Scarborough takes ISA season by storm with account paying 6.10%

Scarborough Building Society is rewarding savers this Spring by launching an ISA account offering a market-leading 6.10%.

Guaranteed ISA Plus Issue 2 is designed to encourage savers to make the most of their tax-free allowances.

Available from 5 March, this limited issue account is on offer to both new ISA savers and those wishing to transfer existing ISA or TOISA funds. Savers can take full advantage of the tax year-end by investing £3,000 by 5 April (assuming they haven’t yet utilised their 2006/7 ISA allowance) and then a further £3,000 by 6 April.

Guaranteed ISA Plus 2 is available for deposits of £1,000-plus. It complements the Society’s existing range of highly competitive ISA accounts. These include its ever-popular My Savings regular savings ISA, which can be opened with as little as £10 and currently pays 6.30% on monthly investments of up to £250.

Head of Group Marketing Tony Burdin said: ‘We are delighted to announce our outstanding new Guaranteed ISA Plus 2 account, which offers a number of great features including a guaranteed interest rate and access to funds.

‘As a mutual building society, we believe we have a responsibility to encourage people to save, and rewarding them for making the most of the tax free benefits ISAs offer is a key aspect of that.

‘We expect this latest product to be hugely popular, as the first issue was last year. And for people who perhaps don’t have the necessary lump sum to invest, we still offer a low deposit alternative through our My Savings ISA, which offers similarly impressive returns.

‘This is all part of Scarborough’s promise to offer straightforward, long term good value, backed by excellent customer service.’