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Reward ISA
Up to 2.75% Gross/AER*
An attractive rate with a reward bonus
If you're looking for an ISA with an attractive rate of interest and a reward bonus, you might be interested in our Reward ISA. The Reward ISA pays a bonus of 1.00% payable on the 1st anniversary of your account opening, so you can sit back and let your savings grow.
Transfer your ISA′s and benefit from this attractive rate
The great thing about our Newcastle Reward ISA is that you can transfer all your other ISA's held elsewhere so all your ISA's can benefit from this highly competitive rate.
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 £5,100 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once you've reached your tax free savings limit, you cannot put any more money into your account - even if you've withdrawn funds during the year.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 advisors will be happy to help. Simply pop into your local branch or call 0845 600 4368.
This cash ISA does not satisfy the minimum standards for a deposit-based stakeholder account.
Product Terms
General Terms and Conditions
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Summary Box Key Product Information for our Savings Account
| Account Name |
Newcastle Reward ISA |
| Interest Rates |
Annual (Variable) |
|
Including Bonus |
Excluding Bonus |
| |
2.75% Gross/AER* |
1.75% Gross/AER* |
| Tax Status |
Interest will be paid gross. |
| Conditions for bonus payment |
All rates include an unconditional bonus of 1.00% for the first 12 months from Account opening date. |
| Withdrawal arrangements |
Withdrawals are subject to 120 days notice or loss of interest |
| Account Operation |
By branch, post, telephone or online. |
| |
Additional Important Information |
| Interest Payment |
Anniversary of account opening |
| Minimum Balance |
£500 |
| Maximum Balance |
£5,100 Allowance for 2010/2011 tax year.
Transfers of past years ISA investments from other ISA providers are also permitted. |
Product Special Conditions
The Newcastle's General Investment Terms & Conditions will apply unless they are inconsistent with these Special Conditions, effective from the date of the account opening.
- The account is a variable rate Account with an unconditional bonus paid twelve months from account opening.
- The account can be operated by branch, post, telephone or online.
- The minimum investment in the account is £500. The maximum is your allowance for 2010/2011 tax year of £5,100 plus transfers from other ISA providers are also permitted.
- The account can be held in a single name only.
- After placing your Investment in the account you may make further deposits while the Account is a current issue. The Account is a strictly limited issue and may be withdrawn at any time.
- Interest is calculated daily and credited to the account on the 'Anniversary'.
- Withdrawals are available subject to 120 days notice or loss of interest.
- The account is not available to non UK residents.
- 'Anniversary' means twelve months from the date of opening and each subsequent twelve month period.
- The bonus on your account is calculated daily and will be paid on the account's anniversary.
- Details correct at 06/04/2010.
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ISA information
General Terms and Conditions
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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 £10,200.
There are two types of ISA:
Stocks and Shares ISA
A Stocks and Shares ISA enables you to invest up to £10,200 each tax year
Cash ISA
A Cash ISA enables you to invest up to £5,100 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 £10,200 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.
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Transfer your ISA
General Terms and Conditions
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How to transfer ISAs in
To take advantage of your previous years ISA subscriptions you can transfer your ISA(s) from other providers to the Newcastle.
Transferring your ISA from your existing provider to us is easy. Simply apply online today then complete a Customer Acceptance Transfer Form for each ISA you wish to transfer to us.
Once we have received your request we will write to your existing provider to request your funds. Your ISA will then be transferred to Newcastle Building Society. Your ISA MUST be transferred directly between your existing provider and the Newcastle.
Which form should I use?
Customer Acceptance ISA Transfer Form (PDF): You must complete this form in addition to you online application for each ISA you wish to transfer.
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* 'Gross' interest is the contractual rate of interest payable before the deduction of income tax. 'AER' means "Annual Equivalent Rate" and is a notional rate which illustrates the contractual interest rate (excluding any bonus payable) as if paid and compounded on an annual basis.
