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Nova ISA Direct

Piggy Bank

Up to 1.40% Gross*/AER**

Manage your cash ISA over the phone

Want a cash ISA that fits around your life? Then try our Nova ISA Direct account. It's a telephone banking account, so you can manage your savings from home, work or anywhere else you happen to be. And that means there's no need to go in branch when you want to access your cash ISA.

Easy access to your savings

You can manage your cash ISA from anywhere in the world. So when you want to make a withdrawal from you easy access savings ISA, simply give our savings line a call and have a chat with one of our friendly advisers. Lines are open 8am to 8pm Monday to Thursday, 8am to 6.30pm Friday, 9am to 5pm Saturday.

Tax free savings

An ISA savings account 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once you've reached your tax free savings limit, you cannot put any more money into your account - even if you've withdrawn funds during the year.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.

Features

Key Features

  • No notice for withdrawals
  • You can make variable contributions to your account subject to the annual limits
  • Interest is paid annually on 5th April and is credited to your account

Summary Box - Key Product Information for our Savings Account
Account Name Nova ISA Direct
Interest Rates Annual (Variable, Including Bonus) Annual (Variable, Excluding Bonus)
  1.40% Gross* 0.55% Gross*
  1.40% AER** 0.55% AER**
Tax Status Interest will be paid Gross*.
Conditions for bonus payment A 0.85% bonus is payable providing no more than two withdrawals are made in any one tax year.
Withdrawal arrangements Penalty free without notice.
Access By telephone.
  Additional Important Information
Interest Payment Annual
Minimum Balance £100
Maximum Balance £3,600
In addition transfers from other ISA providers are 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.

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ISA transfers

How to transfer ISAs in

You can also take advantage of previous years' ISA subscriptions by transferring your ISA(s) from other ISA providers to the Nova ISA Direct Account. 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 from your existing provider(s)
  • The name and address of your current ISA provider(s)
  • Your ISA number

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 when transferring any ISA subscriptions.

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Apply

How do I apply?

Step 1:
Carefully read the terms and conditions
Step 2:
Call us on 0845 606 5522 and complete the application form over the phone with one of our customer advisers

Alternatively, if you would prefer we can call you back. Our Call Centre is open 8am - 8pm Monday to Friday, 9am - 5pm on Saturday and closed on Sunday.

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* '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.