ISA FAQs

What is an ISA?
An Individual Savings Account (ISA) is a tax-efficient way to save or invest. UK residents aged 16 and over can choose to save in a cash ISA or if they are 18 or over, invest in a Stocks and Shares ISA or a combination of both. Parents or guardians can also open a junior ISA for children under 18. The interest on a cash ISA isn't taxed so all the interest you earn you keep.
What is the ISA Allowance?
Each tax year you have an ISA allowance, for the tax year 2016/2017 your allowance is £15,240. You can save this in a cash ISA or a stocks & shares ISA, or a combination of both.
How many ISAs can I have?
You can only save with one cash ISA provider in each tax year. You can also have a stocks & shares ISA with a different provider. Saffron Building Society does not offer a Stocks and Shares ISA. If you would like a Stocks and Shares ISA please ask in branch for an appointment with one of our IFAs or phone us on 0800 072 1100.
Does Saffron accept ISA Transfers from other ISA providers?
Most of our ISAs accept transfers in, however there are a few that don't. Please see Cash ISA savings accounts for more details.