Bradford & Bingley launches new Isa

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Bradford & Bingley launches new Isa

Bradford & Bingley is to launch a new fixed-rate individual savings account (Isa) with an interest rate of 6.25 per cent.

The account will be available from April 6th, although customers will be able to make applications from today.

Savers must have a lump sum of £3,600 to be able to take advantage of the rate, which is fixed for one year.

Interest on the account can be credited or paid out and no withdrawals are permitted until the account matures.

Paul Whitlock, head of savings at Bradford & Bingley, suggested that with the economic climate currently uncertain, competitive fixed rates give investors "crucial peace of mind".

"Our new Isas are ideal for savers who want to shore up their cash Isa allowance for the 2008-09 tax year in an account with a market-leading rate," he said.

Nationwide recently revealed that two-thirds of Britons still not do have an Isa account.
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