Market-leading Cash ISA from the Cheshire

The Cheshire Building Society is increasing the rate on its Direct Cash ISA - Issue 1 to a market-leading 3.50% AER tax-free (variable) on balances of £1,000 or more. While this rate is available to new customers, any existing Direct Cash ISA customers will also see their rate increase as of today.

The rate includes an introductory fixed bonus of 2.50% AER tax-free until 30 September 2013.

Direct Cash ISA is open to new ISA subscriptions only and can be opened either online or by phone. Savers are able to make as many deposits and withdrawals as they like by post without loss of interest.

Cheshire Building Society will write to customers around a month before bonus expiry to notify them that their bonus is coming to an end.

Darren Bailey, Head of Savings Pricing at the Cheshire Building Society, said: "With the end of the tax-year fast looming, there isn't much time left to invest that £5,340 tax-free. The increase in the Direct Cash ISA moves it to the top of the best buy tables and provides those savers who have yet to use this year's tax-free cash ISA allowance the perfect opportunity to do so."