Banks join the race for Isa investors
Two biggest banks Barclay and Halifax are fighting for the Cash ISA market this year. They both launched competitive Isas before the April 5 deadline so savers rushed to use the £3,600 allowance and £5,100 for savers over 50.
Experts have been traditionally waiting for Barclays’ launching its Cash ISA because it always has top-rated tax-free savings products. This tax year Barclays’s launching 2 new ISA accounts. One of them is paying 3,06% including 1% bonus for the year. The only downside is it doesn’t let transfers from previous years in. Halifax launched a product that pays 2,6% and accepts transfers.
Derbyshire Building Society also offers new deals it pays 3,25% and accepts transfers. Saver can invest from £100. Principality Building Society launched 4,5% 5 years fixed rate deal. One can invest minimum £3,600 transfers accepted.
No matter what ISA you choose don’t miss the deadline – April 5 especially this year 2010 because it’s on Easter Monday. Make sure you won’t be a fool and do it before April 1st as April 2nd is Good Friday and the weekend April 3rd and 4th so providers will be closed.