Cash ISAs

ISAs benefit from an annual tax-free allowance, which is set by the government and resets every tax year on 6 April. The allowance for the current tax year is £20,000. This means you can save up to this amount without paying tax on the interest earned.

For more information about the ISA allowance, take a look at our ISA guide.

When transferring a Cash ISA, you must request an official ‘ISA transfer’ to avoid losing the tax-free status of your savings. It may be possible to transfer used ISA allowances into a Marsden Building Society ISA, depending on the terms and conditions of the account.

If you’d like to transfer your ISA funds to us, you can download an ISA Transfer form here or contact your local branch to speak to our team.

Whether or not you can withdraw from a Cash ISA depends on the type of ISA you have:

• For a Branch Cash ISA, you can withdraw your funds whenever you need. However, notice accounts will require a set notice period before making a withdrawal, as per the terms of the account.  
• If you have a Flexible Cash ISA, your remaining tax-free allowance will not be reduced with each withdrawal.
• With a Fixed Rate Cash ISA, partial withdrawals are not allowed during the fixed term. If you close the account before maturity, there will be an interest penalty.

Once the account has been opened, you can manage it in branch, or register for eSavings to view the account online.

Additionally, our online savings accounts can be opened and managed online, subject to availability.