The birth of the ISA: Loose Change
Saturday 10 April 1999
NEWTON FUND Managers is launching a maxi and mini ISA offering a 2 per cent initial charge discount on investments for lump sum investors, which runs until 17 June. Details from 0800 614330 or call 0117 971 1177 for an independent adviser.
NORWICH AND Peterborough Building Society is launching a cash ISA for existing and new customers, paying 6.75 per cent variable rate of interest (guaranteed to be equal to UK base rates until April 2001). Minimum investment for existing customers is pounds 1,000 or pounds 3,000 for new ones. Also available is a Tessa-only ISA, for maturing Tessas. Again, the rate paid is 6.75 per cent, with a minimum investment of pounds 100 for existing clients and pounds 1,000 for new ones (01733 362636).
NATIONWIDE IS offering a cash ISA, the Members' ISA Bond, which pays 6.5 per cent on balances of pounds 1 or more for existing members of the society. They guarantee to pay at least 1 per cent above base rates until 5 April 2001. Details from any Nationwide branch.
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