31 March 2011
Saffron Building Society expands Cash ISA savings range with launch of 4.50% four year fixed rate ISA
Saffron Building Society - the regional mutual serving East Anglia - has today announced the launch of a new 4.50% Four Year Fixed Rate ISA which is available through branch or post.
The minimum opening balance for the new ISA is £500. It can be opened with this year's Cash ISA allowance and will also accept transfers in of previous years' subscriptions. The term of the investment runs until 30 April 2015.
In addition, Saffron is now also accepting transfers in for its 3.00% One Year Fixed Rate ISA. The 3.00% fixed rate ISA also has a minimum opening balance of £500 and is available through branch or post.
Saffron's reviewed ISA range combines competitive interest rates with flexibility, enabling savers to get the most from their tax-free savings allowance.
John Eastgate, Sales and Marketing Director, Saffron Building Society, said: "We are pleased to be able to offer a new 4 year fixed rate Cash ISA paying a competitive 4.50% gross p.a./AER. We recognise that some of our customers would be happy to make a medium term ISA investment, and feel that, after two years of low rates, 4.50% will deliver an attractive return on tax-free savings.
We also realise that others are not willing or able to lock away their ISA for a longer period, which is why we have opened our competitive 3.00% One Year ISA to transfers in. We feel that it's hugely important that our members are encouraged to build up their tax free savings, and hope that these new ISAs will make investing in an ISA seem even more worthwhile."
Saffron Cash ISAs
- Four Year Fixed Rate ISA at 4.5% with a minimum opening balance of £ 500 (accepts transfers in) Available from 31 March 2011.
- Two Year Fixed Rate Members' Cash ISA at 3.30% AER with a minimum opening balance of £500 (available exclusively to existing Saffron Building Society members).
- One Year Fixed Term, Fixed Rate Cash ISA at 3.00% with a minimum investment of £500 (transfers in now permitted) Available from 31 March 2011.
- Reward Cash ISA with a minimum investment of £1 at 0.50% AER and a second tier investment of £20,000 or over at 0.75% AER, with a 1% interest rate reward on both tiers for every three month period that you leave your money untouched.
- One Year Fixed Term, Fixed Rate Credit Suisse Linked Cash ISA at 4.00% AER annual income.
