- 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.