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21/03/2012

Principality launches e-ISA Issue 3 with enhanced rate

Principality Building Society is set to launch a new edition of it’s online variable rate e-ISA Issue 3 account, which offers a market-leading rate of 3.10% Tax Free*/ AER**.

The e-ISA Issue 3 includes a 1.30% unconditional introductory bonus rate for the first 12 months. Launching on Thursday 22 March, the account is available for balances of £1 up to the annual cash ISA limit which is £5,340 for the 2011/12 tax year.

In addition, the account allows customers the advantage of transferring in all of their previous years’ and current year’s ISA allowance from other providers.

James Ablett, Senior E-commerce Manager at Principality Building Society, commented: “For those looking for instant access to their ISA savings and the ease of managing their account entirely online, Principality’s new edition of the e-ISA offers one of the best rates in the market. Our recent improvements to the website ensure that savers can now do even more online, quickly, simply and at a time that is convenient for them.”

The e-ISA Issue 3 account is available to UK residents over the age of 16.

Product Details
Product Name: e-ISA Issue 3
Launch Date: 22nd March 12.01am
Rate & Term Details
Tax-Free/AER Net p.a. Rate Type Tier
3.10% Tax Free*/AER** Including 1.30% introductory bonus for 12 months n/a Variable n/a
Product Terms
Interest Payments: Interest will be calculated daily and paid on 06th April. Interest must be added to the account.
Term Bonus rate applicable for 12 months from account opening when the account matures to standard e-ISA (currently 1.80% variable) and it becomes subject to the terms and conditions of that account.
Minimum age: 16
Minimum opening deposit: £1
Maximum opening deposit: £5,340 (for 2011/12 tax allowance); transfers-in permitted
Matures into: e-ISA Issue 1 (9100)
Withdrawals: Instant access
Closure: Permitted, but once closed an ISA account cannot be reinstated
Transfers In: Permitted
Additional deposits: Permitted up to the 2011/12 allowance limit; transfers-in of all previous years’ ISA allowance permitted.
Conditions for bonus (if applicable): Unconditional bonus of 1.30% calculated daily and paid for 1 year from the date of account opening
Special Conditions: May be transferred to another approved ISA provider without notice or penalty.

*TAX FREE means the interest you earn is exempt from UK Income Tax and Capital Gains Tax. Tax treatment depends on individual circumstances and may not be maintained in future.

**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year.

Published: 21/03/2012

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Principality Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, reference number 155998.