Newcastle Building Society Knaresborough: Your friendly ISA experts on the high street

At Newcastle Building Society, we understand the world of finances and savings can be complex and confusing to navigate at times – but opening an ISA this new tax year could be simpler than you think!

ISAs can be a great way to achieve your long-term financial goals – whether that’s saving money for a rainy day, buying your first home, or helping your children with their future. Any money you contribute to your ISA will earn interest – and any interest you earn is tax-free.

Whatever your savings goals are for the new tax year, your Knaresborough branch is here to help break down what ISAs are, how they work, and help you find the right tailored savings support.

Here are three things you need to know about ISAs

1. You can contribute up to £20,000 each tax year into your ISA (from 6th April 2024 to 5th April 2025).

2. All interest is tax-free. Whatever growth your money earns, you don’t have to pay tax on it. And tax benefits are automatic – no need to fill out long, complicated forms to claim it.

3. There are different types of ISAs you can choose based on your needs and circumstances, and your local Knaresborough branch can help you understand each one to help you make an informed choice.

What are my ISA options?

Generally, there are lots of types of cash ISAs available to you this new tax year, including:

· Cash ISA – Simply deposit your money and it’ll earn interest every year

· Lifetime ISA – Save for your first home or retirement and get a 25% bonus from the Government on top of the interest you earn*

· Junior ISA – Tax-free savings for kids, managed by parents until they’re 18

The ISA that’s right for you depends on your personal situation and saving goals, and whether you prefer having easy access to your money, or if you’re happy to put it away for longer.

Would a free, quick chat about your ISA options help?

Whether you’re new to the world of tax-free savings and need a comprehensive understanding of the rules, you’re navigating the complexities of choosing the right ISA before this new tax year, or you’re ready to open your very own ISA, we’re here to assist you every step of the way.

At Newcastle Building Society, we understand that achieving your saving goals requires more than just opening an account. The hopes and goals you have for your future are as unique as you – and the best way to help you achieve those goals is to provide support that’s unique too. That’s why we take the time to get to know you and develop tailored savings support that works for you – helping you make informed decisions with confidence.

Newcastle Building Society

Get in touch with us to start saving for your financial future today

Pop into your local branch in Knaresborough

Visit our website at newcastle.co.uk/savings to find out more

*Please note: You will only receive the Government’s 25% bonus if you go on to use the savings in your Lifetime ISA towards the deposit on your first home and/or towards your retirement after saving for a minimum of 12 months. If you make a withdrawal not connected to these two events, then a 25% penalty will apply to the amount you withdraw. This will recover the Government’s bonus and you will get back less than you have saved.

Newcastle Building Society Principal Office: 1 Cobalt Park Way, Wallsend, NE28 9EJ. Newcastle Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Newcastle Building Society is entered in the Financial Services Register under number 156058. You can check this on the Financial Services Register or by contacting the Financial Conduct Authority on 0800111 6768. Call 0345 734 4345 or visit us online www.newcastle.co.uk