Abbey National ISA

Abbey National have been out for some time marketing their very attractive Isa rates. An Isa, for those who do not know it, is an investment vehicle which is free of tax. Starting from the financial year 2008-9 it is possible to invest up to 3,600 Pounds in a Cash Isa. With an interest rate of 6.255 Abbey's promise was surely more attractive than my current Isa provider. I called Abbey National more or less one month before my Isa was due for renewal and although I was transferred between few departments, in the end I managed to speak to a very nice lady who opened the account for me. 5 Days later I received the application to be filled ...

Well what can you say about an ISA that the government hasnt already told us? Alot. The Abbey National offer an ISA to any one over the age of 16, but an account can be opened in the parents/guardians name(s) for those younger than this. Also when the person reaches 16 the account can be change over very easly. The minimum opening amount is £1, and then after thismoney can be added whenever you wish, as long as you do not reach the maximum deposit limit of £3000 PER YEAR. Withdrawels can be made whenever you require , but obviously you lose interest on the amount debited. Talking about interest ! This is payed annually at the begginging of the ...