New Online Cash ISA from the West Brom pays 2.92%

The West Brom has re-launched its popular WeBSave ISA online savings account with an improved rate of interest.

The account pays 2.92% AER (2.91% tax-free p.a.) on balances of £1,000 or more, which includes an unconditional bonus of 1.16% up to 31 July 2012.

Transfers in from previous years’ ISAs are accepted and the account is not linked to the purchase of any other West Brom savings product.

Stephen Leonard, the West Brom’s Divisional Director for Marketing and E-Commerce, said: “Our original WeBSave ISA was really well received, with customers welcoming the flexibility of being able to transfer funds in from other providers and operate their account online, while still qualifying for a market leading rate.

“The start of a new tax year, plus an increase in the annual tax-free cash ISA allowance to £5,340, makes it the perfect time to reintroduce this popular product, which continues to offer competitive returns.

“The sooner people start to utilise their ISA allowance, the sooner they can start to reap the full rewards of tax-free savings.”

The West Brom is a leading provider of financial products and services in the West Midlands and the sixth largest building society in the UK.

WeBSave ISA 2:

- Cash ISA offering a rate of 2.92% AER (2.91% tax-free p.a. up to the usual ISA limits) on balances over £1,000, which includes a 1.16% unconditional bonus up to 31 July 2012

- Minimum opening balance of £1,000. Additional investments can be made at any time subject to ISA rules

- Easy access – without notice or loss of interest for up to three withdrawals each account year. Withdrawals beyond the permitted account limit will incur a charge equal to 60 days loss of interest on the amount withdrawn (to 31 July)

- Available to new and existing West Brom customers. The WeBSave ISA is not linked to the purchase of any other West Brom product in order to access its rate.