Saffron Building Society has introduced a new 12 month fixed rate Regular Saver Cash ISA, paying four per cent gross p.a./ AER.
The account is available to new and existing members by post or through one of Saffron’s branches across the East of England until April 30.
Savers need to deposit from £10 up to a maximum of £470 to open the ISA and can save up to £470 per month.
Immediate access is permitted during the full term of the investment and is without penalty, the society said.
Withdrawn funds can be re-deposited as long as all payments made into the account do not collectively exceed £470 during that month.
John Eastgate, sales and marketing director at Saffron Building Society, said: “The Regular Saver Cash ISA is a great option for those not wishing to commit to products for long periods of time, but still wanting to earn an excellent rate of interest and have immediate access to their money.”
The tax free cash ISA allowance has risen by £300 for the new tax year, from £5,340 to £5,640.
Free ISA guide: Click here