Cash ISA Rates Reach New High (6.25%) - Savings - News - Moneyfacts

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Cash ISA Rates Reach New High (6.25%)

Cash ISA Rates Reach New High (6.25%)

Category: Savings

Updated: 31/10/2008
First Published: 25/02/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Alliance & Leicester is launching a new 'best buy' version of its popular Direct ISA account - Direct ISA Issue 4. The Direct ISA Issue 4 is a mini cash ISA and will be available from Friday 8 February at Alliance & Leicester branches or online at www.alliance-leicester.co.uk.

Direct ISA Issue 4 offers:

  • A best buy rate of 6.25% gross pa/AER, including a 1.00% bonus until 31 May 2009
  • Easy access using Telephone or Internet Banking
  • Minimum balance: £1
  • Maximum investment dependent on ISA regulations (£3,000 in the current tax year, and £3,600 per tax year from 6 April 2008). Transfers of existing ISA balances will be accepted
  • Deposits and withdrawals are made via a linked current account using Telephone or Internet

Ewan Edwards, Manager for Savings & Investments at Alliance & Leicester comments: "Our Direct ISAs have proved to be extremely popular, offering great rates and the convenience of 24 hour access. Tax-payers would need to find an account paying 7.50% - even more for higher rate tax payers - to match the rate on Direct ISA Issue 4."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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