Abbey offers 10 per cent Isa

Tue, 22 Apr 2008

Abbey is still offering an individual savings account (Isa) with an interest rate of ten per cent, the bank has announced.

The minimum investment in the Super Isa is £1, but people will also have to place £1,500 into an Abbey investment product to benefit from the product.

Reze Attar-Zadeh, head of savings and investments at Abbey, said: "This is a tax efficient way to build a diversified portfolio to save for the future.

"Since markets have fallen, the product combination of the top paying cash Isa rate offering instant access with an appropriate investment is compelling."

He added that investing in an Isa early in the tax year is a good idea, as people waiting until the start of April 2009 could miss out on interest payments totalling £4.3 billion.

The ten per cent rate of interest on the Super Isa is fixed for one year.

Last week, Roy Beale of Nationwide said that the increased amount of money people can put in Isas each year is good news for consumers.
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