Bank of Scotland launches new IASA Reward

Bank of Scotland has announced the launch of a new issue of its Instant Access Savings Account Reward (IASA Reward) on Monday 13th August.

The offer is available from 13th August until 11th September 2007.

The key features of the account are:

A fixed rate of up to 6.35% AER/gross p.a. for one year on balances between £100,000 and £1 million.
Other rates for lower balances starting at 6.00% AER/gross p.a. on £5,000.
Up to four withdrawals.
Unlimited deposits up to £1 million until 31st December 2007. No further deposits after that date.
Minimum balance £5,000, maximum balance £1 million.
Can be opened by phone, online or in Bank of Scotland branches.
Can be managed 24/7 by telephone, online, post or by optional cash card.
One account per customer.

After one year, or if the above requirements are not met, the account reverts to the standard Instant Access Savings Account (IASA) with variable interest rates.

Mike Regnier, head of savings at Bank of Scotland, said: "Our latest IASA Reward offers a cracking rate of interest that is guaranteed, and still gives our customers the flexibility to access their savings if they need to. Few providers offer this type of deal so we're delighted to offer a great account that meets savers' needs."