Direct ISA - Alliance & Leicester - new tax-free savings account

Alliance & Leicester is launching a new tax-free savings account. The Direct ISA is a mini cash ISA and will be available from Thursday 3rd February.

The new Direct ISA offers:

• Tax-free interest rate of 5.40% gross
• Easy access using Telephone or Internet Banking
• Minimum balance: £1
• Maximum subscription in a tax year: £3,000
• Transfers of existing ISA balances will be accepted

• Deposits/withdrawals are made from/to a linked current account* using Telephone or Internet
  
  Nathan Barber-Kebby, Manager for Savings at Alliance & Leicester said: "With the end of the 2004/05 tax year looming, people need to move quickly to take advantage of their tax-free savings allowance, by opening an ISA. Alliance & Leicester is offering a great new product, with a market-leading rate of interest and easy access, by phone and internet."