West Brom BS reveals new and improved ISA - Savings - News - Moneyfacts


West Brom BS reveals new and improved ISA

West Brom BS reveals new and improved ISA

Category: Savings

Updated: 15/06/2011
First Published: 15/06/2011

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 It is now over 6 months old so the content may be out of date.

West Brom BS has launched a new issue of its WeBSave ISA with an improved rate.

Now paying 2.91% (2.92% AER), the deal sits amongst the leading variable rate ISAs available today.

The rate includes a bonus of 1.16% until 31 July 2012, so a review of the account's competitiveness will be required as the bonus expiry date nears.

Withdrawals from the account are restricted to three per annum, with the fourth attracting a 60 day loss of interest.

A minimum investment of £1K is required, but transfers out are permitted without penalty.

At the same time, West Brom has introduced two new internet operated regular savings accounts.

Direct Fixed Rate Regular Saver (Adult) pays 4.10%, while the version aimed at children pays 4.60%.

The minimum investment is £10 per month, while the rate on both accounts reduces to 0.5% if more than two monthly payments are missed.

No withdrawals are allowed during the one year term, but both rates are amongst the market leaders in their fields.

Four out of five Moneyfacts stars are richly deserved.

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