New ISA Savings Acounts From Skipton

Skipton Building Society has a new range of competitive ISA savings accounts aimed at helping people maximise their tax free savings.

The new ISAs offer a range of options, including regular savings, easy access and fixed rates, to meet varying needs.

Included within the new accounts is the Super ISA Feeder which allows customers to strat saving for their 2011/12 allowance.

It pays 2.25% AER and will automatically move funds into the Super ISA at the start of the new tax year. Customers can then continue to save their 2012/13 allowance.

The new ISAs complement the Skipton’s existing products and in addtion to the Super ISA Feeder, the new range includes:

• Regular Saver ISA: deposits of up to £445 per month (2010/11 tax year), 3.25% p.a AER fixed;
• Super ISA: Ideal for new deposits or consolidating existing ISA balances, with easy access and tiered rates of 2.00% p.a AER variable from £500 to £19,999; 2.75% p.a AER variable from £20,000 to £49,999 and 3.10% p.a AER variable for £50,000-plus;
• 1 Year Fixed Rate Cash ISA: fixed until 21 February 2012, 2.95% p.a. AER from £500 to £49,999; 3.10% p.a. AER on £50,000-plus;
• 2 Year Fixed Rate Cash ISA: fixed until 21 February 2013, 3.15% p.a. AER from £500 to £49,999; 3.25% p.a. AER on £50,000-plus;
• 3 Year Fixed Rate Cash ISA: fixed until 21 February 2014, 3.50% p.a. AER from £500 to £49,999; 3.70% p.a. AER on £50,000-plus;
• 5 Year Fixed Rate Cash ISA: fixed until 21 February 2016, 3.95% p.a. AER from £500 to £49,999; 4.05% p.a. AER on £50,000-plus.

Kris Brewster, Head of Products at Skipton, said: “Despite ISAs being around for a decade we know from the regular research carried out that too many people are still failing to reap the tax-free benefits they offer.”

Adding “Our new ISAs combine competitive rates, savings options to suit varying circumstances and the added reassurance of a no-nonsense transfer for people bringing their funds to us from other providers.”

To help ease the transfer of an ISA from one provider to another, Skipton will ensure it sends transfer requests to existing providers on the day someone applies for a Skipton ISA.  The Society will then contact the other provider if a response has not been received within 10 working days, back dating interest to the date on which the funds are sent by the previous provider.