first direct e-ISA launched

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first direct e-ISA launched

Fri 17th Feb 2006

A new first direct e-ISA (individual savings account) has been announced today with an interest rate of five per cent gross per year until September 1st 2006.

At this point the interest level will revert to the standard ISA rate – currently set at four per cent.

The minimum balance required to open the account is £1 and customers are allowed to invest a maximum of £3,000 per tax year.

Interest on the ISA will be calculated on a daily basis and paid monthly and no withdrawal or transfer fees will be charged.

Head of marketing for first direct Ben Dunn claimed that with its new account the bank had "shown that first direct is not just the best bank for customer service – we're also a seriously good home for your savings".

Customers interested in the first direct e-ISA do not already have to own a current account with the bank and can apply for the deal online.

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