first direct tops up ISAs for over 50's

From 6 October 2009 eligible savers who are 50 and over in the current tax year will be able take advantage of first direct's new cash e-ISA offer to top up their ISA accounts with the extra £1,500 announced in the Chancellor's Budget this year.

The e-ISA is currently paying a fixed rate of 3.00% AER (2.96% tax-free) until 9 November 2010.

Features of the cash e-ISA are:

savers can transfer ISA balances held with other providers from previous or current tax years

instant access to funds with no penalty

Oliver Cook, Savings Manager at first direct commented: "In the current environment it's great to be able to offer a fantastic savings rate not only to the customers benefiting from the government's increased subscription limits of £1,500 but also those people who have yet to make the most of their ISA allowance for this tax year."