Alliance & Leicester cash ISA at 6.25%
Friday, 08 Feb 2008 11:20
Alliance & Leicester is launching the Direct ISA Issue 4 mini cash ISA offering a rate of 6.25 per cent gross pa/AER, including a one per cent bonus until May 31st 2009.
The minimum balance is £1 and the ISA can be opened at Alliance & Leicester branches or online.
The maximum investment – in line with ISA rules – is £3,000 up to April and £3,600 in the next tax year.
Transfers of existing ISA balances will also be accepted.
Ewan Edwards, manager for Savings & Investments at Alliance & Leicester, said: "Our Direct ISAs have proved to be extremely popular, offering great rates and the convenience of 24-hour access.
"Tax-payers would need to find an account paying 7.50 per cent - even more for higher-rate tax payers - to match the rate on Direct ISA Issue 4."