New ISA from Scarborough Building Society March 9
A new ISA has been launched by the Scarborough Building Society (SBS) that promises an interest rate of 6.1 per cent AER until March 31st 2008.
The guaranteed ISA plus issue 2 is a cash mini ISA - which means the maximum an account holder can invest in a tax year is £3,000.
It is available to all new ISA savers, while it is also possible to transfer funds from an existing ISA or Toisa into the account.
However, in order to access the account a minimum investment of £1,000 is required.
Tony Burdin, head of marketing at SBS, said he was pleased the new ISA offered a “guaranteed interest rate and access to funds”.
“As a mutual building society, we believe we have a responsibility to encourage people to save, and rewarding them for making the most of the tax free benefits ISA’s offer is a key aspect of that,” he added.
Interest on investments over £1,000 will be 5.5 per cent AER from April 1st 2008 to March 31st 2009.
The deadline for investing in ISA’s for the current tax year is April 5th.
Written Exclusively by AdFero for ISA Guides
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