Saffron Building Society has presented a new regular saver ISA, offered exclusively to existing members, which has scored an 'excellent' rating for its highly attractive rate and terms.
Members Regular Saver Cash NISA pays a highly competitive fixed rate of 3.50% for one year.
This account can be opened online and in branch with a minimum deposit of just £10. It can then be managed in branch or by post. This ISA is only available to existing customers of 12 months or more who have a mortgage or savings account of at least £100 with the building society.
A minimum monthly deposit of £10 must be deposited each month, up to a maximum monthly deposit of £1,270. Multiple payments can be made as long as the monthly maximum investment is not exceeded. Savers should note that a missed payment cannot be made up in later months, and that transfers in are not accepted.
Unlimited, instant withdrawals can be made penalty-free, granting savers considerable flexibility.
For eligible savers, this new account is likely to prove to be an attractive offer. Not only does it boast an impressive interest rate, but the flexibility of unlimited, penalty-free withdrawals and multiple monthly payments adds a great deal of appeal. However, savers must ensure that they meet the minimum monthly payments, as they cannot be made up at a later date.
Moneyfacts rating: Excellent
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