Our Online Cash ISA allows you to save flexibly using your ISA allowance so you can make the most of tax-free saving.

You can invest as little as £1 and top it up in lump sums or set up monthly payments.

It's for anyone who wants to take advantage of tax-free savings and have complete flexibility over how and when you save and when you access your money.

The interest rate is currently paying 2.30% tax free pa/AER variable.

We've teamed up with Skipton Building Society to give you an competitive rate, so you can be safe in the knowledge that you're getting the most out of your Cash ISA.

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

2. Gross means the interest paid before the deduction of income tax at 20%.

3. Your tax treatment will depend on your individual circumstances and may be subject to change in future.

As it's an ISA there is no tax to pay. So it's completely tax-free.

You can access and withdraw your money at any time without any penalties using your personal online account once your ISA has been set up.

An ISA is an Individual Savings Account, which was set up as a tax-efficient personal savings plan to replace PEPs (Personal Equity Plans) in 1999.

It allows all UK taxpayers to save and invest up to a total of £11,280 within an ISA for the tax year 2012/13 which means that the returns are free from being taxed.

You can invest in two separate ISAs in any one tax year: a Cash ISA and a Stocks and Shares ISA with the same or different companies.

Up to £5,640 can be subscribed to a Cash ISA. Any amount not invested in a Cash ISA can be invested in a Stocks and Shares ISA subject to the maximum £11,280 limit for this tax year.

So if you invest £2,000 in a Cash ISA you will have £9,280 left to invest in a Stocks and Shares ISA in a tax year.

You need to be 16 to start a Cash ISA and 18 to start a Stocks and Shares ISA.

Once you have fully subscribed your tax-free ISA allowance in a tax year, any amount subsequently withdrawn, cannot be reinvested.

You can top up your Cash ISA at any time using your online account until the subscriptions the limit of £5,640 for the 2012/2013 tax year.

When you open an Online Cash ISA, you automatically get an online account which gives you the option to pay in, take money out or view your statements whenever you want to.

Skipton Building Society is the UK's fourth largest building society. It was founded in 1853 and today has over 100 branches and 850,000 members across the UK.

The value of a Cash ISA will not decrease because it's not invested in stock market investments.

Skipton Building Society is also covered by the Financial Service Compensation Scheme (FSCS). For further information about the scheme, including amounts covered and eligibility to claim, please refer to www.fscs.org.uk or call the FSCS on 020 7892 7300.

I understand that for the purposes of the Data Protection Act 1998 that Police Mutual and Skipton Building Society will be the data controllers responsible for the processing of my data.

I consent to the data I input in support of my application being stored securely for monitoring purposes and I agree that it may be used by Skipton Building Society to contact me should any queries arise concerning my application. You can find out more about how Police Mutual will use your data by reading our privacy policy.

If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies.

Law enforcement agencies may access and use this information.

We and other organisations may also access and use this information to prevent fraud and money laundering, for example when:

- Checking details on applications for credit and credit related or other facilities
- Managing credit and credit related accounts or other facilities
- Recovering debt
- Checking details on proposals and claims for all types of insurance
- Checking details of job applicants and employees

Please contact Skipton at the Compliance department, Skipton Building Society, The Bailey, Skipton, North Yorkshire, BD23 1DN if you want to receive details of the relevant fraud prevention agencies.

Skipton and other organisations may access and use from other countries the information recorded by fraud prevention agencies.

An account number will be allocated when you apply online. Please note that the Online Cash ISA is not open until cleared funds have been credited to it.

Applications are submitted online and we will store your details and responses electronically. The system will prompt you to correct obvious omissions or errors. If you feel you need to make other corrections please cancel the application and start again.

If you will require your interest payments to be made to another bank or building society account please ensure you have account numbers and sort codes ready.

If you do not have an existing account with the Society, proof of ID and verification of address may be required to be sent with the application. Details of our requirements will be given during the online application process.