Scarborough promotes tax-free savings with ISA’s paying 6.30%

With just three months of the tax year to go, Scarborough Building Society is appealing to tax-conscious savers by launching an outstanding set of new ISA accounts.

The Society’s new Branch Notice ISA and Direct Notice ISA accounts offer 6.30%, AER variable, until 31 March, 2009.

And, with speculation about further falls in interest rates over the coming months, these limited issue accounts offer the added guarantee that they will pay at least 0.25% above Bank of England Base Rate, whatever happens.

Withdrawals, transfers out and closures are permitted during the term of the accounts, subject to 30 days’ notice.

Then, from 1 April, 2009 until 31 March, 2010, they will track BOE Base Rate, currently 5.50%.

The accounts are subject to a minimum opening and operating balance of £1,000.

Dave Wormall, Head of Group Marketing, said: ‘As we are now three-quarters of the way through the current tax year, we felt this was a good time to remind people of the importance of maximising their tax free savings allowances.

‘That’s why, in line with our mutual commitment to offering long term good value, we’ve launched these market-leading new accounts which combine the benefits of a great return and a guarantee that it will continue to pay 0.25% above the Bank of England Base Rate, whatever happens.’

The new products complement Scarborough’s existing, competitive ISA accounts – the Mini Cash ISA easy access account, paying 4.75% and the My Savings regular savings ISA, offering interest at 6.50%, which is regularly recognised in the consumer best buy tables.

Branch Notice ISA accounts can be opened at any of the Society’s nine branches, and further details of their locations are accessible via the Scarborough Building Society website at scarboroughbs.co.uk.