Egg Isa 'unveiled'

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Egg Isa 'unveiled'

Tue 10th Apr 2007

Egg's new Isa offering has been touted as providing "a very competitive rate of interest with no catches".

The mini cash package will be paying a rate of 6.05 per cent, with savers having the option of depositing money into the Egg Isa using a variety of methods.

Requiring a minimum investment of £1, the Egg Isa is transparent as well as easy to open, with Mike Monk, head of savings and investments at Egg, claiming that an online application only takes minutes.

The group has provided a number of tips for those people looking to get their hands on the most competitive Isa available, including shopping around and checking the minimum balance of a product.

In order to maximise the benefit of the tax free allowance, Egg recommends that consumers also open their Isa as soon as possible into the new financial year.

Mr Monk said: "There are a number of attractive headline rates in the market, but savers need to be aware of the conditions associated with many of these products.

"Some rely on short-term bonuses to boost their headline rate and others act as a carrot to entice people to invest in other products," he added.

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