Principality BS unveils ISA range for new tax year

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

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