05 April 2013
From tomorrow (5 April 2013), Cheshire Building Society, which is part of the Nationwide Group, is launching a new issue of ISA Saver for the 2013/14 tax-year.
ISA Saver (Issue 3) is a cash ISA paying a competitive 2.30% AER/tax-free variable*, which includes an introductory fixed bonus of 1.80% AER/tax-free. until 31 October 2014. The rate applies to balances of £1,000 or more.
The new account accepts transfers in, allowing savers to deposit both new and previous years’ cash ISA subscriptions. Savers can open ISA Saver either online or by phone, but transfers in requests must be completed online. The account is managed by post and allows unlimited withdrawals and deposits (subject to ISA allowance).
ISA Saver (Issue 2) has been withdrawn from sale at close of business from 3 April 2013.
Richard Marriott, Nationwide head of savings, said: “Nobody likes paying more tax than they need too, but if you put your money in a standard savings account rather than a cash ISA, that’s exactly what you are doing. The Cheshire ISA Saver offers one of the highest rates on the market and is definitely one to consider if you are looking to utilise your 2013/14 cash ISA allowance.
“And remember that if you’re a saver looking to transfer your existing cash ISA money to the Cheshire, we have committed to paying interest on receipt of your cash ISA transfer application** as part of our seven Savings Promises.”
Notes to editors:
- * AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
- ** Provided that the funds are free to move and not subject to any notice period.
Savings Promise 4
When you transfer a Cash ISA to us, you will start earning interest as soon as we receive your application**.
||ISA Saver (Issue 3)
||Online or phone, managed by post.
Transfer in requests completed online
||Unlimited, free withdrawals
||Yes – transfer in requests must be completed online
|Min. opening balance
|Min. operating balance
|Maximum operating balance
ISA Saver (Issue 3)
|£1 - £999 (variable)
** Includes 1.80% bonus fixed until 31 October 2014.
Apply online at thecheshire.co.uk or by phone on 0808 144 3880.
The Cheshire Building Society is a Trading Division of Nationwide Building Society.