Bradford & Bingley to launch fixed rate ISAs at 6.25%

To mark the start of the new tax year, Bradford & Bingley is to launch a one-year fixed rate ISA and one-year fixed rate eISA, both at a market-leading rate of 6.25% tax-free p.a./AER.

The attractive rates are to launch on Sunday 6 April 2008. For those who want to complete and submit their applications early, however, applications will be available in branches from Wednesday the 26th March.

Savers with a lump sum of £3,600 can take advantage of these best buy rates either by calling into their local branch, posting their signed application form or by clicking onto bradford-bingley.co.uk\savings.

Key features of the ISAs include:

Tax-free interest rate of 6.25% p.a./AER fixed for one-year
Minimum and maximum opening investment - £3,600
Interest can be credited or paid out. Annual interest is paid annually on the anniversary of the date the account was opened
No additions are permitted
No withdrawals are permitted until the account matures
No transfers can be made from existing ISAs at Bradford & Bingley or from any other ISA.

Paul Whitlock, head of savings at Bradford & Bingley, said: "Our new ISAs are ideal for savers who want to shore up their cash ISA allowance for the 2008/9 tax year in an account with a market-leading rate. In times of economic uncertainty, with potential base rate falls on the horizon, locking into a best buy rate which is fixed for one year gives investors crucial peace of mind. Customers also have the added convenience of choosing how to apply, whether by post, through a branch or online."