The Principality Building Society has launched a Regular Saver ISA and added a five year fixed rate cash ISA to its savings offering for the new tax year.
Regular Saver ISA Issue 3 pays a fixed rate of four per cent tax-free p.a./ AER for one year.
A minimum deposit of £20 is required to open the account, along with monthly deposits of £20 thereafter, but savers can open the ISA with up to £470 maximum and make monthly deposits of up to £470.
Withdrawals are not permitted, the society said.
Meanwhile, the new five year fixed rate cash ISA pays 3.75 per cent tax-free p.a./ AER.
The minimum amount needed to open the account is £500 up to this year’s limit of £5,640, and transfers in from previous years’ ISA subscriptions are allowed.
There is also a one year fixed rate cash ISA paying three per cent and an 18 month cash ISA offering a return of 3.25 per cent tax-free p.a./ 3.22 per cent AER.
For savers who prefer a variable rate, the Promise ISA pays up to 2.6 per cent, which includes a 0.8 per cent bonus for the first year.
Free ISA guide: Click here
Sign up to the Myfinances.co.uk newsletter to receive the latest financial news direct to your inbox.