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First rate cash ISA from first direct

First rate cash ISA from first direct

Category: Savings

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 It is now over 6 months old so the content may be out of date.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

first direct has done savers a favour by increasing the rate on its Cash e-ISA.

Requiring a minimum investment of £1, the account pays 2.96% monthly until 9 November 2010, before reducing to a standard ISA rate, currently standing at 0.20%.

Now one of the leading no notice ISAs on the market, it's sure to be of interest to investors looking for an easy access home for their tax free allowances.

Transfers in are permitted from other providers, while transfers out are allowed without penalty.

One word of warning: the likelihood of a dramatic fall in the rate come November next year makes it essential investors review their position at that time.

However, right now, it is up there with the best, earning four out of five Moneyfacts stars.

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 Any products featured may be withdrawn by their provider or changed at any time.