Santander Launches Flexible ISA Issue 4

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Santander

15 Aug, 2011, 09:49 GMT

LONDON, August 15, 2011 /PRNewswire/ --

On Monday 15 August, Santander will launch Flexible ISA issue 4.  For the first 12 months the account will pay a very competitive minimum guaranteed rate of 2.81 per cent AER, tracking at 2.31 per cent above the Bank of England base rate.

    Account              Flexible ISA Issue 4
    Interest rate (AER)  Minimum 2.81% (2.31% + BoE base rate) for 12 months
    Minimum              GBP1
    Withdrawals          Easy Access
    ISA transfers in
    accepted             No
    Opening              Branch, Online, Telephone
    Management           Branch, Online, Telephone & Cash machine

Flexible ISAIssue 4, which is replacing Issue 3, not only offers peace of mind through a minimum rate guaranteed, it also allows easy access to the money without notice or penalty.  The account is designed to encourage people to save tax-free and make the most of their annual cash ISA allowance.

Reza Attar-Zadeh, Director of Santander Savings and Investments said: "Flexible ISA offers savers the best of both worlds for the first 12 months; a rate that tracks changes in the Bank of England base rate as well as a guaranteed minimum return for additional peace of mind.  Added to that is easy access, so savers can get their money when they need it.  All in all, a great combination of benefits for a cash ISA with a competitive tax free return."

Savers can apply in any Santander branch, over the telephone by calling 0800 234 6065 and by visiting the Santander website at Santander.co.uk.

Flexible ISA Issue 4 is available for new ISA subscriptions and does not allow transfers-in of existing ISA money.  Santander offers competitive Fixed Rate ISAs and a Direct ISA Issue 7 for customers wishing to transfer in their existing ISA money.

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors

1 - For the first 12 months, if the Bank of England base rate changes, the rate on Flexible ISA Issue 4 will change on the 1st of the following month. After 12 months Flexible ISA Issue 4 pays a variable rate, currently 0.50%.

About Us

Santander UK plc is a full-service retail and commercial bank providing services such as Santander home insurance, mortgages and bank accounts to 25 million customers in more than 1,400 branches and around 4,200 cash machines.  It is a wholly owned subsidiary of Banco Santander.

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. At the end of 2010, Santander was the largest bank in the euro zone and 10th in the world by market capitalization. Founded in 1857, Santander had at year-end EUR 1,362 billion in managed funds, more than 95 million customers, 14,082 branches - more than any other international bank - and 179,000 employees. It is the largest financial group in Spain and Latin America. Furthermore, it has relevant positions in the United Kingdom, Portugal, the U.S. northeast and, through its Santander Consumer Finance arm, in Germany and Poland. Santander registered €8,181 million in net attributable profit in 2010.

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