Abbey launches new direct cash mini ISA

Abbey today launches a new mini cash ISA account paying 5.50% tax free/AER on balances from £1. The account offers a market-leading rate of 5.75% tax free/AER for balances over £9,000. The ISA is available to both new and existing customers and offers a cash card to help people who intend to make occasional withdrawals. The account offers customers instant access to funds through post, telephone, ATM or online. The minimum opening balance is £1 and transfers can be made into the account from other ISAs.

Reza Attar-Zadeh, Head of Savings at Abbey, said: "Government figures show that only one in three savers has a cash mini ISA. Those who don’t use their ISA allowance are not making the most of their hard-earned money “This is one of the best cash mini ISA rates on the market and offers the flexibility of an account card, and instant access online, by phone, post or ATM.”

To ensure there is an ISA to suit all needs, Abbey has also launched the Super ISA, which is available from today. The Super ISA offers eight per cent AER tax free until 1 May 2008 when customers put an equal amount or more into Abbey’s tax efficient Guaranteed Growth Plan.

The guaranteed growth plan is designed for savers who wish to enjoy the benefit of potential greater returns offered by the stock market, Whilst offering guarantees on the money deposited and a minimum return if the money is left for the full term (3 or 5.5 years).