Tax-free saving accounts

Your current Cash ISA may have started out on a great rate but are you sure you’re still getting a good deal?

With a Cash ISA (Individual Savings Account) you can save up to £5,760 tax-efficiently each tax year. There are 2 types of ISA to think carefully about; Cash ISAs and Stocks and Shares ISAs. To find out more about Cash ISAs download our free ISA guide. See our ISAs explained section to help you understand ISAs and the different savings limits.


View our ISA range

How to apply

To make the most of your tax free savings allowance simply apply in branch or over the phone and we’ll do the rest:

ISAs Explained

An ISA is a special type of account in which every eligible adult can save and invest tax-efficiently each tax year. Currently, the limit is £11,520 (£5,760 in a Cash ISA).

You will benefit from tax-free interest if you choose a Cash ISA. Although Stocks and Shares ISAs are tax-efficient, they are not completely tax free.

The information below is based on current legislation.

  1. Investment limits

    Type of ISA
    Investment Limits (from 6 April 2013) Cash Stocks & Shares
    All ISA customers Up to £5,760 with one provider Up to £11,520 with the same or another provider
    Minimum opening Age 16 18

  2. Investment examples
      Example 1 Example 2 Example 3
    Start of tax year (from 6 April)

    You can save £5,760 in a Cash ISA

    You save £2,760 in a Cash ISA

    Set up £750 monthly Direct Debit into a Stocks and Shares ISA = £9,000 invested over the tax year

    During the same tax year

    You can invest £5,760 in a Stocks and Shares ISA

    You can save another £3,000 in the same Cash ISA plus you can invest £5,760 in a Stocks and Shares ISA with another provider.

    You can save £2,520 into a Cash ISA with another provider

    Total Invested

    £11,520

    £11,520

    £11,520

  3. Eligibility for ISA accounts
    To qualify for one of our Cash ISAs, you must be aged 16 and resident in the UK for tax purposes or be a qualifying Crown employee or married to, or in a civil partnership with, a qualified crown employee.
  4. Your right to cancel ISA accounts
    If you open an ISA and then change your mind within 14 days, you may cancel your subscription and we will give you your money back with any interest it has earned. We will not apply any notice period or charge. You can then open another ISA in the same tax year if you wish.

    Should you wish to cancel your subscription within this period, please write to the branch or agency where you opened your account or call 0845 1200 300

Types of ISA

  1. Yorkshire Building Society Cash ISAs
    Our Cash ISAs are designed for money that you may wish to access in the short or medium term to suit different needs.

    And don't forget that once you've invested up to your maximum allowance for the tax year, we have other savings options for your short and longer-term savings goals.
  2. Stocks and Shares ISAs
    These types of ISAs are best suited to money you can leave untouched for at least five years or more. Stocks and Shares ISAs are available through our association with Legal & General. To discuss your needs with a Legal & General consultant, book an appointment online now or contact your local branch.
  3. Stakeholder Standards
    These are guidelines set by the Government to make it easier for you to identify simple, low-cost savings products.

    For example, for a Cash ISA, Stakeholder Standards mean:
    • There are no account charges
    • The minimum investment is not more that £10
    • Withdrawals can be made in 7 working days or less and there is no limit on the number of withdrawals.
    • They provide a variable interest rate guaranteed to be no lower that 1% below the Bank of England base rate.
    None of the ISA's the Society provides or the ISA available through the Protected Capital Account offered in association with Credit Suisse International currently meets the Stakeholder Standards. However, a Stakeholder Standard ISA may not necessarily be more suitable than a non-stakeholder standard ISA. It simply shows that the product meets all of the Government's criteria. Please contact us if you are unsure which ISA is right for you.

Transferring ISA allowances

You can transfer some or all of your money saved in Cash ISAs in previous tax years into a Cash ISA and/or Stocks and Shares ISA without affecting your annual ISA allowance.

You can also transfer money saved in a Cash ISA for the current tax year into different ISAs with the same or a different provider, although you can only hold one of each type of ISA for each tax year.

If you choose to transfer your Cash ISA for the current tax year into a Stocks and Shares ISA, you must transfer the whole amount saved in that tax year. You can then save up to the remaining balance of your ISA allowance in the same Stocks and Shares ISA, or you could open a new Cash ISA.


Call us on 0845 1 200 100*

Got a question?

Branch Finder - find your local branch or agency

Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, loans, mortgages and more.

Get in touch with us:

Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We are entered in the Financial Services Register under registration number 106085.

Any reference on this website or in our literature to the Financial Services Authority (FSA) should be deemed to mean the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).