From today (Friday 22 March), Cheshire Building Society, which is part of the Nationwide Group, is launching a new issue of ISA Saver.
ISA Saver (Issue 2) is a cash ISA paying a competitive 2.30% AER / tax-free*, which includes an introductory fixed bonus of 1.80% gross p.a.* 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' 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 customers can make unlimited penalty-free deposits and withdrawals, within the cash ISA limits.
ISA Saver (Issue 1) was withdrawn from sale at close of business on Thursday 21 March.
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.
| |
ISA Saver (Issue 2) |
| Availability |
Online or phone, managed by post.
Transfer in requests completed online |
| Withdrawals |
Unlimited, free withdrawals |
| Transfers In |
Yes - transfer in requests must be completed online |
| Min. opening balance |
£1,000 |
| Min. operating balance |
£1 |
| Maximum operating balance |
No maximum |
Interest Rates
| ISA Saver (Issue 2) |
AER tax-free |
| £1,000+ |
2.30% (variable)** |
| £1 - £999 (variable) |
0.25% |
** 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.