Make the most of your 2012/13 ISA allowance
Santander is urging savers to make the most of their 2012/13 ISA allowance by saving in to an ISA now, rather than waiting until the end of the tax year. Due to the popularity of its cash ISAs, Santander is extending its cash ISA range into May whilst continuing to offer the same great rates. This extension is designed to ensure that savers don't miss out on maximising their returns for the new tax year. All the cash ISAs in the range allow existing ISA money to be transferred in and are available to new and existing customers.
Recent research conducted by Santander Savings found that only 17 per cent of savers were expected to take full advantage of their 2011/12 tax-free cash ISA allowance, missing out on an estimated £242 million¹ worth of tax-free interest. Santander Savings is urging people to take advantage of tax-free interest where possible and make the most of the 2012/13 allowance. The cash ISA allowance has increased to £5,640.
Santander's cash ISA products have received the coveted 5 Star award from Moneyfacts, the independent product comparison company. The 2 Year Fixed Rate Major ISA, the 1 Year Fixed Rate ISA, Direct ISA Issue 9 and Super Direct ISA Issue 5 have all been extended to May with the same rates as they currently offer. However, they are limited offers and savers are urged to act now to avoid disappointment.
Matt Hall, Head of Savings said: "Investing at the beginning rather than the end of a new tax year is always going to be better for maximising returns. To encourage savers to do this we're extending our very popular cash ISA range into May, offering the same great rates.
"This includes the 2 Year Fixed Rate Major ISA, which offers a fantastic 4% AER and also pays an additional one-off bonus of 0.10% if Rory McIlroy wins an eligible golf ‘Major' tournament, with the next tournament coming up in June 2012."
The 2 Year Fixed Rate Major ISA is the latest in a series of great initiatives designed to reward customers, including the Upfront Interest Bond, 123 Cashback Credit Card and Santander's new, unique ‘123 Current Account' which pays cashback on all utilities, council tax and communications direct debits set up on a customer's account, as well as paying in-credit interest on balances up to £20,000.
Customers can enquire about any of Santander's latest cash ISAs and apply for one via the Santander website - santander.co.uk.