The Co-operative Bank enhances Cash ISA range

The Co-operative Bank is rewarding existing customers with preferential rates and the launch of its new Cash ISA range.

With 87% of customers yet to invest their full 2011 / 2012 ISA allowance, from Tuesday 21 February the bank is offering savers greater choice with the launch of its Select Access Cash ISA and 18 Month Fixed Rate Cash ISA products.

Select Access Cash ISA

In response to feedback from customers who wanted the higher rate traditionally offered by fixed rate ISAs but with some flexibility to access to their savings, The Co-operative Bank has launched its new Select Access Cash ISA.

With research revealing that two thirds of consumers have an emergency fund* containing savings that can be easily accessed, the product has been designed to support customers who save for life's unexpected events. The ISA enables customers to make two withdrawals per year with no impact on their savings interest rate and unlike other products on the market, customers do not need to notify the bank in advance of making a withdrawal.

18 Month Fixed Rate Cash ISA

For those customers who want a higher rate, The Co-operative Bank has launched an 18 month Fixed Rate Cash ISA. This follows customer feedback revealing that many savers want a higher rate on their ISA but don't want to lock their money away for as long as two years.

Zack Hocking, Head of Savings at The Co-operative Bank said: "As a responsible bank we're committed to helping our customers manage their money more effectively no matter what their financial situation is.

"We're already helping thousands of customers get their finances in order by not charging any interest on our agreed overdrafts until April. With the end of the tax year looming we also want to reward our customers by offering them our best savings rates and a range of new products to suit their requirements. Many banks reserve their best deals for new customers only but our Cash ISA range has been designed with those who already bank with us in mind."

In addition to the new Cash ISA products, The Co-operative Bank also offers a range of 1 year fixed rate ISAs, fixed until 05/04/13 and Stocks and Shares ISAs. Further details are available at co-operativebank.co.uk/savings.