Abbey Super ISA offers 10 per cent tax free!
On 3rd March 2008 Abbey will be launching a new Super ISA with a market leading rate of 10 per cent AER, tax free! It’s really a two part ISA, essentially a cash ISA the 10 per cent is available if customers agree to put an equivalent amount into Abbey’s tax efficient Guaranteed Growth Plan or any other investment that’s specified.
The Super ISA also allows you to transfer in cash from other ISA accounts you may have and it offers instant access to your cash if you need to get hold of your money quickly. Any money you put into the Guaranteed Growth Plan is tied in for a longer term but it offers guaranteed returns of 6 per cent if you invest for 3.5 years or 18 per cent if you invest for 6 years. The capital is guaranteed, so no matter what happens to the stock market your money is safe!
If you decide to close the Guaranteed Growth Plan early you might get back less than you invested, but as long as you keep your money in for the full agreed term Abbey will guarantee it. Abbey also reserve the right to withdraw the product if it becomes over subscribed, but they don’t mention how much exactly oversubscription would be…
Director of Savings and Investments at Abbey, Reza Attar-Zadeh said: “Super ISA offers the compelling combination of strong instant access cash ISA rate coupled with a tax efficient investment, guaranteed against falling markets. It also offers the potential for higher returns based on any growth of the FTSE 100.
“Given current market uncertainty and volatility, we think this product is particularly attractive as it offers the potential for capital growth yet provides capital protection against a further market down-turn.”
Well worth considering if you’ve already got an ISA and can transfer the money or a great product to start investing with. Take a look by >>Clicking here from 03rd March onwards!>>