3.4% ISA with Newcastle Building Society
-47°Expired

3.4% ISA with Newcastle Building Society

14
Found 11th Apr 2010
**CREDIT TO HUKD MEMBER '059' FOR SUGGESTING THIS IN THE MISC SECTION**

Balance Builder ISA

Balance Builder ISA
Up to 3.40% Gross* / 2.00% AER**

Build your tax-free ISA allowance with regular monthly payments

The Balance Builder ISA combines two fundamentals of saving:

* Saving reguarly to ensure that your savings grow whilst you earn, as it's designed for regular monthly payments from only £100.
* Ensuring all the interest earned is paid to you, through making the most of your annual tax free allowances.

Transfer your ISAs and benefit from this attractive rate

The Balance Builder ISA also allows you to transfer all your other ISAs held elsewhere so all your ISAs can benefit from this highly competitive rate, as long as a minimum of nine Monthly Payments are made before Account Anniversary.
Manage your cash ISA online, by phone or in branch

You can choose to open your Balance Builder ISA as an online ISA, a telephone banking account or in branch. This gives you the flexibility to manage your cash ISA from home or work, so it's perfect if you have a hectic life.
Tax free savings

An ISA is essential if you want to take advantage of your tax free savings allowance. Each year, you can invest up to £5,100 in cash ISAs and because you don't have to pay any tax, you can usually get the best savings interest rates from these accounts. But remember, once you've reached your tax free savings limit, you cannot put any more money into your account - even if you've withdrawn funds during the year.
Is this account right for you?

If you're still wondering which savings account is right for you, our friendly advisers will be happy to help. Simply pop into your local branch or call 0845 600 4368.

This cash ISA does not satisfy the minimum standards for a deposit-based stakeholder account.

* Product Terms
* ISA information
* Transfer your ISA
* Apply
* Payments

Product Terms

PDF Logo General Terms and Conditions

Apply Online

Summary Box Key Product Information for our Savings Account Account Name Balance Builder ISA
Interest Rates Paid on Account Anniversary
Variable, Excluding Bonus Variable, Including Bonus
2.00% AER** 3.40% Gross*
Tax Status Interest will be paid Gross*.
Conditions for bonus payment You must make at least nine further Monthly Payments before the Maturity Date and the account must remain open until the Account Anniversary.
Withdrawal arrangements Withdrawals can be made without notice or penalty.
Account Operation By branch, post, telephone or online.
Additional Important Information
Maturity Date Account Anniversary
Interest Payment Account Anniversary
Minimum Balance £1
Maximum Balance £5,100 Allowance for 2010/2011 tax year.
Transfers from other ISA providers are also permitted.
Minimum Regular Investment £100
Maximum Regular Investment £500
Subject to usual ISA limits.

Product Special Conditions

The Newcastle's General Terms & Conditions will apply unless they are inconsistent with these Special Conditions, effective from the date of the account opening.

1. The account is a variable rate account.
2. The account can be operated in branch, by post, telephone or online.
3. The minimum balance to be held in the account is £1. The maximum investment is your allowance for 2010/2011 tax year of £5,100. Transfers from other ISA providers are also permitted.
4. The account can be held in a single name only.
5. Withdrawals can be made without notice or penalty.
6. Interest is calculated daily and is credited to the account on Account Anniversary.
7. The bonus on the Account is variable, calculated daily and is paid on the Maturity Date.
8. To qualify for a bonus you must make at least nine further Monthly Payments before the maturity date and the account must remain open until the Account Anniversary.
9. A 'Monthly Payment' is defined as a minimum investment of £100 and a maximum of £500 in a calendar month.
10. 'Account Anniversary' means twelve months from account opening and each subsequent twelve month period.
11. On maturity the Account will automatically transfer to the Newcastle's Maturity+ ISA (Issue 2). A no notice, penalty free variable rate ISA.
12. Details are correct as at 06/04/2010.

14 Comments

Should be made clear in the title this is a regular saver ISA. Or show the rate as 2%.

Also..... different min/max monthly limits but this one is 4% gross : principality.co.uk/def…871

For the last four years I have been getting over £1k interest on my Halifax ISA, this year I got £82 !

diabeticguy;8340278

For the last four years I have been getting over £1k interest on my … For the last four years I have been getting over £1k interest on my Halifax ISA, this year I got £82 !



go on rub salt in my wounds, its been the same for me. Year after year being a prudent saver got some very nice returns on my savings plus not being in debt or owing any money at all then I get a kick in the proverbials.

simplyjimbo;8340321

go on rub salt in my wounds, its been the same for me. Year after year … go on rub salt in my wounds, its been the same for me. Year after year being a prudent saver got some very nice returns on my savings plus not being in debt or owing any money at all then I get a kick in the proverbials.



Stupid BofE, stuffing the savers to look after the Bankers (with a W)

simplyjimbo;8340321

go on rub salt in my wounds, its been the same for me. Year after year … go on rub salt in my wounds, its been the same for me. Year after year being a prudent saver got some very nice returns on my savings plus not being in debt or owing any money at all then I get a kick in the proverbials.



Would appreciate a heads up as to what your next move is going to be....I will come with you.

Abbey Flexible ISA is 3.2% Minimum for 12 Months and tracks the base rate, so if rates go up this year, so will your interest. Take it out in an Abbey Branch and manage in branch or online. After 12 months just move to the next great deal!

Save upto £5100 in cash tax free maximum. No Transfers in though.

Thats £163.20 Tax Free Interest on £5100 over a year, or more if base rates go up.

santander.co.uk/csg…eW2

diabeticguy;8341045

Would appreciate a heads up as to what your next move is going to be....I … Would appreciate a heads up as to what your next move is going to be....I will come with you.



I am still out on what to do next. Once I find something good I shall post it, I just hope it is soon.

I'm still tempted by this, partly because I can bail out after a year, also because I have £9k to shift urgently. The downside is setting up a dd.

Also considering - kent reliance have 4% fixed until sept 2014. Penalty for withdrawal is 100 days loss of interest. Postal
And possibly C&G Fixed-Rate ISA - Issue 5 - 3.5% You can transfer additional cash ISA savings from previous tax years
Emergency withdrawal facility, subject to a charge equivalent to 120 days’ gross interest on the amount withdrawn . Fixed until 30 June 2012

Is there any restrictions on shifting Old money but not using the same Isa for current New money. I've been assuming there is.
If not index linked gov bonds are looking more attractive until a decent ISA comes up for new money.
I feel there's a good Isa deal around the corner waiting to launch... (wistful smilie)

I have a personal aversion to Spanish banks as I have an account with them, held since it was Girobank.

Banned

diabeticguy;8340278

For the last four years I have been getting over £1k interest on my … For the last four years I have been getting over £1k interest on my Halifax ISA, this year I got £82 !



dcx_badass;8341722

I would have got £300 in interest last April at 5.5%, this year at 0.5% I … I would have got £300 in interest last April at 5.5%, this year at 0.5% I got £25. Fail. I bought premium bonds instead and won £125 already within 2 months of buying them, obviously not guaranteed though.


so why did you leave your money in accounts paying very low rates? 3.0%+ have been available for at least the last 12 months.

ISA = tax free. If you want to use the money you lose the tax free benefit for life.
For many people, their ISA is their nest egg and they never use the money.

They die with their ISA intact. But, they lose the tax free element in the year of death.

It may be relatively risk free, but the returns are not do great in investment terms.
They serve as a secure form of investment, with poor growth.
Many shares yield more than this interest rate.

Look at blue chips such as BP within an ISA. The yield (dividends) beat the interest rates of cash ISA's on offer and the share price has done very little over the past years (some recent rises). At the current rate, isn't the yield better than a fixed rate ISA, with no minimum term (if you can invest £5100-£10,200k in one go the trading cost is more effective)?

Banned

Common Sense;8343819

ISA = tax free. If you want to use the money you lose the tax free … ISA = tax free. If you want to use the money you lose the tax free benefit for life.For many people, their ISA is their nest egg and they never use the money. They die with their ISA intact. But, they lose the tax free element in the year of death.It may be relatively risk free, but the returns are not do great in investment terms.They serve as a secure form of investment, with poor growth.Many shares yield more than this interest rate.Look at blue chips such as BP within an ISA. The yield (dividends) beat the interest rates of cash ISA's on offer and the share price has done very little over the past years (some recent rises). At the current rate, isn't the yield better than a fixed rate ISA, with no minimum term?


lol - wasnt RBS & HBOS blue chip companies a couple of years ago? your investment would now be worth about 5% of its value 2 years ago........:whistling:

csiman;8342624

so why did you leave your money in accounts paying very low rates? 3.0%+ … so why did you leave your money in accounts paying very low rates? 3.0%+ have been available for at least the last 12 months.



Because it is hard earned cash, I am paranoid about cocking up big time, getting greedy or losing some or all of it. I was reasonable happy with what I had been getting. To be honest I don't understand figures and % rates and would not have realised that things were going wrong.

Banned

diabeticguy;8343878

Because it is hard earned cash, I am paranoid about cocking up big time, … Because it is hard earned cash, I am paranoid about cocking up big time, getting greedy or losing some or all of it. I was reasonable happy with what I had been getting. To be honest I don't understand figures and % rates and would not have realised that things were going wrong.


first rule of investment is to monitor your interest rates and switch when they get low. I just set a monthly reminder to check them and switch using MSE as a guide to the top rates. :thumbsup:

csiman;8343853

lol - wasnt RBS & HBOS blue chip companies a couple of years ago? your … lol - wasnt RBS & HBOS blue chip companies a couple of years ago? your investment would now be worth about 5% of its value 2 years ago........:whistling:



Yes, but use "common sense". Select the blue chips from the BP, Shell, Glaxo,

Obviously, stick to non-financials.

Of course I am sure you realise, if you purchased RBS months ago you would have more than doubled your money, and at the low, more than quadrupled your money (400%)!

As I stated, avoid financials for minimised risk.
Have you ever heard of stop losses to minimse the downside?
You may be better off with 4% a year.
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