Demo rate card4.30% AER / tax-free (fixed)
The pound values and percentages on this page are invented AcornBank product terms, chosen for a realistic bank-style example. They are not current market offers, an invitation to deposit or invest money or a forecast of what a real bank will pay.
| Product detail | Demo terms |
|---|---|
| Account type | 1-year fixed-rate cash ISA |
| Rate, reward or charge | 4.30% AER / tax-free (fixed) |
| Minimum / demo annual allowance | £500.00 to £20,000.00 per demo tax year |
| Access | No withdrawals during the 12-month term in the model; closing or transferring early costs a 90-day interest deduction |
| Eligibility in the scenario | One adult story customer with unused demo ISA allowance this tax year |
| Fees | No model account fee |
| Currency | GBP (£), used solely for fictional calculations |
What could your balance look like after 12 months?
| Opening deposit | Demo AER | Interest earned | Closing balance |
|---|---|---|---|
| £1,000.00 | 4.30% | £43.00 | £1,043.00 |
| £5,000.00 | 4.30% | £215.00 | £5,215.00 |
| £10,000.00 | 4.30% | £430.00 | £10,430.00 |
Assumptions: one opening deposit, no additions or withdrawals, no fees or tax, and the stated rate for the whole period. Interest is credited once at each anniversary and rounded to the nearest penny, with half-pennies rounded up. AER and gross p.a. match in this annual-credit model. The ISA wrapper means the model deducts no tax from the interest.
The projection stops at 12-month maturity. No rate is promised beyond that date. Reinvestment would require a new fictional product and new terms.
Closing a £10,000.00 deposit early
| Closed after | Interest accrued | 90-day deduction | Interest paid | Amount returned |
|---|---|---|---|---|
| 3 months | £107.21 | £106.03 | £1.18 | £10,001.18 |
| 6 months | £215.59 | £106.03 | £109.56 | £10,109.56 |
| 9 months | £322.79 | £106.03 | £216.76 | £10,216.76 |
Early closure costs 90 days’ interest in the model, calculated on the deposit at the fixed rate using simple daily accrual. The deduction never exceeds the interest earned, so closing very early returns the deposit with no interest rather than less than the deposit.
Using the demo ISA allowance
| New money in the demo tax year | Allowance used | Allowance remaining |
|---|---|---|
| £10,000.00 lump sum | £10,000.00 | £10,000.00 |
| £200.00 a month for 12 months | £2,400.00 | £17,600.00 |
| £10,000.00 lump sum plus £200.00 a month | £12,400.00 | £7,600.00 |
The demo allowance resets each fictional tax year and is shared across every ISA a story customer holds. Money cannot be withdrawn during the fixed term; a transfer out is treated as early closure.
Hazelnut Fixed Cash ISA is 1-year fixed-rate cash isa in the Savings range, used for a year of tax-free interest at a fixed rate. Its live rate card, summary and worked tables sit above this text and update whenever the product record changes.
Features with a purpose
The key feature is the match between 1-year fixed-rate cash isa and a year of tax-free interest at a fixed rate. The example keeps a separate opening balance, records contributions or borrowing, and shows costs independently from rewards. This makes it possible to see where the closing number actually comes from, even if Pip has chewed the corner of the statement.
See the whole Savings range or compare every product on the rates page.
What the example does not promise
All figures are invented and shown to make the demo useful to read and crawl. No money is held, no application is available, and no deposit-protection, regulatory or tax-wrapper status is claimed. Calculations do not account for personal tax, inflation or unstated changes in rates. The fictional bank manager can guarantee only that the next paragraph contains no real acorns.
Related reading
- This Is a Fictional Bank — No Real Banking Here
- Site Map — Every Branch of AcornBank
- Rates — Savings, Borrowing and Rewards
- Help — Unruffle Your Tail
- Savings — Pots, Bonds and Notice Hollows
- Hazelnut Fixed Cash ISA — Rates and Returns
AcornBank: entirely fictional banking, exceptionally committed squirrels.