Investments News

Scarborough introduces new Isa with "great returns" - 22/05/2007

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Scarborough Building Society has announced the launch of a new three-year fixed-rate individual savings account (Isa) carrying a rate of 5.85 per cent.

According to the financial services provider, the new deal will help to encourage more customers to save and offer security in a climate of changing interest rates.

"As a mutual building society, we believe we have a responsibility to encourage people to save and rewarding them for making the most of the tax-free benefits Isas offer is a key aspect of that," explained Tony Burdin, the firm's head of group marketing.

Savers will be able to invest £3,000 in this current tax year and transfer balances from existing Isas and Toisas to the new account.

In March, Abbey suggested that consumers who invest in Isas "year after year" should look for accounts that allow balances to be transferred from a pre-existing Isa.

© Adfero

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