Post Office launches new Growth Bond and Isa

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Post Office launches new Growth Bond and Isa

Wed 20th Jan 2010

The Post Office has announced it is to launch two new savings products, offering interest above inflation rates.

A Growth Bond, offering terms of between one and three years, is being made available with rates of up to 4.4 per cent AER. It is available with a minimum investment of £500.

There has also been a new Fixed Rate Cash Isa issued, which is available for a year and provides a rate of three per cent AER tax free for investors.

Consumers aged over 50 were also reminded by the Post Office to take advantage of the new savings levels they can enjoy on Isas, which allow them to pay £5,100 into a cash Isa each year without paying tax on their interest. The new limits are available for all consumers from April 1st.

Post Office director of savings and investments Richard Norman said: "Whatever your age, opening a new Fixed Rate Cash Isa is a great way of ensuring you are making the most of your tax-free saving."

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