Teachers BS delivers cash ISA masterclass - Savings - News - Moneyfacts


Teachers BS delivers cash ISA masterclass

Teachers BS delivers cash ISA masterclass

Category: Savings

Updated: 24/03/2010
First Published: 24/03/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Best savings rates

Get a snapshot of the top best buy savings accounts, fixed rate bonds and cash ISAs to help you get more from your money.

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.