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Bank Accounts Latest News Post Office launches new cash ISA option
Bank Accounts Latest News Post Office launches new cash ISA option Post Office launches new cash ISA option
The new product is joined with another savings option.
A new cash ISA has been launched by the Post Office, along with another savings account option.The fixed rate cash ISA and growth bond are among the most popular saving account choices and they will offer borrowers market-leading rates.
Director of savings Richard Norman comments: "We know that many savers are feeling hard done by due to the low base rate resulting in lower returns on their savings.
That's why we're always looking for ways to improve our savings offer."
He says the latest issues should make customers more aware of the company's ongoing commitment to offer them the best products.
Each one can be opened with a minimum deposit of £500 and the three-year cash ISA offers up to four per cent tax-free returns.
Another alternative from the Post Office might be the online saver, which has unlimited free withdrawals and allows people to set aside between £1 and £2 million.
By Ashley King
Friday, 22 July 2011 00:00
Comments (2)
The comments listed below are opinions held by the individuals posting and are not endorsed by, or representative of opinions held by which4u.co.uk. We cannot be held responsible or liable for the accuracy or content of any comments submitted. We reserve the right to publish, remove or edit comments as we see fit.
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jennifer odd 2012-05-17 17:05:43where are the contacts for this isa
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Keith [Editor] 2012-05-18 14:50:28Hi Jennifer.
Unfortunately, we're not listing the Post Office ISA at the moment.
There's the Cheshire ISA, at 3.35% as of today, and we're listing the Virgin Money Easy Access e-ISA, which, at 2.85%, is better than it sounds because the rates for this ISA don't crumble after 12 months.
We've also got a few good fixed-rate ISAs, if they appeal at all.
Thanks for reading!
Top 5 ISAs
|
Provider |
Notice |
Min Deposit |
Max Deposit |
Apply |
|
|---|---|---|---|---|---|
| View Full Table > | |||||
 |
|||||
|
3.75%
|
Fixed term for 2 Years
|
£100
|
£50,000
|
||
 |
|||||
|
3.70%
|
Fixed term for 2 years
|
£10,000
|
£150,000
|
||
|
|
|||||
|
3.40%
|
Fixed term for 2 years
|
£3,000
|
£10,000
|
||
 |
|||||
|
3.30%
|
Fixed term for 3 years
|
£1
|
£5,640
|
||
 |
|||||
|
3.20%
|
Fixed term until 31/05/2013
|
£100
|
£5,340
|
||
Progressive BS 2 Year Fixed Rate ISA
- Account gives you a great rate of 3.75% 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
Lloyds TSB 2 Year Fixed Rate Cash ISA
- Fixed interest rates. Earn 3.40% AER/Tax Free* on balances of £3,000 or more fixed for 24 months from account opening. View Fixed Rate Cash ISA interest rates.
- You have instant access to your money but a withdrawal charge will apply on any amount you take out.
- Interest rate fixed for 24 months from account opening.
- Interest calculated on a daily basis and paid on anniversary of account opening and upon account maturity.
- You can transfer your existing ISA into us, with our ISA transfer form. We may keep you informed of progress of your transfer by SMS text.
- Continued growth - at the end of the 24 month fixed rate period, your account pays interest at our standard variable Cash ISA Saver (excluding bonus rate).
- Manage your account through Internet Banking, PhoneBank® or branch.
- Save up to £5,100 each tax year. The 2011/2012 tax year commencing on 6th April 2011 will allow you to save up to £5340 in that tax year.
- YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme
Lloyds TSB 2 Year Fixed Rate Cash ISA
- Fixed interest rates. Earn 3.70% AER/Tax Free* on balances of £10,000 or more fixed for 24 months from account opening. View Fixed Rate Cash ISA interest rates.
- You have instant access to your money but a withdrawal charge will apply on any amount you take out.
- Interest rate fixed for 24 months from account opening.
- Interest calculated on a daily basis and paid on anniversary of account opening and upon account maturity.
- You can transfer your existing ISA into us, with our ISA transfer form. We may keep you informed of progress of your transfer by SMS text.
- Continued growth - at the end of the 24 month fixed rate period, your account pays interest at our standard variable Cash ISA Saver (excluding bonus rate).
- Manage your account through Internet Banking, PhoneBank® or branch.
- Save up to £5,640 each tax year. The 2011/2012 tax year commencing on 6th April 2011 will allow you to save up to £5640 in that tax year.
- YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme
Chelsea BS Fixed Rate ISA
- Guaranteed fixed rate of interest for the duration of the Fixed Rate e-ISA
- Minimum investment of £100
- ISA transfers in*** from other providers and deposits up to your 2011/2012 ISA limit, can be made whilst the product remains on sale. Transfer charges may apply, please check with your existing provider
- Interest paid annually
- Withdrawals are not permitted during the term
- Early closure or transfer out to another ISA provider is permitted subject to 90 days loss of interest on the closing balance. Early closure would mean loss of tax free status other than transfers to another ISA provider.
- YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme
Virgin 1 Year Fixed Rate e-ISA
- Great rate of 2.90% tax-free p.a./AER
- Guaranteed fixed rate of interest for the duration of the term
- Start saving from £1
- Minimum age 16
- Online application process to help make opening your Fixed Rate e-ISA easy
- Withdrawals are permitted during the term with a charge of 60 days loss of interest
- Transfers are allowed simply complete a Transfer Authority Form
- YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme
Virgin 3 Year Fixed Rate e-ISA
- Great rate of 3.30% tax-free p.a./AER
- Guaranteed fixed rate of interest for the duration of the term
- Start saving from £1
- Minimum age 16
- Online application process to help make opening your Fixed Rate e-ISA easy
- Withdrawals are permitted during the term with a charge of 120 days loss of interest
- Transfers are allowed simply complete a Transfer Authority Form
- YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme
