Principality Building Society unveils ISAs

Wednesday, 01 July 2009 12:00

A new collection of fixed-rate ISAs, with rates of up to 4.20 per cent, has been introduced today by Principality Building Society.

The one, two and three-year tax-free savings plans, which require a deposit of £3,600 to open, all provide fixed rates for savers.

James Wright, marketing director at Principality, said: "ISAs have always been a must-have for ever saver, but in the current environment they make more sense than ever before."

The building society's one year-fixed rate ISA pays 3.20 per cent interest and there is a two-year version which has a rate of 3.50 per cent.

Savers willing to lock their cash in for longer are being offered a rate of 4.20 per cent on the three-year direct fixed-rate ISA which allows customer to transfer funds in from previous ISAs.

There is also a two-year fixed-rate ISA, which also allows transfers and has a rate of 3.25 per cent.

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