National Savings has launched a Tessa Isa which offers the same interest rate as its cash mini Isa a...
National Savings has launched a Tessa Isa which offers the same interest rate as its cash mini Isa at 5.75%.
The Tessa Isa also comes with the guarantee that the variable rate will be at least as high as the base rate for the whole tax year to 5 April 2000.
Savers with maturing Tessas will now be able to invest proceeds of up to £9,000 in the Tessa Isa in addition to the National Savings' cash mini Isa and its range of other tax-free savings products. Deposits can be made by post.
Other key features are minimum deposits of only £10 and no fees, charges, penalties or hidden costs, according to National Savings. Interest is earned from the day the deposit is received, there is easy access to savings with no notice period, and it meets the Government's voluntary Cat standard.
Christopher Moxey, Tessa Isa commercial director at National Savings, said: "The National Savings Tessa Isa is one of the most secure and simple products in the UK marketplace. This is a tax-free savings account that has been designed to suit all Tessa savers, offering a competitive rate, low minimum deposits and flexibility."
Achievements, charity work and other happy snippets
Appetite has suffered since Brexit vote
'Failure to pay attention can result in enforcement'
200,000 LISAs opened so far
From June 2019