Barclays launches new range of savings accounts

Barclays is launching three new savings accounts, including a market leading cash ISA paying 6.50 per cent AER interest to allow customers to make the most of their tax-free savings allowance.

The Tax Haven ISA can be opened with a minimum £1 and a maximum of £3,000 for the 2007/2008 tax year, rising to £3,600 for the 2008/2009 tax year. The 6.50 per cent AER includes a one per cent gross bonus for 12 months and customers can open it online, in branch or over the telephone.

Lee Chiswell, Barclays Head of Savings said: “We believe this is the best rate available for any cash ISA on the market at the moment, paying a massive 1.25 per cent above the Bank of England base rate. Customers only need £1 to open this best buy ISA and do not need to take out any other products to take advantage of the fantastic rate.”

“Demand for our market leading cash ISA was phenomenal last year, so to ensure we process ISA applications as efficiently as possible this year we have increased the capacity at our processing centre and streamlined the application process.”

“We would encourage customers who have not already subscribed to an ISA in the current tax year to get their application in as soon as possible so they do not miss out on their annual ISA allowance ”

The ISA is available for new and existing customers who will be investing new money in the ISA (i.e. transfers in cannot be made from an existing ISA).

At the same time Barclays will be launching two other new savings accounts also available to new and existing customers. Active Savings will pay a rate of 4 per cent AER (including a guaranteed 0.75 per cent gross bonus for one year) and will offer instant access through any Barclays branch on savings over £1, making it one of the best rates for an instant access account on the high street.

Nest-egg Savings is ideal for those who wish to be rewarded for building their savings, offering rates of up to 5 per cent AER (including a guaranteed 0.75 per cent gross bonus for 12 months).

For further information, visit barclays.co.uk.