Savings & Investments
Tax Free Savings Accounts
Types of Tax Free Savings Accounts:
ISA Reactivation
If you did not deposit any monies in your Cash ISA with the Society during the last tax year, or your account was previously a TESSA Only ISA, you can now deposit savings up to the £5,100 limit but you will be required to complete an ISA Reactivation Application Form.
90 Days Notice Cash ISA (Incorporating TESSA ISA)
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The 90 Days Notice Cash ISA is a variable rate account with a low minimum balance. To get the more favourable interest rate 90 days notice is required for withdrawals. This is an easy way to save tax-free. |
Key Features:
- Minimum balance £10.
- Maximum subscription £5100 each tax year.
- Having subscribed to a Cash ISA, you cannot subscribe to another Cash ISA in the same tax year.
- Available to individual sole investors aged 16 or over resident in the UK.
- Interest is compounded annually on the 5th April and is available from 6th April. It may be transferred to another account with the Society or to a bank account.
- Interest is calculated daily and is variable.
- Subscriptions must belong to the investor.
- To avoid loss of interest, 90 days notice of all withdrawals is required.
- Further subscriptions cannot be accepted into the account, which would exceed the total subscription limit for each tax year, even where a partial withdrawal has been made.
- Stakeholder is a set of voluntary standards for deposit products set by the Goverment relating to charges, access and terms of the account. Our Cash ISA is not stakeholder.
- The ISA Scheme is administered by HM Revenue & Customs. Further information is available on request.
To find out more about the 90 Days Notice Cash ISA, ring us on 0845 051 4422, visit one of our branches, or view our 90 Days Notice Cash ISA Savings (Incorporating TESSA ISA) leaflet. Please ensure this account is suitable for you, a Summary of Accounts leaflet is available.
Instant Access Cash ISA
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The Cash ISA provides the opportunity to earn very competitive tax-free interest. |
Key Features:
- Instant access.
- Minumum balance £10.
- Maximum subscription £5100
- Having subscribed to a Cash ISA, you cannot subscribe to another Cash ISA in the same tax year.
- Available to individual sole investors aged 16 or over resident in the UK.
- Interest is compounded annually on the 5th April and is available from 6th April. It may be transferred to another account with the Society or to a bank account.
- Interest is calculated daily and is variable.
- Subscriptions must belong to the investor.
- Further subscriptions cannot be accepted into the account, which would exceed the total subscription limit for each tax year, even where a partial withdrawal has been made.
- Stakeholder is a set of voluntary standards for deposit products set by the Government relating to charges, access and terms of the account. Our Cash ISA is non stakeholder.
- The ISA Scheme is administered by HM Revenue & Customs. Further information is available on request.
To find out more about the Instant Access Cash ISA Savings Account, ring us on 0845 051 4422, visit one of our branches, or view our Instant Access Cash ISA Savings leaflet. Please ensure this account is suitable for you, a Summary of Accounts leaflet is available.
The Government cannot guarantee the favourable tax treatment of ISA's and the situation may change in the future.
Transferring your existing ISA Savings to us:
Due to overwhelming demand based on our consistent rates please note - with effect from 9.00am on the 1st July 2010, the Society is no longer accepting ISA Transfers.
You may still open a new Cash ISA from the 6th April, providing you have not already subscribed this current tax year.