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The Second Issue Individual Savings Account is a Cash Individual Savings Account (ISA) which provides valuable protection from income tax for your savings, helping you to make the most of your money.

This account is exclusively available for reinvestment of the proceeds of a maturing National Counties Fixed Rate Cash ISA.

 

The Cash ISA key features are:

 

  • Invest the proceeds of your National Counties Fixed Rate Cash ISA

  • Tax-free interest earned from the day we receive your investment

  • Add to your savings* by debit card, transfer from your bank, cheque, transfer from an existing account or by cash 

  • Savings up to the annual statutory limit of £20,000

  • Minimum balance of £1

  • Transfers from flexible and non-flexible Cash ISAs are accepted

  • Withdrawals available without notice and without an access charge

  • Transfer to another ISA provider allowed

* You can add to your savings by debit card using our Online Service, by transfer from your bank, by cheque or by cash at our Epsom branch. To send additional savings directly from your bank account the banking details you’ll need can be found on the back of your new account Certificate. To add to your account using your debit card you will need to register for our Online Service if you are not already a user for an existing account with us. You can register once you have received your new account Certificate. For security reasons the activation code required for your first log-in after registration is sent to you by post.

The information provided below is a summary of the key features of the account and is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Account booklet.


Summary box

Account name

Second Issue Cash ISA

What is the interest rate?

Rate effective from 11 November 2017Tax-free1 AER2
 £1+ 1.01%
Interest is calculated daily and paid annually on 1 October

Can National Counties Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated

What would the estimated balance be after 12 months based on a £1,000 deposit?

Opening balanceProjected balance (Gross)
£1,000£1,010.10
  • This projection assumes that the account is opened with the stated amount with no additions or withdrawals made. Projected balance is at the end of 12 months
  • All projections are provided for illustrative purposes only and do not take into account individual circumstances
  • Actual interest may depend on the date the account is opened and the date that interest is paid

How do I open and manage my account?

  • The Second Issue Cash ISA is exclusively available for reinvestment of the proceeds of a maturing National Counties Fixed Rate Cash ISA. The account will be opened on the day your Fixed Rate Cash ISA matures
  • Transfers from flexible and non-flexible Cash ISAs are accepted
  • Additions are allowed but not required on a regular basis
  • Additions to the account can be made by debit card, by transfer from your bank, by cheque, by transfer from an existing account or by cash 
  • An annual statutory limit of £20,000 can be deposited, plus transfers of previous tax years' subscriptions
  • A minimum of £1 must be held in the account
  • A maximum of £250,000 may be held in the account
  • Instructions for the account can be made via the Online Service, by post or at our Epsom branch

Can I withdraw money?

  • Withdrawals are available without notice or access charge and can be paid by transfer to your bank, by cheque or by cash. Please see the 'Taking money out' section of the Product Features leaflet for full information
  • Transfer to another ISA provider is allowed

Additional information

TAX STATUS: Tax-free (the future tax treatment of Individual Savings Accounts may vary)
 

This product is not a flexible ISA. Transfer in of flexible ISAs is allowed, however you will lose the flexibility of being able to replace withdrawn funds.

This issue may be withdrawn at any time without prior notice.

1 Interest is paid tax-free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.

2 AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

All financial information correct on 6 April 2018.

Operating an account on behalf of someone else

This account is available for operation by Third Parties, Attorneys and Deputies. For information on how to set up any of these on your accounts please refer to our FAQs page where all the information you should need can be found.

If you have any further account opening queries please contact our New Savings Account Enquiry Team on 03300 243413.


Can't find the account that's right for you?

We have a number of other savings accounts that are available under our Family Building Society brand.

These include fixed rate and tracker bonds, flexible ISAs, as well as the Windfall Bond and accounts specifically designed for children and those saving for their first home.

Visit the Family Building Society website for details of our full range of savings accounts.

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