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Mutual Respect

From your local mortgage and savings experts

Tel: 

01635 555777

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ISAs

We love looking after our members' savings and are proud of the service we provide them.

ISAs

Individual Savings Accounts (ISAs) are an easy way to save money without having to pay tax on the interest you earn. Our range of Cash ISAs are open to new and existing members.

Cash Junior ISA
2.50% Tax Free / AER

Key Features

Interest rates (AERs)

  • Available here.
  • Variable - may be subject to change in the future.
  • Calculated daily and paid annually on 31 October into the account.

Tax status

Tax free (interest is exempt from income tax). Tax treatment depends on individual circumstances and may be subject to change in the future.

Conditions for bonus payment

n/a

Withdrawal arrangements

  • No withdrawals are permitted
  • On the 18th birthday of the holder, the account will be transferred to an easy access adult Cash ISA and the holder will be able to make withdrawals.

Access

Branch/Post

 

2.50% Tax Free / AER

This rate is for balances from £50.

We accept savings applications from new members in the following areas: AL, BA, BH, BN, BS, DT, GL, GU, HA, HP, KT, MK, OX, PO, RG, RH, SL, SN, SP, SO, TW, UB, WD.

We accept savings applications from existing members regardless of their postcode.

Apply Now

Complete the form below and return to your local branch. You should also read Identification for customers and Savings terms and conditions to ensure you understand the features and conditions of what you are buying.

Print Page Print Page
Print Page PDF

Additional Information

Type of ISA
Cash Junior ISA. Junior ISA (JISA) became available from 1 Nov 2011. A JISA is a type of ISA available to eligible children.

Minimum opening balance
£50

Minimum operating balance
£50. If the balance falls below the the minimum operating balance a nominal interest rate applies (see Current interest rates for more details).

New investors
Yes.

Eligibility requirements
A child is eligible for a Cash Junior ISA if, when the application is made:

  • They are under age 18.
  • They do not hold a Child Trust Fund.
  • They are resident in the UK.

For children under 16, a person with parental responsibility must apply to open the account.

Over 16's can apply directly, or a person with parental responsibility can apply to open the account on their behalf.

ISA transfers in
Yes. Transfers from existing Cash Junior ISA’s, held with other providers, are accepted.

ISA transfers out
Yes. Investors can transfer all or part of their ISA funds (subscriptions) between Newbury Building Society accounts or to another ISA provider. Please note that HMRC rules require that transfers of the current year’s subscriptions are made in full.

Restricted deposit
There are two types of JISA - Cash and Stocks and Shares. You can hold one of each type until the age of 18. Once you have invested the full subscription for the year, you cannot make additional investments. We do not currently provide a Stocks and Shares junior ISA.

Annual JISA allowance

Tax year Cash JISA allowance Total JISA allowance (Cash JISA and Stocks and shares JISA)
6 April 2013 - 5 April 2014 Up to £3,720 Up to £3,720
6 April 2014 - 5 April 2015 Up to £3,840 Up to £3,840


Charges
Not for the normal operation of the account (see our Savings terms and conditions PDF for more details).


Additional benefits

  • Member Loyalty Card enabling discounts and special offers from local traders who participate in our scheme.

Similar products
Square deal Cash ISA
Suitable if you are aged 16 or over, require easy access to your savings and have not subscribed to a Cash ISA in the current tax year.
Young Saver
Suitable if you are aged under 18 and require easy access to your savings.

General Junior ISA terms and Conditions

  • An JISA may only be held by an investor in his or her sole name. Joint accounts are not allowed. You must be under 18 years of age to invest in an JISA.
  • The registered contact is the person who can agree with the account manager the terms and conditions under which the account will operate, and give instructions to the account manager for the management of the account. There can be only one registered contact for an account at any time. The registered contact will be:
    a) The child holding the account if they are aged 16 or over and have taken on management of the account by making an application to the account provider for registered contact status, or
    b) A person with parental responsibility for the child holding the account.
  • All correspondence will be sent to the registered contact.
  • All JISA investments will be and must remain in the beneficial ownership of the child. Any rights in respect of your JISA may not be assigned and those rights may not be used as security for a loan.
  • All subscriptions to the JISA are a gift to the child, and as such cannot be repaid to the subscriber if at a later date the subscriber changes their mind.
  • A JISA may not be transferred from one investor to another.
  • The child is resident in the United Kingdom or is a UK Crown Servant, a dependant of a UK Crown Servant or is married to, or in a civil partnership with a UK Crown Servant.
  • The start date for your JISA is the date of the first deposit.
  • On the instructions of the registered contact a JISA with all rights and obligations shall be transferred to another ISA manager within five working days.
  • You must not subscribe more than the overall subscription amount in total to a Cash JISA and Stocks and Shares JISA in the same tax year. Once the limit has been reached for the tax year you cannot make further subscriptions.
  • In the event of death of the child, the JISA must cease on the date of death. Interest will be paid gross up to and including the date of death. The account will be transferred into an interest bearing account in the names of the personal representatives. Interest arising after the date of death will be subject to deduction of income tax at the appropriate rate.
  • For a period of 30 days after opening the JISA, the registered contact may instruct us that they have changed their mind and we will return the deposit to the child, subject to cheque clearance, with any accrued interest. The 30 day cancellation period starts on the day you open your Cash JISA and ends at close of business on the 30th calendar day. To cancel the JISA agreement with us, you can either visit or write to your local branch, enclosing your passbook. No administration charges will be made.
  • Newbury Building Society will notify the registered contact if, by reason of failure to satisfy the provisions of the JISA regulations, a JISA has, or will, become void.


Tax free is the contractual rate of interest payable where interest is exempt from income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

WE HAVE NO CURRENT PLANS TO WITHDRAW THIS PRODUCT BUT IT MAY BE WITHDRAWN WITHOUT NOTICE

Square deal Cash ISA
1.50% Tax Free / AER

Key Features

Interest rates (AERs)

  • Available here.
  • Variable, guaranteed to be at least equal to the Bank of England base rate. The interest rate will change no later than 15th of the month following the month during which the Bank of England base rate changes.
  • Calculated daily and paid annually on 31 October into the account, to another Society account or your bank account.

Tax status

Tax free (interest is exempt from income tax). Tax treatment depends on individual circumstances and may be subject to change in the future.

Conditions for bonus payment

n/a

Withdrawal arrangements

Easy access 

  • You can withdraw up to £350 cash a day.
  • Easy access by cheque against cleared funds.

Access

Branch/Post/Online 

1.50% Tax Free / AER

This rate is for balances from £50. We accept savings applications from new members in the following areas: AL, BA, BH, BN, BS, DT, GL, GU, HA, HP, KT, MK, OX, PO, RG, RH, SL, SN, SP, SO, TW, UB, WD. We accept savings applications from existing members regardless of their postcode.

Apply Now

Complete the form below and return to your local branch. You should also read Identification for customers and Savings terms and conditions to ensure you understand the features and conditions of what you are buying.

Print Page Print Page
Print Page PDF

Additional Information

Type of ISA
Cash ISA

Branch access
A passbook is issued for all accounts, including those opened online. This enables you to use our branch deposit and withdrawal service.

Online access
You can register with ‘myaccounts’ our online service to view your account(s) online, use secure messaging and request online withdrawals to your nominated bank account. Online withdrawal access is not available to accounts with a Power of Attorney, Nominee or Executor. The minimum withdrawal online is £50.

Minimum opening balance
£50

Minimum operating balance
£50. If the balance falls below the minimum operating balance a nominal interest rate applies (see Current interest rates for more details).

Age requirements

Available to those aged 16 years and over for branch and postal operation. To operate an account online the minimum age is 18 years.

ISA transfers in
No. Transfers from existing Cash ISA’s, held with other providers, are not accepted.

ISA transfers out
Yes. Investors can transfer all or part of their ISA funds (subscriptions) between Newbury Building Society accounts or to another ISA provider. Please note that HMRC rules require that transfers of the current year’s subscriptions are made in full. 

Please see the leaflet 'Transferring your cash ISA', for an overview of the typical process involved in transferring your ISA from one provider to another.  Please note the process may vary between ISA providers.


Annual ISA allowance

Tax year Cash ISA allowance  Total ISA allowance (Cash ISA and Stocks and shares ISA) 
6 April 2013 - 5 April 2014 Up to £5,760 Up to £11,520
6 April 2014 - 5 April 2015 Up to £5,940 Up to £11,880



Online withdrawals
If you register with ‘myaccounts’ you can request an online withdrawal to your nominated bank account. Online withdrawal requests received before 2pm on a business day will be processed that day and funds will be available in the destination account the following business day. Requests received after 2pm will be deemed to have been received on the following business day.

Charges

Not for the normal operation of the account (see our Savings terms and conditions PDF for more details).

Additional benefits

  • Annual savings review.     
  • Member Loyalty Card enabling discounts and special offers from local traders who participate in our scheme.

Important information
Stakeholder products meet Government standards on charges, access and terms. Our ISA is not a stakeholder product because the minimum opening balance is more than £10. The ‘stakeholder’ label is designed to identify a range of straightforward savings products which are simple, clear and fair so that savers should feel confident about choosing them. However, just because an ISA meets the stakeholder standards does not mean that the ISA is appropriate for every saver, the performance of the ISA is guaranteed, or the ISA is government approved. Stakeholder products are not necessarily better.

  • An ISA may only be held by an investor in his or her sole name. Joint accounts are not allowed. You must be at least 16 years of age to invest in a Cash ISA.
  • You can save in a Cash ISA with one provider per tax year (6 April to 5 April). Subscriptions to Cash ISAs count towards the total annual ISA allowance. The remainder of the annual ISA allowance can be invested in a Stocks and Shares ISA with either the same or another provider. Alternatively, the full ISA allowance can be invested in a Stocks and Shares ISA with one provider. We do not currently provide a stocks and shares ISA.
    Withdrawals have no effect on subscription limits. Once you have invested the full subscription for the year, you cannot make additional investments, regardless of withdrawals made during the tax year or the balance of the account.
  • All ISA investments will be and must remain in the beneficial ownership of the investor.  Any rights in respect of your ISA may not be assigned and those rights may not be used as security for a loan.
  • An ISA may not be transferred from one investor to another.
  • You must be resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or you must be married to, or in a civil partnership with, a person who performs such duties. You must inform Newbury Building Society if you cease to be so resident or to perform such duties or be married to, or in a civil partnership with, a person who performs such duties.
  • The start date for your ISA is the date of the first deposit.
  • On the instructions of the investor and within the time stipulated by the investor (subject to a minimum period of 5 working days), an ISA with all rights and obligations shall be transferred to another ISA manager.
  • The ISA must cease on the date of death of the investor.  Interest will be paid gross up to and including the date of death. The account will be transferred into an interest bearing account in the names of the personal representatives.  Interest arising after the date of death will be subject to deduction of income tax at the appropriate rate.
  • You do not have to pay income tax on the interest paid in each of the years that you have your ISA provided all the ISA terms and conditions have been followed.
  • If you do not subscribe (make any investments) to your ISA in any one tax year, under Her Majesty’s Revenue and Customs (HMRC) rules, you will be required to complete a new application form should you wish to continue to invest in subsequent years.
  • For a period of 30 days after opening your ISA, you may instruct us that you have changed your mind and we will return your deposit to you, subject to cheque clearance, with any accrued interest (tax will not be deducted). Alternatively, we can help you switch to another savings account with us (conditions allowing). The 30 day cancellation period starts on the day you open your Cash ISA and ends at close of business on the 30th calendar day. To cancel your ISA agreement with us, you can either visit or write to your local branch, enclosing your passbook. No administration charges will be made.
  • Newbury Building Society will notify the investor if, by reason of failure to satisfy the provisions of the ISA regulations, an ISA has, or will, become void.
  • Newbury Building Society will satisfy themselves that any person to whom it delegates any of its functions or responsibilities under the terms agreed with the investor is competent to carry out those functions and responsibilities.


 
Tax free is the contractual rate of interest payable where interest is exempt from income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

WE HAVE NO CURRENT PLANS TO WITHDRAW THIS PRODUCT BUT IT MAY BE WITHDRAWN WITHOUT NOTICE

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Newbury Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number 206077). Registered office: Newbury Building Society, 17 Bartholomew Street, Newbury, Berkshire, RG14 5LY.

English law applies and we will communicate with you in English. We are participants of the Financial Ombudsman Service. We have a complaints procedure which we will provide on request. Most complaints that we cannot resolve can be referred to the Financial Ombudsman Service.

You can check the Financial Services register on the FCA's website.

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