Santander and A&L Cash ISA paying 3.20%

Santander has announced that after five weeks of record sales and with two working days to go to the end of the tax year, its Flexible ISA product will now only be available to those that have secured a Branch appointment in this tax year. This is so as to ensure that all existing applications and appointments are processed in the current tax year.

Almost every branch appointment across Santander and Alliance & Leicester's 1,300-strong branch network is now fully booked for the remainder of this tax-year. All applications currently being processed and those submitted in booked appointments will be honoured.  However, the product is no longer available to new applications outside of such a branch appointment.

From 6 April, Santander will launch a new market-leading deal, Flexible ISA 2, with a rate of 3.20 per cent.

Reza Attar-Zadeh, Director of Savings and Investments said: "There has been phenomenal demand for our market leading Flexible ISA and we hope that the account has encouraged more tax paying savers to save tax efficiently. We're pleased to continue offering a highly competitive rate for the new tax year, which currently remains market leading for savers looking for a flexible, easy access cash ISA."

On Tuesday 6 April, Flexible ISA 2 will be launched paying a market leading 3.20 per cent. The account will guarantee to pay at least 2.70 per cent above the Bank of England base rate for the first 12 months; and the rate will not fall below the minimum rate of 3.20 per cent for the first 12 month period. The account will continue to allow penalty free instant access on withdrawals, so savers have the peace of mind of a minimum guaranteed rate but with the flexibility of instant access. Available to new and existing customers for new ISA subscriptions only, the account is available on a minimum balance of just £1. 

For any ISA saver looking to secure a good return on their existing ISA money, the Direct ISA offers a preferential rate of 2.75 per cent variable for the first 12 months on balance of £9,000 plus or a 2.00 per cent variable on balances of £1, after which a variable, tiered rate will apply depending on the balance of the account.  What's more, customers can access their money at any time without notice or penalty.