Newcastle Building Society

Newcastle 55 Cash ISA

Piggy Banks

2.00% Gross*/AER**

Saving is easy with the Newcastle 55 Cash ISA

As you get older, the way you use your savings account changes. So in order to meet these changing needs, we've created a saving account for savers aged 55 years or over.

A high interest account that gives you instant access to your savings

The Newcastle 55 Cash ISA is a saving account that tracks the Bank of England base rate, so you'll always get a competitive rate on your savings. What's more, you'll have instant access to your money - just pop into your local branch.

Tax free savings

An ISA is essential if you want to take advantage of your tax free savings allowance. Each year, you can invest up to £3,600 in cash ISAs and because you don't have to pay any tax, you can usually get the best savings interest rates from these accounts. But remember, once you've reached your tax free savings limit, you cannot put any more money into your account - even if you've withdrawn funds during the year.

Is this account right for you?

If you're still wondering which savings account is right for you, our friendly advisers will be happy to help. Simply pop into your local branch or call 0845 606 5522.

This cash ISA does not satisfy the minimum standards for a deposit-based stakeholder account.

Maximise your tax free allowance and open the account as an ISA, or alternatively a Direct Investment Account can be opened

Overview

Summary Box - Key Product Information for our Savings Account
	Additional Important Information
Account Name	Newcastle 55 ISA
Interest Rates	Annual (Variable)
	2.00% Gross*
	2.00% AER**
	Guaranteed not to fall further than 0.25% below the Bank of England Base Rate until 5th April 2010.
Tax Status	Interest will be paid gross.
Conditions for bonus payment	No bonus is applicable
Withdrawal arrangements	Penalty free without notice.
Access	By branch, post or telephone.
Maturity Date	5^th April 2010
Interest Payment	Annual
Minimum balance	£1
Maximum balance	£3,600 allowance for tax year, transfers from other ISA providers also permitted.

* 'Gross' interest is the contractual rate of interest payable before the deduction of income tax.
** 'AER' stands for the Annual Equivalent Rate, a notional rate which illustrates what the interest rate would be if paid and compounded on an annual basis.

What if I need to access my money?

You can withdraw your money without notice by visiting your local branch with your passbook. You may be asked to show proof of identity when doing this.

What happens on the maturity date?

On maturity the Newcastle 55 Cash ISA will be automatically transferred to the Newcastle's Nova ISA variable rate no notice account and Nova ISA terms and conditions will apply. Details of each of these accounts are available upon request.

Making use of your ISA allowance

An ISA gives you the option to use your tax free savings allowance. The overall annual subscription limit is currently £7,200.

There are two types of ISA:

Stocks and Shares ISA

A Stocks and Shares ISA enables you to invest up to £7,200 each tax year

Cash ISA

A Cash ISA enables you to invest up to £3,600 each tax year.

The Newcastle Building Society is an approved ISA Manager, managing Cash ISAs. We can refer you to Newcastle Financial Services Ltd (NFSL) who can advise on a range of Stocks and Shares ISAs.

You do not have to hold both ISA elements. You can invest in both a Cash ISA and a Stocks and Shares ISA providing you do not exceed the maximum allowance of £7,200 for each tax year. You can not subscribe to more than one Cash ISA or more than one Stocks and Shares ISA in the same tax year.

You can transfer your current year subscriptions from a Cash ISA to a Stocks and Shares ISA. The subscriptions into the Cash ISA are then treated as if they were made to the Stocks and Shares ISA, allowing you to subscribe to a Cash ISA following the transfer.

This Cash ISA does not satisfy the minimum standards for a deposit-based stakeholder account.

Transfer your ISA

To take advantage of your previous years ISA subscriptions you can transfer your ISA(s) from other ISA providers to the Newcastle Building Society.

Transferring your ISA from your existing provider to us is easy. All you need to do is provide us with the following information:

Signed Confirmation that you wish to transfer your ISA(s) from your existing provider(s).
The name and address of your current ISA provider(s)
Your ISA number(s)

When making an ISA transfer please complete a Customer Acceptance Transfer Form as well as a Customer Acceptance Form. This will give us the information we require and should also be used when transferring subscriptions from previous years and investing funds in the current tax year. You must transfer all of the money you put into your ISA in previous years. We will not accept partial ISA transfers.

Once we have received your request we will write to your existing provider(s) to request your funds. Should your existing provider(s) have any queries, or should you incur any charges for transferring, you will need to contact them directly to resolve these issues.

Your ISA will then be transferred to Newcastle Building Society. Your ISA MUST be transferred directly between your existing provider and the Newcastle. You cannot close your existing ISA yourself and then open an account with funds from previous tax years.

Which form should I use?

Customer Acceptance Form (PDF): You must complete this form for all ISA applications.

Customer Acceptance ISA Transfer Form (PDF): You must complete this form in addition to the Customer Acceptance Form when transferring any ISA subscriptions.

How do I apply?

Step 1:: Carefully read the terms and conditions
Step 2: Decide how much you would like to invest.
Step 3: Apply by calling into your local branch, by post using the form below or by telephone.

To apply by post, simply print off and complete the required application form below:

Application form (Cash ISA)

Send your completed application form into us at the following address:

Newcastle Building Society
FREEPOST NT330
Portland House
New Bridge Street
Newcastle-upon-Tyne
NE1 1BR

Or Alternatively, you can call us on 0845 606 5522 and complete the application form over the phone with one of our customer advisers, or, we can call you back. Our Call Centre is open 8am - 8pm Monday to Friday, 9am - 5pm on Saturday and closed on Sunday.

Online Accounts Login

Retirement Planning - Will Writing Service