Notice ISA Issue 2

Our Notice ISA Issue 2 is a great way to take advantage of your tax-free ISA allowance. There’s no need to tie your money up, you’ll have access to your savings by giving us 30 days’ notice, or if you need, you can make emergency withdrawals subject to an interest charge. You can pay in a lump sum or make regular smaller payments throughout the year, the choice is yours. With this ISA, you can also transfer previous ISA subscriptions from other providers.

Read our ISA guide to find out more

Account details

  • Branch only savings offer


  • Access to your savings by giving 30 days’ notice


  • Instant access subject to 30 days’ loss of interest on the amount withdrawn


  • Tax-free savings


  • £1 required to open an account


  • Limited issue – may be withdrawn at anytime


Summary table

Account name

Notice ISA Issue 2

Interest rates (AERs)

Annual interest 0.75% tax-free p.a./AER*

The interest on this account is variable, this means that it can go up or down. The basis on which we might change your interest rate is set out in our terms and conditions

Tax status

Tax-free

Conditions for bonus payments

No bonus payable

Withdrawal arrangements

You can withdraw your money by giving us 30 days' notice. You can have instant access to your money in an emergency, but you'll be charged 30 days’ interest on the amount you withdraw

Access

Branch

Additional information

There are other savings accounts available with The Nottingham and other banks and building societies. Subject to withdrawal conditions you can switch accounts at any point



Want to discuss one of our savings products?

Visit a branch or call our customer service team to find out more about our accounts

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  • Rates & account details
  • Managing your account
  • Opening an account

Your interest

We will pay your annual tax-free interest into your Notice ISA Issue 2 on 5 April each year. Every April, we’ll send you a statement telling you how much interest you’ve earned, the rates that have applied to your account over the last year and the current rate of interest.

Paying money in


The minimum amount to open an account is £1. You can pay up to £15,240 in new ISA subscriptions this tax year. You can also pay in any previous ISA savings whether from an existing Nottingham Building Society ISA or one with another bank or building society. If you transfer money from a previous tax years’ ISA, it won’t affect your ISA limit for the current tax year.

To transfer funds from another ISA provider, all you need to do is complete an ISA transfer authority form. There’s no need to tell your current provider that you are moving your money, we’ll do that for you and arrange the transfer.

You will start to earn interest on the amount you transfer from the second working day after we receive the transfer cheque from your current ISA provider. Under the HMRC (HM Revenue and Customs) guidelines your current provider is obliged to complete the transfer within 15 days of receiving the request from us.

If you would like to use your maximum ISA allowance (£15,240) by investing in a stocks and shares ISA too, we can offer this through our financial planning service.

Please note that with a stocks and shares ISA, their value can fall as well as rise.

Taking money out


You can withdraw your money by giving us 30 days’ notice. You can have instant access to your money in an emergency, but you’ll be charged 30 days' interest on the amount you withdraw.

While you can make as many withdrawals from this account as you wish, there is an important rule to remember about cash ISAs. Once you have invested up to the maximum allowed for the tax year, you can’t add any more to your ISA even if you make a withdrawal. For example, if you invest your maximum allowance on 6 April 2016 and withdraw £500 on 6 December 2016, you would not be able to add any more to your account until 6 April 2017. However you can transfer your funds to a stocks and shares ISA and reinvest in a cash ISA as long as you don’t exceed the annual limit.

You must keep at least this £1 in your account at all times.

How to open

To open an account you must:

Call your local branch and speak to one of our advisers and find out how you could benefit from a savings account.

Current interest rates from 24 Aug 2016

Balance Tax-free p.a. / AER* Net rate
£1 - £750,000 0.75% Tax-free
*We will pay your interest free of UK income tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. The tax treatment of ISAs may also change. AER stands for Annual equivalent Rate. It shows what the interest rate would be if the interest was reinvested in the account each year. Interest rates are variable unless otherwise stated.

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