Barnsley Building Society launches online fixed rate ISA

Barnsley Building Society has launched a new Fixed Rate Online ISA paying a very competitive rate of 3.00% fixed until 31/12/11.  The product is available to new and existing customers including those who have existing tax-free savings elsewhere and pays over four times more interest than the average cash ISA.

Sarah Lawrence, Senior Product Manager for Savings at the Society said: "In the current low interest rate environment, I'd encourage savers to check the rate on their ISA accounts as shopping around for a better deal can really pay off.

"Those who invest their maximum tax-free allowance for this tax year in the new Online Fixed Rate ISA for the term of the product would earn an additional £166 in interest compared to savers earning an average rate of just 0.70% on cash ISAs - that's over four times more interest."