Sep 27 2007
A new "mini" cash-based individual savings account (Isa) has been made available to consumers looking to boost their savings pot.
The new Isa offering from Britannia is designed to attract the millions of UK consumers who have so far not taken advantage of a tax incentivised savings vehicle.
Interest on the accounts are to be paid out on October 31st each year that the product is active and Britannia notes that funds currently in similar accounts run by other service providers can be switched into its mini cash Isas.
Neville Richardson, Britannia's chief executive, said: "Our recent research showed that almost half of the population have never opened an Isa and are missing out on the benefits of tax free savings.
"This market leading mini cash Isa will enable savers to make the most of their tax free allowance and save with Britain's best mutual."
Child trust funds offer British consumers another way to benefit from tax incentivised savings and have now been available for the last five years.
