Skipton launches new bonus cash ISA

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.

On Monday, Skipton announced that its One Year Fixed Rate ISA will now be available at 1.45% with its 2 Year ISA on offer at 1.65% and 3 Year ISA at 1.80%.

Savers can also take advantage of Skipton’s Fixed Rate Bonds with the One Year Fixed rate increasing to 1.40%. Some online Fixed Rate Bonds are also offering increased rates, with the One Year e-Bond at 1.55% and 2 Year e-Bond at 1.60%.

Head of Products Kris Brewster said:

“Our message is that everyone should make the most of the tax-efficient benefits of ISAs before they consider taking out any other type of account.

“Therefore, we want to ensure that our ISA range is as varied and flexible as possible, to ensure there is one to suit everyone, whether they are using them for long term saving towards retirement or another goal, or simply for rainy day back up savings.

“This is why we have launched this rewarding new Bonus Cash ISA which offers a highly-competitive rate for this type of product - easy access and the added benefit of being tax-free.”

“We will continue working hard to ensure that our range of ISA options is as varied and competitive as possible, to enable people to take maximum advantage of this fantastic tax-free opportunity.”