Jul 2 2008
A new cash-based individual savings account (Isa) has been made available by Alliance & Leicester.
The financial services firm has dubbed its newest product the Easy Isa in reference to what it suggests is the straightforward and easy-to-understand way in which the account operates.
Up to £3,000 can be invested into the Easy Isa and interest is paid out at six per cent on an annual and tax-free basis.
Many parents around the country use their tax-free Isa allowance in order to bolster their efforts of saving for children and Alliance & Leicester is keen to see people take advantage of its latest offer.
"A cash Isa is just a simple savings account, except that the interest is paid without tax being taken off," said Hetal Parmar, manager for savings at Alliance & Leicester.
"Our Isas have proved to be extremely popular, offering great rates and the convenience of 24-hour access."
The Building Societies Association recently claimed that people across the country have been flocking to branches of its member organisations in recent months.
