Cheshire BS launch new Direct Cash ISA that pays 3.06%

Saturday, 04 February 2012 11:17

The Cheshire Building Society has launched a new Direct Cash ISA which pays interest of 3.06 per cent AER.

The rate applies to balances of more than £1,000 and includes an introductory bonus of 2.06 per cent until the 30th September 2013.

The Direct Cash ISA is only available for new ISA subscriptions and can be opened online or by phone.

New subscribers can make as many deposits and withdrawals by post as they like without loss of interest.

Matthew Wyles, Nationwide's Group Distribution Director, said: "With only two months to go before the end of the tax year, we are conscious that there are many who have not used a penny of this year's cash ISA allowance. It is important to make the most of this year's allowance as you don't get many things in life tax-free. If you don't use it, you will lose it forever.

"So with that in mind, we are launching the Direct Cash ISA. It's an account that offers savers the best of both worlds – a competitive rate to make the most of their tax-free allowance combined with the benefits of easy access. If you're trying to find the balance between rate and access then this account should certainly fit the bill."

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