The Gateway Cash NISA for 2020-21 is closed to new depositors. If you already have a Gateway Cash ISA you are welcome to continue to pay into it, but there is a limit of £3000 on deposits in the year.
The interest rate for our NISA is 1.05% AER* (April 6th 2020-April 5th 2021).
The Gateway Cash NISA is ideal if you have longer term savings and want a guaranteed, tax free interest rate instead of a dividend, and to invest your money in your local community.
Because we want you to save with us for the long term, we aim to pay a competitive rate, year on year, rather than a short term bonus rate that drops to almost zero after the current year. This means that unless you tell us otherwise your Cash ISA balance will be automatically rolled over into the next tax year and will attract the interest rate set for that year. There will only ever be one interest rate for Gateway ISA savers, a competitive one!
The interest rate will be set annually and you will be notified of the new rate at least 45 days before the start of the new tax year on April 6th. Our ISA may be closed to new accounts at any time without notice.
You must be a Gateway Credit Union member and aged over 18 to open a Gateway Cash NISA account.
The limits on how much you can save each year are set annually, up to the maximum savings we can accept from any one member, currently £30,000. You can open the account with at least £250, and pay in by any of the payment methods we offer.
There is a penalty if you withdraw during the same year that drops the rate to 0.25% AER.
Unfortunately, deposits in your NISA account are excluded from our free benevolent fund cover.