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Saffron BS elected savings leader

Saffron BS elected savings leader

Category: Savings

Updated: 15/04/2010
First Published: 15/04/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Saffron BS has jumped to the top of the opinion polls with the launch of a new one year fixed rate fixed term linked cash ISA.

Requiring a minimum investment of £500, the account pays 4.80% on maturity or 5.00% for investments of more than £20K.

While further additions to the initial investment are not allowed, earlier access to funds is permitted on closure of the account only and 180 days' loss of interest.

Transfers in are accepted, while transfers out are allowed on 180 days' loss of interest.

Its appeal might be limited as a consequence of the need to invest the same amount or greater (minimum £3K) in a Six Year Credit Suisse Protected Capital Plus Account (PCPA).

The PCPA must be maintained for the term of the bond, else the bond entitlement will be lost, and will revert to an Easy Access Cash ISA instead.

Although it is essential that investors view the package as a whole, the deal earns four out of five Moneyfacts stars.

Find the best savings account for you - Compare Cash ISAs or Fixed Rate Cash ISA

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 Any products featured may be withdrawn by their provider or changed at any time.