Principality launches variable-rate high street ISA

The Principality Building Society has launched its Promise ISA account, which aims to offer savers who wish to access their money some of the best savings rates on the market.

Principality's new ISA offers competitive savings rates of 2.30 per cent tax-free per annum AER, which also includes a 0.80 per cent unconditional bonus for the first year.

For 12 months, consumers who take out the ISA will be able to withdraw money from their account, subject to 30 days' notice or 30 days' loss of interest.

After the first year of the account savers that make no more than two withdrawals per tax year will received a fixed, conditional bonus of 0.50 per cent, payable on the core rate of 1.50 per cent.

Kate Murray, Principality's savings manager, said: "The Promise ISA aims to offer savers a consistent, tax-free return by rewarding savers that are committed to leaving their money untouched and building a nest egg.

"Best-buy rates can be there one minute and gone the next - consistency is the key for savers to ensure a good level of return."

Research carried out by Fidelity International recently revealed that under 35s are not making the most of their tax-free ISA allowance.
 

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2011-02-15 15:38:13 © Moneyextra.com