The Cambridge launches ‘no strings' e-ISA

The Cambridge Building Society has launched its first e-ISA. The product offers an excellent interest rate and is completely free from restrictions and any initial bonus.

The new competitive variable rate cash ISA gives customers 2.55% p.a. /AER on both their £5,640 2012/13 ISA allowance and any ISA transfers. It has a minimum opening and operating balance of £1, delivers no penalties for withdrawing funds and allows transfers from new and existing customers and money.

Andy Lucas, Commercial Director at The Cambridge says: "This is our first e-ISA product and after seeing a trend of high rate, bonus-led products come into the market which are often based on restrictions for customers, we wanted to offer people nationwide a simple, no strings attached, online savings product.

"The new e-ISA from The Cambridge will give those customers who do not want to spend hours looking through comparison tables, trying to interpret all of the various product specifications, a simple and straight forward solution."

In 2011, The Cambridge launched a range of online products supported by a friendly and professional Cambridge based customer contact centre in response to a brand re-launch which highlighted that customers outside of its heartland wanted to do business with the Society.

These developments have played a key role in attracting hundreds of new customers to the Society every month over the last year.

The e-ISA joins the newly re-launched e-Saver which no longer has an introductory bonus rate and offers savers 2.55% interest. This revised issue of the popular e-Saver was launched on the 1st June 2012 and received a 4* Moneyfacts rating.

For more information, visit cambridgebs.co.uk.