We all want to make the most of the interest we earn on our savings and ISAs let you do just that because of their tax free status.
(PRWEB UK) 17 April 2013
The West Brom has unveiled three new savings accounts to help customers maximise their investment options for the new tax year.
The range features variable and fixed rate cash ISAs available to customers through both the internet and the building society’s branch network. Two of the three accounts allow ISA balances from previous tax years to be transferred in.
WeBSave ISA 8 is an easy access internet cash ISA paying 2.00% tax free gross p.a./AER variable. This rate includes an unconditional bonus of 0.50% up to 30 April 2014.
The account is for opening balances of £1,000 and over up to the recently increased £5,760 annual limit. Transfers in are also permitted.
The West Brom says a key feature of this account is instant access to funds without charge at any time.
Branch customers have a choice of two new West Brom cash ISAs to consider. The Society’s Two Year Fixed Rate ISA offers 2.00% tax free gross p.a./AER fixed until 30 April 2015.
The minimum opening balance is £1,000 and the maximum is this year’s cash ISA limit of £5,760, plus transfers in from previous tax years which are accepted. Additional deposits cannot be made.
Access to funds is permitted during the two-year term with 120 days notice. Access without notice results in a charge equivalent to 120 days loss of interest on the amount withdrawn.
Interest is paid annually and can be credited to the account or paid away.
Completing the range is the Branch Bonus ISA, again for customers who use their local West Brom branch.
This is a passbook account paying 2.00% tax free gross p.a./AER variable, including an unconditional bonus of 0.50% up to 30 April 2014.
It is for opening balances of £1,000 and over. The maximum balance is £5,760 – this year’s ISA allowance – and transfers in are not permitted.
Two withdrawals can be made per year with no loss of interest. Subsequent withdrawals will incur a charge equal to 60 days loss of interest on the amount withdrawn.
Commenting on the West Brom’s ISA offer for the new tax year, Sales and Marketing Director Richard Hopwood said: “An increased personal tax free allowance for 2013/14 is welcome news for savers and we are pleased to be delivering a variety of competitive investment options for our customers at the start of the new tax year.
“We all want to make the most of the interest we earn on our savings and ISAs let you do just that because of their tax free status.
“We have given consideration to how customers prefer to manage their money, be it via the internet or a local branch, and added options for transfers in to help long term savers as well as those who are just starting out.”