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Cash ISA Rates Reach New High (6.25%)
Article Published: 8/2/2008
Alliance & Leicester is launching a new 'best buy' version of its popular Direct ISA account - Direct ISA Issue 4. The Direct ISA Issue 4 is a mini cash ISA and will be available from Friday 8 February at Alliance & Leicester branches or online at www.alliance-leicester.co.uk.
Direct ISA Issue 4 offers:
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- A best buy rate of 6.25% gross pa/AER, including a 1.00% bonus until 31 May 2009
- Easy access using Telephone or Internet Banking
- Minimum balance: £1
- Maximum investment dependent on ISA regulations (£3,000 in the current tax year, and £3,600 per tax year from 6 April 2008). Transfers of existing ISA balances will be accepted
- Deposits and withdrawals are made via a linked current account using Telephone or Internet
Ewan Edwards, Manager for Savings & Investments at Alliance & Leicester comments: "Our Direct ISAs have proved to be extremely popular, offering great rates and the convenience of 24 hour access. Tax-payers would need to find an account paying 7.50% - even more for higher rate tax payers - to match the rate on Direct ISA Issue 4."
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