Alliance & Leicester launches new easy ISA account

Alliance & Leicester has launched a new competitive tax-free savings account. The Easy ISA is a cash ISA and is available immediately, at all Alliance & Leicester branches or online at alliance-leicester.co.uk.

The new Easy ISA offers:

A competitive tax-free interest rate of 6.00% gross pa / AER.
Easy access using Telephone or Internet Banking.
Minimum balance: £1.
Maximum subscription in a tax year: £3,600.
Transfer in ISA funds from other ISA providers. Easy ISA will not accept transfer of ISA funds from another Alliance & Leicester ISA.
Available to both new and existing Alliance & Leicester customers.

Deposits/withdrawals are made from/to a linked UK current account via Telephone and Internet.
Hetal Parmar, Manager for Savings at Alliance & Leicester said: "A Cash ISA is just a simple savings account, except that the interest is paid without tax being taken off. Our ISAs have proved to be extremely popular, offering great rates and the convenience of 24 hour access. Basic rate tax-payers would need to find an account paying 7.50% - higher rate tax payers would need even more to match the rate on Easy ISA."

For further information, customers should go online at alliance-leicester.co.uk.