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B&B launches new mini cash Isa today

Bradford & Bingley is today launching a new e-savings Isa with a tax-free interest rate of 5 per cent a year.

With only two weeks to go before the cut-off date of April 5, B&B is encouraging investors to make the most of their tax-free allowances, but says there is still time yet.

Last March saw 340,000 Isas opened, making up 15 per cent of the years total.

Key features of the e-savings Isa include: tax-free interest rate of 5 per cent gross AER and a minimum opening investment of 1,000. The annual interest rate is guaranteed as set at no lower than the Bank of England base rate until the end of 2006.

Bradford & Bingley director of product development Ian Cornelius says: This new e-savings Isa will appeal to those who not only want a good tax-free rate on their investments, but also want to be able to make as many deposits and withdrawals as they like, notice-free and penalty-free.

Those who havent yet made the most of their annual tax-free allowances have until April 5 to do so. A mini cash Isa is an ideal way to maximise your tax efficiencies and earn a great rate on your savings.


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