28 June 2013
From today (28 June 2013), Cheshire Building Society, which is part of the Nationwide Group, is launching a new issue of ISA Saver.
ISA Saver (Issue 4) is a cash ISA paying 1.70% AER/tax-free variable*, which includes an introductory fixed bonus of 1.20% AER/tax-free until 31 January 2015. 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 the annual cash ISA allowance).
ISA Saver (Issue 3) was withdrawn from sale at close of business on 27 June 2013.
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.