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Cash ISA

Save tax free with a Cash ISA.

Tax free savings

Find a Cash ISA that suits you.

FAQs

Frequently asked questions about Cash ISAs.

A Cash ISA is simply a savings account where you do not have to pay tax on the interest you earn.

The annual ISA allowance is set by the government. For the current tax year the ISA subscription limit is £20,000. Each tax year runs from 6 April.

No. A Cash ISA can only be held by an individual in a single name.

Our Cash ISAs are available for existing members or new applicants resident in our local postcode areas IP, NR, CO, CM, CB and PE. Applicants must be aged 16 or over to open a Cash ISA.

A Stocks and Shares ISA is an investment tool which allows holders to invest in equities (stocks and shares). Suffolk Building Society does not offer Stocks and Shares ISAs.

To check whether you can withdraw funds from your Cash ISA you will need to check your individual product terms and conditions.

You can only invest into one Cash ISA in each tax year, regardless of how many Cash ISAs you may hold with different providers.

Yes, you can hold more than one Cash ISA with different providers. However, you cannot invest into more than one Cash ISA in each tax year.

To check whether you can transfer-in funds from your other Cash ISA(s) you will need to check the individual product terms and conditions. It is important you follow the transfer-in procedures to protect the tax free status of your funds, rather than withdrawing your money and paying into the new account yourself – the latter would be seen as a new investment and then subject to the maximum subscription limits for that tax year.

Cash ISA

How to open your Cash ISA.

If you’re ready to open your savings account by post you’ll need to do the following:

  1. Download, read and accept the terms and conditions, using our savings account finder.
  2. Be an existing member or a new applicant resident in our local postcode areas IP, NR, CO, CM, CB and PE
  3. Read and retain the Financial Services Compensation Scheme (FSCS) information sheet

We will require proof of your identity to open a new account if you are a new customer. For existing members we may request identification, for example if your records with us are incomplete.

Completed application forms should be posted to Suffolk Building Society, Freehold House, 6-8 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.

 

 

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