The Principality Building Society has unveiled a new issue of its 18-month Fixed Rate Cash Isa.

It offers a tax free interest rate of 3.33 per cent and is available for balances from £500 up to the cash ISA limit of £5,640 for the 2012-13 tax year.

The product allows transfers in from customers previous ISA providers.

The product can be opened online, in branch or by phone.

Kate Murray, Principality's Savings Manager, commented: "We have experienced significant growth in savings over the last 12 months, and we are working hard to make sure we continue to offer our Members the best possible value in the current market.

"Our 18 Month ISA has proven to be one of our most popular products as it offers a great solution for people looking to save over a short to medium term."