Post Office launches new Fixed Rate Cash ISA

To mark the start of the new tax year, the Post Office has launched a new Fixed Rate Cash ISA, available to savers in-branch, online and over the telephone from Friday 8 April. Savers wishing to make the most of their increased Cash ISA allowance of £5,340 this year, or transfer existing Cash ISAs, can now benefit from some of the highest rates in the market - up to 3.95% tax-free AER fixed.

The new rates are:
1-year: 3.01% tax free/AER fixed
2-year: 3.45% tax free/AER fixed
3-year: 3.95% tax free/AER fixed

Fixed Rate Cash ISAs can be opened with a single deposit (minimum £500 and maximum £5,340) or by transferring-in a Cash ISA held with another provider (minimum £500).

Post Office Director of Savings and Investments Richard Norman said: "These rates mean savers who are looking to invest this year’s Cash ISA allowance early can expect even better returns on their savings. If savers are able to put their money away for a year or more they can benefit from a great fixed rate of interest on their savings."

To find out more about the Post Office Fixed Rate Cash ISA or any other savings product, visit postoffice.co.uk/savings.

All savings deposits held with the Post Office are protected under the UK Financial Services Compensation Scheme (FSCS), which is authorised and regulated by the Financial Services Authority (FSA) and provides cover up to £85,000 per investor.