First rate cash ISA from first direct - Savings - News - Moneyfacts


First rate cash ISA from first direct

First rate cash ISA from first direct

Category: Savings

Updated: 10/09/2009
First Published: 10/09/2009

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 It is now over 6 months old so the content may be out of date.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

first direct has done savers a favour by increasing the rate on its Cash e-ISA.

Requiring a minimum investment of £1, the account pays 2.96% monthly until 9 November 2010, before reducing to a standard ISA rate, currently standing at 0.20%.

Now one of the leading no notice ISAs on the market, it's sure to be of interest to investors looking for an easy access home for their tax free allowances.

Transfers in are permitted from other providers, while transfers out are allowed without penalty.

One word of warning: the likelihood of a dramatic fall in the rate come November next year makes it essential investors review their position at that time.

However, right now, it is up there with the best, earning four out of five Moneyfacts stars.

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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Average five-year fixed bond rate falls below 2%

Long-term fixed rate bonds used to be the top solution for savers looking to get a decent return on their savings, but unfortunately, times have changed, with our latest data revealing that the average five-year rate has fallen to a new record low.

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.

Less than half of savings accounts beat inflation

Official figures show that inflation jumped up during September, with CPI rising to 1%. Not only does this mean that consumers may begin to feel the impact on their wallets, but there are now far fewer savings accounts that will beat inflation.