UK Money News
10th March 2008
Egg's Cash Isa 'more accessible than rival products'
Egg's Cash Isa (Independent Savings Account) offers savers greater flexibility over their money and is far more accessible than rival products, the firm claims.
According to the lender, unlike other rival products the Cash Isa is available to all rather than exclusively to the firm's existing customers.
The account also enables savers to make minimum withdrawals of £1 with no notice period and can be opened with a minimum deposit of just £1.
Tobias van der Meer, head of consumer banking and investments at Egg said: "With our Cash Isa, we wanted to not only provide an attractive headline rate, but also be transparent in our offering and make it easy for people to open - the online application process takes just minutes.
"Hopefully, this will encourage more people to take out a Cash Isa early in the new tax year and take full advantage of a highly competitive and tax-free interest rate."
The account pays an interest rate of 6.5 per cent with holders able to deposit up to £3,000 for the 2007/2008 tax year, rising to £3,600 for the 2008/2009 tax year.
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