Scarborough Isa 'encourages saving'

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Scarborough Isa 'encourages saving'

Tue 6th Mar 2007

Scarborough Building Society has launched a new Isa offering a hugely competitive 6.10 per cent interest.

As of yesterday, the group's guaranteed Isa plus issue 2 is available for customers to invest a lump sum in a tax-free vehicle.

The package is available either to new Isa savers or those people wishing to transfer their funds from an existing Isa or Toisa, providing at least £1,000 is deposited.

Head of marketing at the group, Tony Burdin, said he was delighted to introduce the Scarborough Isa as it possesses a "guaranteed interest rate and access to funds".

He added: "As a mutual building society, we believe we have a responsibility to encourage people to save, and rewarding them for making the most of the tax free benefits Isas offer is a key aspect of that."

Scarborough's existing Isa range also proved to be hugely popular as it is a package which can be opened with as little as £10 and currently pays 6.30 per cent on monthly investments up to £250.

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