Newcastle Single Access ISA (Issue 2)
A variable rate of interest which allows 1 penalty free withdrawal each anniversary year.
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Open with £1
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A variable rate of interest which allows 1 penalty free withdrawal each anniversary year
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1.70% tax-free pa/AER (variable) will be paid upon making 2 or more withdrawals.
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Apply online
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Apply in branch
Tax-free refers to the contractual rate of interest payable, where interest is exempt from income tax. The tax information provided is based on the current law and HM Revenue & Customs practice, both of which may change. AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
Financial Service Compensation Scheme (FSCS)
Your eligible deposits with Newcastle Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with Newcastle Building Society and Manchester Building Society (as a trading name of Newcastle Building Society). Any deposits you hold above the £120,000 limit are unlikely to be covered.
Summary box
| Account name | Newcastle Single Access ISA (Issue 2) |
|---|---|
| What is the interest rate? | 1 withdrawal or less (in each Annual Anniversary period) Annual tax-free pa/AER 3.65% (Variable) Interest is paid on: Annual anniversary of account opening. Upon 2nd withdrawal (in each Annual Anniversary period) Annual tax-free pa/AER 1.70% (Variable) Interest is paid on: Annual anniversary of account opening. |
| Can Newcastle Building Society change the interest rate? | We can change the rate of interest payable on this account. The account is a variable rate account which means the rate of interest paid may change throughout the lifetime of the account. Please refer to the ‘Interest, Charges and Changes’ section of the Savings General Terms & Conditions, which sets out the reasons for which Newcastle Building Society may change the interest and the procedure for doing so. The ‘upon 2nd withdrawal’ interest rate will apply from your 2nd withdrawal date until the day prior to your account opening Annual Anniversary date. The interest rate and withdrawal limits will be reset on your account Annual Anniversary date. On 30th November 2027 your account will mature into an easy access account with a variable interest rate. Please refer to point 10 of the Product Special Conditions, which can be found in the Newcastle Single Access ISA (Issue 2) Terms and Conditions below. |
| What would the estimated balance be after 12 months of account opening based on a £1,000 deposit? | No withdrawals (Variable) Please note this projection is based on an initial £1,000 Deposit. No further Deposits or withdrawals are made.
Please note: These projections are provided for illustrative purposes only and do not take into account customer’s individual circumstances. |
| How do I open and manage my account? | Opening your account: In branch or online. For existing customers you can also log in to your Newcastle Building Society account to apply. Giving us instructions for your account: In branch, by post, by telephone, or by secure message (for accounts opened and operated online). Funding my account: You can find information here on how to fund your new savings account Maximum Opening Deposit: Maximum ISA allowance for the current tax year, as prescribed by HM Revenue and Customs. Transfers from other ISA providers are also permitted. Minimum Operating Balance: £1 Maximum Account Balance: No maximum balance. Please refer to point 4 of the Product Special Conditions, which can be found in the Newcastle Single Access ISA (Issue 2) Terms and Conditions below. |
| Can I withdraw money? | Withdrawals/transfers can be made and are limited to 1 per Annual Anniversary period, to qualify for the ‘1 withdrawal or less’ rate. If 2 or more withdrawals are made from the account per Annual Anniversary period, you will be paid the ‘Upon 2nd withdrawal’ interest rate until the day before your account Annual Anniversary date. The number of withdrawals limit is reset on the account Annual Anniversary date each year. On 30th November 2027 your account will mature into an easy access account with a variable interest rate. Please refer to point 10 of the Product Special Conditions of the Product Special Conditions, which can be found in the Newcastle Single Access ISA (Issue 2) Terms and Conditions below. |
| Additional information | Tax status: ISA interest is paid tax-free, which means it’s exempt from income tax. Tax rules may change in the future. |
Transferring Windfalls to Charity
All new customers agree to assign any windfall benefits which they may become entitled to on a future conversion or takeover of the Society to the Community Foundation. This is our Charitable Assignment Scheme. By agreeing to this assignment, any windfall benefit will be given to the Community Foundation, one of the leading community foundations in the UK serving Tyne & Wear and Northumberland. This agreement lasts for the first five years of membership, is irrevocable and is a condition of opening an account. Your agreement to open an account with us will be deemed your agreement to the Charitable Assignment Scheme. Please see ‘Transferring windfalls to charity' or within our Savings General Terms and Conditions for further details.
Terms and conditions
Please make sure you've read the terms and conditions before applying
New customer
Apply for a new accountExisting customer
Log in to applyIn branch
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