Bank of Scotland launches ISA Promise

Bank of Scotland launches ISA Promise
Date of Publication: Thursday, 06 January 2011 00:00

One lender has published new guidelines for its cash ISAs.

Consumers looking to compare savings on cash ISAs in the near future might be pleased to hear that one lender has announced the introduction of a new set of rules intended to give its customers a fairer deal.

Under the terms of the guidelines issued by the Bank of Scotland, anyone with such an ISA product can now switch their account to the financier and benefit from interest being paid on it from the first day they have completed the transfer application.

The bank has called the terms its ISA Promise and the pledge also includes a commitment to improve levels of communication with customers during the switching process.

Flavia Palacios Umana, head of the lender's savings products, commented: "Cash ISAs are one of the best ways to build up a savings nest-egg … It is important to have savings you can fall back on in times of need."

Meanwhile, Santander announced yesterday (January 5th 2011) that it has launched a new range of savings products.

By Kate Guthrie
 ADNFCR-2079-ID-800326549-ADNFCR
Thursday, 06 January 2011 00:00
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Top 5 ISAs

Provider
AER
Notice
Min Deposit
Max Deposit
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2.25%
Fixed term for 3 years
£1,000
£1,000,000
2.00%
Fixed term for 2 years
£1,000
£1,000,000
1.65%
Fixed term for 1 year
£1,000
£1,000,000

Aldermore 1 Year Fixed Rate ISA

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  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Aldermore 2 Year Fixed Rate ISA

Aldermore
  • Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers
  • Fast and easy setup - open an account, complete identity checks and move your money in minutes
  • Accessible - open an account with just £1,000
  • Flexible - add to your savings whenever you like
  • Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest
  • Easy to manage - do it online, by phone or by post
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Aldermore 3 Year Fixed Rate ISA

Aldermore
  • Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers
  • Fast and easy setup - open an account, complete identity checks and move your money in minutes
  • Accessible - open an account with just £1,000
  • Flexible - add to your savings whenever you like
  • Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest
  • Easy to manage - do it online, by phone or by post
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme