Saga offers cash Isas run by A&L

Saga has launched three cash-based Isas targeted at its over-50s client base The three products, all run for the group by Alliance & Leicester, are a Cat-standard mini cash Isa, a Tessa Maturity Isa and a fixed-rate mini cash product. These three are unique, according to the group, in that they offer customers for the first time the choice of fixed or variable rates of interest The Cat-standard and Tessa versions have an opening rate of 6.25% for deposits of £3,000, fixed until 15 November. After that the rate is variable, although Saga has guaranteed to keep the variable rate equal to, o...