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Market Leading Fixed Rate ISAs Hit 6.25%

Market Leading Fixed Rate ISAs Hit 6.25%

Category: Savings

Updated: 31/10/2008
First Published: 28/03/2008

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 It is now over 6 months old so the content may be out of date.

To mark the start of the new tax year, Bradford & Bingley is to launch a one-year fixed rate ISA and one-year fixed rate eISA, both at a market-leading rate of 6.25% tax-free p.a./AER.

The attractive rates are to launch on Sunday 6 April 2008. For those who want to complete and submit their applications early, however, applications will be available in branches from Wednesday the 26th March.

Key features of the ISAs include:

Tax-free interest rate of 6.25% p.a./AER fixed for one-year:

  • Minimum and maximum opening investment - £3,600
  • Interest can be credited or paid out. Annual interest is paid annually on the anniversary of the date the account was opened
  • No additions are permitted
  • No withdrawals are permitted until the account matures
  • No transfers can be made from existing ISAs at Bradford & Bingley or from any other ISA.
Paul Whitlock, head of savings at Bradford & Bingley, said: "Our new ISAs are ideal for savers who want to shore up their cash ISA allowance for the 2008/9 tax year in an account with a market-leading rate. In times of economic uncertainty, with potential base rate falls on the horizon, locking into a best buy rate which is fixed for one year gives investors crucial peace of mind. Customers also have the added convenience of choosing how to apply, whether by post, through a branch or online."

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 Any products featured may be withdrawn by their provider or changed at any time.