Teachers BS delivers cash ISA masterclass

Category: Savings
Date: 3/24/2010

Teachers BS has delivered a cash ISA masterclass with the relaunch of its Bonus ISA account.

Requiring a minimum investment of £100, this fixed term variable rate cash ISA pays 3.00% on maturity at 5 April 2011.

The rate does include a 1.25% bonus until this date, after which the account matures into an Easy Access ISA which currently pays 1.75%.

Additional investments into the account are permitted, although transfers in are not.

Withdrawals and transfers out from the account are allowed, but will incur the loss of 90 days' interest.

The rate of 3.00% ranks highly amongst the market leading variable rates around and compares favourably with fixed rate products of a similar term.

However, with the rate due to drop once the account matures, savers should look to review the competitiveness of the product at this time.

For teaching savers a thing or two about cash ISAs, this product earns four out of five Moneyfacts stars.

The account will be launched on 6 April 2010.

Find the best savings account for you - compare cash ISAs and fixed rate cash ISAs

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 Any products featured may be withdrawn by their provider or changed at anytime.