Use it or lose it: why you should make the most of your ISA allowance with Newbury Building Society

Did you know that you can't roll over your ISA allowance from one tax year to another? This means if you fail to use your capped £20,000 for 2022/23 by 5 April 2023, it’ll be gone for good.

There is still plenty of time to open an ISA before the deadline if you want to take advantage of tax free savings sooner rather than later. All you need to do is find a bank or building society right for you, and that's where we come in! So, why should you open an ISA before the end of the tax year with us?

You don’t need a large sum to start with

Contrary to what lots of people believe, you don’t actually need a lump sum to open an ISA. In fact, our Easy Access Cash ISA can be opened in branch or by post with as little as £50, which you can add to as and when you can afford it. 

Safety first

All of our ISAs are cash ISAs. This means you get a guaranteed return on your money, dependent on the interest rate on the account. Cash ISAs are considered to be less risky than stocks and shares ISAs, as your money isn't invested in equities which are traded on the stock market. The value of your investment in these kind of ISAs may move up and down, and could result in you getting back less than you originally paid in.


As a mutual society, we're owned by our members. Instead of having shareholders that we have to answer to, our savers and borrowers collectively own the business. Because of this, we take direction from, and seek involvement and feedback from those within the communities we operate in.

When you open an account with a starting deposit of at least £100, you automatically become a Newbury Building Society member and you're entitled to attend and vote at our Annual General Meeting (AGM) on topics like the election of our Directors.

Easy access

Some savers steer clear of ISAs because they think they'll have to lock up their money for the long-term. We know how important easy access to your savings is, particularly with the current cost of living crisis, but that thankfully that doesn't mean you can't put your savings in an ISA and reap the tax-free rewards.

With our Easy Access Cash ISA, you can withdraw your money without any notice period or penalty. You can also replace any funds you withdraw without it impacting your annual ISA allowance of £20,000. However, it is important to remember that any replacement savings must be paid into your ISA before the close of business on 5th April after the withdrawal. If you don't do this, the money will go towards your next annual allowance instead of the current one.

If you are looking to lock away your money for a set period of time for a specific purchase, you could consider our Notice Cash ISA, which has a 60 day notice period for withdrawals.

People, not robots

When you transact with the Newbury, there's always a person at the other end of the phone (or email!) who will take the time to discuss and understand your needs. We're not a faceless organisation, and we strive to understand each and every customer and tailor our services to fit them.

You don't have to take our word for it, we have hundreds of testimonials on independent review website, Smart Money People, submitted by many of our savers who love the service we provide.

If you would like to discuss opening an ISA with us, visit your local branch or contact us online and one of our Qualified Savings Advisers will be in touch. Savings appointments can be undertaken in branch, in person, by video or by telephone. 

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