Sainsbury's enters Isa market with tracker and income plans

Sainsbury's Bank has launched its first Isa products into the direct retail market. The banking arm of the supermarket is now offering both a FTSE 100 index tracker and an income Isa investing in corporate bonds with a target yield of 5.75%. Both products are Cat standard with no front-end charges and a 1% annual management fee. The Income Isa has a £500 minimum initial investment with an option of investing further top-ups of at least £500, up to the Isa limits. The FTSE 100 tracker has a minimum initial investment of £500 and £50 minimum monthly contribution. The underlying in...