Money News
As the countdown to the end of the tax year begins in earnest, Bradford & Bingley has announced the launch of a trio of new individual savings account (ISA) products. The' limited edition range' includes eISA3, an internet-only mini cash ISA that offers savers penalty-free access to their money and pays a higher rate of interest on higher balances.
Customers with savings between £1,000 and £9,999.99 can take advantage of a variable rate of 5.55% tax-free AER while those with a balance of more than £10,000 will receive 5.90% tax-free AER.
A monthly variable interest rate is available to savers who would like their interest to be credited on a more regular basis, paying 5.41% tax-free p.a. on balances between £1,000 and £9,999.99 and 5.75% tax-free p.a. on balances of more than £10,000.
The account must be opened with a new deposit of at least £1,000. Transfers in from existing cash ISAs are permitted, although these cannot be used to open the account.
Bradford & Bingley has also launched two new mini cash ISAs to meet the needs of savers who haven't yet used their £3000 tax-free savings allowance for the 2007 / 08 tax year.
Bradford & Bingley's one-year fixed rate ISA or one-year fixed rate eISA, both offer a rate of 5.75% tax-free AER. Both accounts have a minimum deposit requirement of £1,000 and a maximum balance of £3,000, with transfers into the account not permitted. No withdrawals are permitted until maturity.
27 February 2008 © Moneyextra.com
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