Barclays Golden ISA launched

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Barclays Golden ISA launched

Barclays has announced the launch of a new individual savings account (ISA), which it is calling the Golden ISA.

According to the bank, the ISA offers the best returns on the market with its "massive" rate of interest, paying customers 3.05 per cent above the Bank of England's base rate.

The ISA requires a minimum investment of £1 and customers can deposit anything up to £3,600 into the account. It also offers customers unrestricted access to their money without incurring any financial penalties.

Andy Gray, Barclays' head of mortgages and savings, said: "We would encourage customers who have not already subscribed to an ISA in the current tax year to apply as soon as possible so they do not miss out on their annual ISA allowance."

People in the UK are entitled to earn tax-free interest on savings of up to £7,200 per year if they deposit the money in ISAs.

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