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N&P offers 1% extra interest deal on Isa

Norwich & Peterborough Building Society is offering a variable-rate mini

cash Isa among its new range.

Minimum investment is £500 and the interest rate is currently 6.85 per

cent. N&P is also offering a fixed-rate mini cash Isa for residents of East

Anglia and Lincolnshire. Minimum investment is £3,000 and the annual

interest rate is 6.75 per cent.

The society has also set up an extra interest Isa combining the mini cash

Isa and a CGU mini equity savings account, with a variable rate of 6.85 per

cent.

The product is offering a one-off payment of 1 per cent of the investment

added at the end of the tax year.

N&P also offers two Tessa-only Isa products, one variable and one fixed.

The annual rate for the variable Isa is 6.85 per cent and 6.75 per cent for

the fixed Isa.

Group product manager Gary Lacey says “We expect the most popular product

in our range of Isas in the 2000/01 tax year to be the mini extra interest

Isa partly because of the 1 per cent bonus we are paying on the cash

element.”

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