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Rate increase and Isa launch by Aldermore
Aldermore has enhanced its one-year fixed-rate Isa and launched a new 60-day notice cash Isa to help savers cope with the economic conditions.
Simon Healy, head of savings for Aldermore, said the rate for the one-year had increased from 3.20 per cent to 3.35 per cent while the new Isa had a rate of 3.15 per cent.
He added: “These accounts represent an enhancement to our strong cash Isa range. With tough economic conditions and busy lives, these simple accounts offer customers an easy route to high returns now and in the future.”
Mr Healy said that transferring balances from lower-paying accounts into an Aldermore cash Isa would help investors maximise their tax-free allowance.
The one-year fixed rate is guaranteed and the rate on the 60-day notice Isa will remain at 1.75 per cent above the Bank of England base rate until 1 March 2013.
Jaskarn Pawar, director of Northamptonshire-based Investor Profile, said: “I like the products. It is a pretty competitive rate if you are happy to tie up some money. You can get 3 per cent from ING Direct on its cash Isa which is instant access, so it is just about weighing up whether you are happy to tie the money up for a bit.”
