Sainsbury's launches new cash ISA

Sainsbury's has announced the introduction of a new cash ISA product.

People holding Sainsbury's savings accounts might be interested to note the supermarket bank's introduction of a new cash ISA package which has a gross annual equivalent rate of 2.6 per cent.

ISAs have become popular among people eager to compare savings in the post-recession period and Sainsbury's has decided to launch a product which allows customers to save up to the maximum regulated tax-free allowance of £5,100 annually with balances starting from £500.

The account is also intended to offer consumers improved levels of flexibility in terms of their personal finances as it gives them the opportunity to manage it online or by telephone, as well as being able to transfer funds quickly and easily from other cash ISAs.

Helen Cook, head of savings at Sainsbury's Finance, commented that the ISA provides "an attractive rate as well as instant access".

In related news, Chris Linpow of NFU Mutual said recently that alternative ISAs may now be more popular among savers than the cash versions following the recession.

By Emma North
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Tuesday, 10 August 2010 00:00

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Top 5 ISAs

Provider	AER	Notice	Min Deposit	Max Deposit	Apply
View Full Table >

	Natwest 3 Year Fixed Rate ISA (New Transfer)				Apply > More Info
	4.20%	Fixed term for 3 years	£1,000	£5,340	Apply > More Info

	Halifax 4 Year Fixed Rate ISA Saver				Apply > More Info
	4.10%	Fixed term for 4 years	£500	£5,340	Apply > More Info

	Natwest 2 Year Fixed Rate ISA (New Transfer)				Apply > More Info
	3.90%	Fixed term for 2 years	£1,000	£5,340	Apply > More Info

	Natwest 3 Year Fixed Rate ISA				Apply > More Info
	3.80%	Fixed term for 3 years	£1,000	£5,340	Apply > More Info

	Halifax 3 Year Fixed Rate ISA Saver				Apply > More Info
	3.55%	Fixed term for 3 years	£500	£5,340	Apply > More Info

Hinkley and Rugby 1 Year Fixed Rate ISA

Account gives you a great rate of 3.10% AER
You can open an account with just £100.
The maximum balance is £50,000.
Early access on full closure only and subject to an Early Closure Charge equivalent to 270 days interest at 3.1% plus a £15 (ex VAT) admin charge
YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme

Halifax 3 Year Fixed Rate ISA Saver

Get 3.55% AER Fixed for 3 Years
Minimum opening balance - £500
Maximum balance - up to £5,340
No withdrawals
No additional deposits - after account opening.
Manage your savings - In branch, by phone or view your balance online 24/7
Britain's No 1 for ISAs*
Number of accounts - you can only fund one cash ISA during any one tax year. If you already have an ISA with another provider and want to take advantage of our cash ISA interest rate, ask to transfer your ISA today
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Halifax 4 Year Fixed Rate ISA Saver

Get 4.10% AER Fixed for 4 Years
Minimum opening balance - £500
Maximum balance - up to £5,430
No withdrawals
No additional deposits - after account opening.
Manage your savings - In branch, by phone or view your balance online 24/7
Britain's No 1 for ISAs*
Number of accounts - you can only fund one cash ISA during any one tax year. If you already have an ISA with another provider and want to take advantage of our cash ISA interest rate, ask to transfer your ISA today
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Halifax 2 Year Fixed Rate ISA Saver

Get 3.50% AER Fixed for 2 Years
Minimum opening balance - £500
Maximum balance - up to £5,340
No withdrawals
No additional deposits - after account opening.
Manage your savings - In branch, by phone or view your balance online 24/7
Britain's No 1 for ISAs*
Number of accounts - you can only fund one cash ISA during any one tax year. If you already have an ISA with another provider and want to take advantage of our cash ISA interest rate, ask to transfer your ISA today
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Halifax 1 Year Fixed Rate ISA Saver

Earn 2.25% AER tax free fixed for 1 year
Minimum opening balance - £500
Maximum balance - up to £5,340
No withdrawals
No additional deposits - after account opening.
Manage your savings - In branch, by phone or view your balance online 24/7
Britain's No 1 for ISAs*
Number of accounts - you can only fund one cash ISA during any one tax year. If you already have an ISA with another provider and want to take advantage of our cash ISA interest rate, ask to transfer your ISA today
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Natwest 1 Year Fixed Rate ISA

Have between £1,000 - £5,340 this tax year
Transfer in existing cash ISA balances to increase your tax free earning potential
Limited offer - May be withdrawn at any time
Early closure will result in an interest change
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Natwest 2 Year Fixed Rate ISA

Have between £1,000 - £5,340 this tax year
Transfer in existing cash ISA balances to increase your tax free earning potential
Limited offer - May be withdrawn at any time
Early closure will result in an interest change
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Natwest 2 Year Fixed Rate ISA (New Transfer)

Have between £1,000 - £5,340 this tax year
Transfer in existing cash ISA balances to increase your tax free earning potential
Rates available from 30th September 2011 and on a first come first served basis
Limited offer - May be withdrawn at any time
Early closure will result in an interest change
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Natwest 3 Year Fixed Rate ISA

Have between £1,000 - £5,340 this tax year
Transfer in existing cash ISA balances to increase your tax free earning potential
Limited offer - May be withdrawn at any time
Early closure will result in an interest change
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Natwest 3 Year Fixed Rate ISA (New Transfer)

Have between £1,000 - £5,340 this tax year
Transfer in existing cash ISA balances from other non Natwest and RBS accounts to gain the 4.20% AER rate, otherwise the rate is 3.80% AER.
Rates available from 30th September 2011 and on a first come first served basis
Limited offer - May be withdrawn at any time
Early closure will result in an interest change
YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Progressive BS 2 Year Fixed Rate ISA

Account gives you a great rate of 3.50% AER
You can open an account with just £100.
The maximum balance is £50,000.
Early access on full closure only and subject to an Early Closure Charge equivalent to 270 days interest at 3.1% plus a £15 (ex VAT) admin charge
YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme

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Sainsbury's launches new cash ISA

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