Barclays launches 'best' mini cash ISA paying 6.5%
Tuesday, 13 Mar 2007 14:27
From Friday March 16th Barclays is introducing a mini-cash ISA paying 6.50 per cent AER interest.
"This is the best no catches cash ISA rate to hit the high street this year. Interest rates have been going up in recent months but until recently the best AER you could get on a cash ISA was below 6 per cent," said Andrew Jones, Barclays product director.
"We believe that this ISA at 6.5 per cent offers the best ISA rate to the greatest number of people on the market – it’s available from £1, where many ISAs at this rate require upwards of £500; it’s not linked to the opening of another account like some of the recent “so-called” best rate ISAs and you’re not tied to direct only servicing as it is available through all our branches as well."
Features for Barclays Tax Beater Cash ISA:
Interest rate of 6.50 per cent AER/6.31% tax free (variable)
Rate includes an introductory bonus of 1 per cent payable for the first 12 months.
Minimum balance £1, maximum deposit £3,000 per tax year
Instant access
Transfers from existing cash ISAs not allowed.
The account can be opened in branch or applications can be obtained online or by phoning.