Savings

AA internet access ISA launched

25 August 2010

The AA has introduced an online version of its best-buy instant-access cash ISA. It offers 2.70% AER* (variable), including a 1% bonus for the first 12 months.

The minimum deposit for the AA Internet Access ISA is £500 and it offers unlimited access to funds with no notice of withdrawal (subject to tax limits) via a linked bank account. Interest will be paid annually on the anniversary of the account opening.

Mark Huggins, director of AA Financial Services, says that all savers should take advantage of the tax breaks open to them – yet only 18 million Brits enjoy tax free savings.

"The current AA Access ISA is proving to be a success so we have developed an online version of the account to extend its appeal.

"The AA's Internet Access ISA can be used in much the same way as an instant-access account, offering one of the best** tax free interest rates up to the current limit of £5,100. With more people using the internet and operating savings accounts online it's easy to look after your money whenever it suits you."

Rates and information correct as at 19.08.2010.

**Source: Moneyfacts 18.08.2010.

*AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

 

27 August 2010