New tax year, new rate at Principality

Fri, 08 Apr 2005

Principality is launching new ISA rates for the new tax year, guaranteeing a return of 5.20 per cent.

Wales's largest building society is promising the return for up to two-years.

Both its mini cash ISA and TESSA Only ISA now have the 5.20 per cent rate and the option of fixing the rate for either one or two years.

"These products offer a competitive rate and guaranteed returns for either one or two years, enabling our customers to choose the products that best suit their needs," commented the managing director of Principality Building Society, Tracy Morshead.

Principality can also transfer existing mini cash ISAs or TESSA Only ISAs from other providers.

It hopes consumers will opt to make the change and take advantage of tax-free returns at the 5.20 per cent rate.

If customers have already reached their tax-free limit, Principality offers the ability to arrange fixed rate bonds.

These guarantee customers the return they get paid over a one or two year period at the rate of 5.20 per cent

Maxi ISAs are also available at Principality and are provided through Norwich Union.

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