Introducing our Tax-free savings accounts
You can invest in four separate ISAs each year: a cash ISA (from age 16), a Stocks & Shares ISA* (from aged 18), an Innovative Finance ISA** (from aged 18) and a Lifetime ISA (from aged 18). A Lifetime ISA can only be opened between the ages of 18 and 40 and once opened you can invest into the account up to age 50.
You can invest in any combination of the four types of ISA in one tax year up to your total annual combined ISA allowance limit which is £20,000 for the 2017/18 tax year, however the annual contribution limit into a Lifetime ISA is £4,000.
By choosing a Cash ISA you will benefit from tax-free interest. Although Stocks & Shares ISAs are tax efficient they are not completely tax-free. These ISAs are best suited for money that you can leave untouched for at least 5 years or more. Innovative Finance ISAs allow interest and gains from peer to peer loans to qualify for tax advantages and Lifetime ISAs can be used to save for a deposit for your first home or your retirement (where you could be eligible to receive a bonus based on your savings).
Norwich & Peterborough Building Society only offer Cash ISAs.
Give us a call if you’d like to know more.
Click the account names below for details of our accounts.
*Please remember that stocks and shares and any income derived from them can rise and fall in value. You may not get back the full amount of your investment. If in doubt please consult an Independent Financial Adviser.
**Please note: Your capital and interest may be at risk in an Innovative Finance ISA and your investment is not covered under the Financial Services Compensation Scheme. If you’re not sure if this type of ISA is right for you, it’s best to speak to an Independent Financial Adviser.