Ipswich Building Society has introduced a new ISA for existing or local savers, which has earned an 'excellent' rating thanks to its eye-catching rate and terms.
Stepping Stone ISA pays a competitive variable rate of 1.80% yearly. Savers must either already be existing customers of the society or live in the local area, and must be aged from 16 to 21.
This ISA can be opened and operated in branch and by post with a minimum investment of just £10.
Further additions and withdrawals can be made without restriction or notice. Savers are also allowed to transfer in existing cash ISAs, while transfers away can be made without penalty.
Eligible younger savers who are keen to develop their savings pots are likely to be drawn to this offer, which promises a competitive return as well as complete flexibility. It therefore fully deserves its 'excellent' rating.
Moneyfacts rating: Excellent
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