Yorkshire Bank: Cash ISA investments increase
www.moneynews.co.uk > Banking > Yorkshire Bank: Cash ISA investments increase
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Money News |
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Yorkshire Bank: Cash ISA investments increase
Fri 24th Apr 2009
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The bank said that it had seen an increase of nearly ten per cent in the total amount deposited, which it attributes in part to the recent introduction of a two-tier interest rate for cash ISA customers.
Savers who have more than £24,000 in their cash ISA account now receive interest at a rate of two per cent from the bank.
Gary Lumby, head of retail at Yorkshire Bank, said: "Our cash ISAs are proving very popular not just with customers saving for the longer term, but also with those who prefer to have the safety net of having instant access to their money with us if they need it."
In this week's budget speech, Alistair Darling announced that the tax-free ISA savings allowance is to increase from £7,200 in total to £10,200.
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