Halifax launches new ISA
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Money News |
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Halifax launches new ISA
Tue 24th Feb 2009
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The bank's new offering pays interest at a guaranteed rate of three per cent gross for the first year, provided there is a minimum deposit of £1,000 which must be maintained over the 12-month period.
Called the ISA Direct Reward, the new account allows up to four withdrawals in the space of the year and accepts transfers from previous ISAs held with other banks.
Flavia Palacios Umana, head of Halifax savings products, said: "By launching this product now, we hope to encourage savers to maximise their tax-free savings in both the 2008-09 and 2009-10 tax years."
Interest earned on savings held in ISAs is tax-free providing it does not exceed £7,200 in one tax year. The current tax year for ISAs ends on April 5th.
Click here for more banking news
Related News : Banking |
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Related News : Halifax |
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