Reap the benefits of tax-free saving with Skipton’s new ISA range

Skipton Building Society has launched a competitive suite of ISA accounts aimed at encouraging people to make more of their tax free savings allowance.

The new offering from Skipton - Winner of the 2010/11 Best Cash ISA award - is backed by a service commitment and aimed at making it easier than ever to save money and avoid the Tax Man's clutches.

The new range, now available via the Society's national branch network and Skipton Direct customer service centre, offers a range of competitive options for varying needs - from regular savings to easy access and fixed rates. And there's even an innovative new account to help ensure people don't miss out on next year's ISA season.

Details of the new range of ISAs are as follows:

Regular Saver ISA: deposits of up to £445 per month (2010/11 tax year), 3.25% p.a AER fixed;

Super ISA: Ideal for new deposits or consolidating existing ISA balances, with easy access and tiered rates of 2.00% p.a AER variable from £500 to £19,999; 2.75% p.a AER variable from £20,000 to £49,999 and 3.10% p.a AER variable for £50,000-plus;

1 Year Fixed Rate Cash ISA: fixed until 21 February 2012, 2.95% p.a. AER from £500 to £49,999; 3.10% p.a. AER on £50,000-plus;

2 Year Fixed Rate Cash ISA: fixed until 21 February 2013, 3.15% p.a. AER from £500 to £49,999; 3.25% p.a. AER on £50,000-plus;

3 Year Fixed Rate Cash ISA: fixed until 21 February 2014, 3.50% p.a. AER from £500 to £49,999; 3.70% p.a. AER on £50,000-plus;

5 Year Fixed Rate Cash ISA: fixed until 21 February 2016, 3.95% p.a. AER from £500 to £49,999; 4.05% p.a. AER on £50,000-plus.

*All quoted rates are tax free

In addition, the Society‘s Super ISA Feeder enables customers to start putting aside their 2011/12 ISA allowance in readiness. Paying 2.25% p.a AER variable, this rewarding, easy access account will automatically move funds into the Super ISA at the start of the new tax year and enable them to continue saving for their 2012/13 allowance.

Understanding that transferring an ISA from one provider to another can seem daunting, the Society will ensure it sends transfer requests to existing providers on the day someone applies for a Skipton ISA.  The Society will then contact the other provider if a response has not been received within 10 working days, back dating interest to the date on which the funds are sent by the previous provider.

Kris Brewster, Head of Products at Skipton, said: "Despite ISAs being around for a decade we know from the regular research carried out that too many people are still failing to reap the tax-free benefits they offer.

"As a mutual, we're committed to helping people manage their finances responsibly and develop the savings habit, with ISAs as an important lynchpin in any portfolio. We've launched these straightforward and rewarding new products to make ISA saving simplicity itself, in the hope that it will become second nature to more people.

"Our new ISAs combine competitive rates, savings options to suit varying circumstances and the added reassurance of a no-nonsense transfer for people bringing their funds to us from other providers."

All of the new accounts are available to new and existing customers and will complement Skipton's existing good value product range, which includes its NSPCC ISA, which sees a portion of members' interest donated to the children's charity, and its award winning Cash ISA.