Abbey launches 8% ISA

Abbey launches 8% ISA March 8

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Abbey has announced the launch of a new super ISA - a cash mini ISA offering an interest rate of eight per cent.

Responding to customers’ desires to save more effectively, the new ISA will offer the eight per cent rate until May next year, after which it will drop back to Abbey’s direct ISA rate of 5.75 per cent.

In order to qualify for the special rate, customers will also be required to invest an equal amount of money in one of Abbey’s guaranteed growth plans.

“This product has been designed to help customers save for their future in a tax efficient manner at great rates,” said Reza Attar-Zadeh, head of savings at Abbey.

“Customers wary of the stock market should consider this product as a way to take their first step into equity investing.

“The product could also be considered for the low risk segment of more sophisticated investor portfolios.”

The bank added customers not willing to place savings in a long-term growth plan can simply take Abbey’s direct ISA.

Written Exclusively by AdFero for ISA Guides

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