This week Post Office Money unveiled a new Online ISA which gives customers the option to spread their annual cash ISA allowance across more than one product, including a choice of variable and fixed rates.
Post Office Money said they are looking to remove unnecessary restrictions and to give the customer more flexibility and control over their tax free savings.
This latest product enables savers to consolidate all their ISAs, spreading or splitting their savings across various rates in one tax-free account.
The Online ISA was launched yesterday (16th February) and is available to customers to save up to £15k per annum without paying any tax on the interest earned..
Accounts within this Online ISA include an Easy Access ISA paying 1.50% AER and Fixed Rate ISA Bonds for a one and two year term, paying 1.55% AER and 1.95% AER respectively.
A spokesman for Post Office Money, said. “Whether customers simply want a fixed or variable rate, the ability to open multiple cash ISA products in the same tax year, or the ability to manage their cash ISA savings online or all of the above – the new Post Office Money Online ISA is definitely one to consider.”
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