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Market Leading Fixed Rate ISAs Hit 6.25%

Article Published: 25/3/2008

To mark the start of the new tax year, Bradford & Bingley is to launch a one-year fixed rate ISA and one-year fixed rate eISA, both at a market-leading rate of 6.25% tax-free p.a./AER.

The attractive rates are to launch on Sunday 6 April 2008.  For those who want to complete and submit their applications early, however, applications will be available in branches from Wednesday the 26th March.

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Key features of the ISAs include:

Tax-free interest rate of 6.25% p.a./AER fixed for one-year:

  • Minimum and maximum opening investment - £3,600
  • Interest can be credited or paid out.  Annual interest is paid annually on the anniversary of the date the account was opened
  • No additions are permitted
  • No withdrawals are permitted until the account matures
  • No transfers can be made from existing ISAs at Bradford & Bingley or from any other ISA.
Paul Whitlock, head of savings at Bradford & Bingley, said: "Our new ISAs are ideal for savers who want to shore up their cash ISA allowance for the 2008/9 tax year in an account with a market-leading rate.  In times of economic uncertainty, with potential base rate falls on the horizon, locking into a best buy rate which is fixed for one year gives investors crucial peace of mind.  Customers also have the added convenience of choosing how to apply, whether by post, through a branch or online."

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