ISA Rates

The Yorkshire Building Society (YBS) announced this week that they will be launching a new cash ISA, offering savers a fixed rate of 3.25% per annum.

The new tax-free savings scheme according to the Yorkshire Building Society is available with a minimum deposit of just £100. The cash ISA will stick at the same annual rate (3.25%) until February 2013. The YBS cash ISA is tax-free and has the additional option of allowing you to be paid a monthly interest which benefits savers who are looking to draw a regular income from their savings.

According to the Chief Executive, Iain Cornish of Yorkshire Building Society, the cash ISA is open to new account holders as well as allowing original existing ISA balances to be transferred in.

Mr Cornish urges savers to 'make use of their tax free allowance as it's important that savers make their money work hard for them, especially in this low interest rate environment'.

New customers can open their tax-free cash ISA account at any one of the building societies 135 branches or alternatively the ISA account can be opened by post or through YBS's 78 agencies.