Bradford & Bingley to launch trio of competitive ISA products

As the countdown to the end of the tax year begins in earnest, Bradford & Bingley has announced the launch today of a trio of competitive ISA products.

The limited edition range includes eISA3, an internet-only mini cash ISA that offers savers penalty-free access to their money and pays a higher rate of interest on higher balances.

Customers with savings between £1,000 and £9,999.99 can take advantage of a great variable rate of 5.55% tax-free p.a./AER while those with a balance of more than £10,000 will receive 5.90% tax-free p.a./AER.

A monthly variable interest rate is available to savers who would like their interest to be credited on a more regular basis, paying 5.41% tax-free p.a. on balances between £1,000 and £9,999.99 and 5.75% tax-free p.a. onbalances of more than £10,000.

The account must be opened with a new deposit of at least £1,000. Transfers in from existing cash ISAs are permitted, although these cannot be used to open the account.

Customers can open eISA3 by clicking onto bradford-bingley.co.uk/savings .

Bradford & Bingley has also launched two new mini cash ISAs to meet the needs of savers who haven't yet used their £3000 tax-free savings allowance for the 2007/8 tax year. Customers can take advantage of Bradford & Bingley's one-year fixed rate ISA or one-year fixed rate eISA, both offering an attractive rate of 5.75% tax-free p.a./AER.

Both accounts have a minimum deposit requirement of £1,000 and a maximum balance of £3,000, with transfers into the account not permitted. No withdrawals are permitted until maturity.

Customers can open the one-year fixed rate ISA by calling into their local Bradford & Bingley branch or by telephoning 0845 600 8885. Customers can open the one-year fixed rate eISA by clicking onto bradford-bingley.co.uk/savings .

Paul Whitlock, head of savings at Bradford & Bingley, said: "Our new ISAs are designed to meet the different needs of different savers as the 2007/8 tax year draws to a close. Savers looking for an attractive home for their new and existing ISA balances can take advantage of our eISA3 account, which offers customers penalty-free access to their money and a higher rate of interest on higher balances. While our competitive one-year fixed rate ISA and one-year fixed rate eISA are ideal for customers who haven't yet used their £3000 tax-free savings allowance for the 2007/8 tax year."