Skipton expands ISA availability

The account was launched for branch, post and telephone applications two weeks ago, offering interest of 1.50%, including a 0.50% bonus for 12 months. From today, applications for the account can be made online.

The Bonus Cash ISA was added to an existing tax-free savings range at Skipton as the Society gears up for a busy ISA season.

Skipton was the first financial services provider to announce itself NISA-ready when Chancellor George Osborne announced major changes to ISA limits in 2014, with savers now being able to invest up to £15,000 in a tax-free wrapper. The maximum amount rises to £15,240 in the new tax year, which begins on 6 April.

Head of Products Kris Brewster said:

“We are pleased to now offer our Bonus Cash ISA online. We believe everyone should make the most of the tax-efficient benefits of ISAs before they consider taking out any other type of account.

“Although customers may be able to save tax-free in a far more wide-ranging manner in the future because of the changes proposed in this week’s Budget, the rules for the coming tax year remain the same. Only savings put in an ISA remain totally tax-free.”