Yorkshire launches unique ISA product

Yorkshire Building Society has launched a new competitive rate ISA which allows savers to add next year's deposits to increase their tax efficiency.

Available through all Yorkshire channels, this unique 18 month fixed rate ISA offers 3.25% tax free for new and existing ISA customers. All the Yorkshire's cash ISAs permit full transfers in.

Commenting on the launch of the new product, Yorkshire's Product Manager, Lynne Pepper said; "Investing in an ISA product is an excellent way to ensure that customers get the very best return on their savings.

"One way to ensure this is maximised is by making the most of both this tax year's and next tax year's ISA allowance. This April the annual cash ISA limit increases to £5,640 and savers need to be aware of this.

"This ISA season we are taking a departure from the norm and encouraging customers to add their £5,640 throughout the tax year - rather than simply when the product is on sale.

"This means savers can pay up to their 2012/13 ISA allowance of £5,640 into the 3.25% fixed rate ISA at any time between 6th April 2012 and 5th April 2013. This is unique as savers would not usually be permitted to add to this type of fixed rate product after the product has been withdrawn.  We believe this simple, no gimmicks approach is another way of allowing our customers to maximise their returns on their ISA."