ISAs & PEPs news
Best-buy cash ISA
20 March, 2006
Savers wanting to put something aside for a rainy day are urged to take a look at a new tax-free account, which has shot to the top of the best-buy tables.
The Saffron Walden Herts and Essex Building Society’s new mini cash tracker ISA currently tops Moneyfact’s Mini Cash ISA best-buy table with its 5.30 per cent rate of interest.
The account can be opened with a minimum balance of £3000, the ISA offers an attractive interest rate of 5.30 per cent for the first six months, before following the Bank of England base rate for the duration of the account.
Andy Golding, sales and marketing director at the Saffron Walden Herts and Essex, said, “This Mini Cash ISA is ideal for those who already have built up a modest lump sum and who would like to see it earn greater interest.
“ISA’s are tax-free and the owner of the account can put away a maximum of £3000 every tax year. This is a simple, straightforward account which we are confident will be a big hit with savers.
The account is operated by post and access to the account can be gained at any time by giving 30 days’ notice in writing, with interest paid annually each April.
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