Make the most out of your ISA savings with Dudley Building Society

Individual Savings Accounts (ISAs) are a popular and tax efficient way of saving and growing your money. The main benefit of any ISA is that any interest or dividends are tax free, making it a great choice for long term savings.

Dudley Building Society provides you with different types of Cash ISAs which come with an annual ISA allowance set by HMRC.

 

What is an ISA?

An ISA is a savings account that allows UK residents to save money while benefiting from tax-free growth. Unlike regular savings accounts, ISAs provide a way to earn interest, without paying any tax, making them an attractive option for both short-term and long-term savings goals.

 

Each tax year, you are given an ISA allowance — the maximum amount of money you can contribute to your ISAs. Currently,  the limit is £20,000, which can be spread across different types of ISAs but has to be used within the  tax year, as any unused allowance doesn’t roll over to the next year. If you are curious and looking into opening an ISA account, Dudley Building Society is the right place to secure your financial future. Find out more about our ISA options here. 

 

Cash ISAs: How Do They Work?

Cash ISAs are a popular way to save money while earning tax-free interest on your savings. 

In a fixed-rate cash ISA, your money is locked in for a set period, and the interest rate remains constant throughout that time. These accounts usually offer higher interest rates in exchange for limited access to your funds during the term. Whereas, variable-rate cash ISAs offer more flexibility, as the interest rate can change depending on market conditions, allowing you to withdraw or add money more easily. Dudley Building Society offers both types of accounts, so if you are looking to open the best ISA account for you to make the most out of your tax free returns, visit our Product Finder to find the right one for you here and our team will be more than happy to help you get set up!

 

We’re here to help you get the most out of your savings. Visit your local branch or contact us today to learn more about how you can grow your savings with an ISA. Let's make your money go further, tax-free! If you’d wish to discuss your savings aspirations further, you can get in touch with one of our friendly Customer Service Advisors on 01384 231414, email us at [email protected].