (or part thereof) directly to the new ISA Manager.

We accept full or partial Transfers In for previous years subscriptions. Any contribution for the current tax year must be transferred in full.

We accept Transfers In from multiple Cash ISAs. you can however, only hold one Cash ISA with the Society for the current tax year.

We do not out source any of our ISA Manager duties, however if we were to delegate our duties to a different ISA Manager, we’ll make sure that any person to whom we delegate our functions or
responsibilities is competent to carry them out.

On maturity the account will transfer to our Easy Access Cash ISA. We will write to you 14 days’ before the maturity with your options.

Summary of Changes to General Savings Terms and Conditions (effective 4 April 2026). Two clauses are being updated:

Clause 11.3.3(b)(ii) The period to close or withdraw from your account without giving notice will reduce from 60 days to 30 days.

Clause 12.4(b)(i)(b) The same change applies here: the notice-free withdrawal/closure period will reduce from 60 days to 30 days.

All other wording in the affected clauses remains unchanged.

In the event of any apparent conflict between these Terms and Conditions  and the General Savings Account Terms and Conditions, these Terms and Conditions take precedence.