Stroud & Swindon Launch a New Range of ISAs

Stroud & Swindon, the UK’s 15th largest Building Society, is today launching two new ISAs, a 30 Day Notice ISA and a Limited Issue Fixed Rate ISA. They offer a great incentive for customers to make the most of their annual tax free allowance and will complement the existing Cash Mini ISA with its tiered interest rates.

The 30-Day Notice ISA is available as a direct or branch ISA and offers a rate of 5.75%, which includes a 0.70% bonus for the first year the account is opened.  The product is available as a Branch 30 Day Notice ISA or a Direct 30 Day Notice ISA:

• The Direct 30 Day Notice ISA requires a minimum investment of £100 and is available via phone (0845 7045 012), website and post. 
• The Branch 30 Day Notice ISA is available with a minimum investment of £1 from any Stroud & Swindon branch or agency as well as via phone and the Stroud & Swindon website. 

The Limited Issue Fixed Rate ISA offers a rate of 5.90% Gross/AER until 5 April 2008.  This involves investing a single premium of £3,000 a year.  Withdrawals from the account are permitted, subject to a 90-day gross interest charge and this limited offer product is available from all Stroud & Swindon branches, agencies and via post.

Paul Chafer, Sales and Marketing Director at Stroud & Swindon comments: “We are delighted to be offering these new ISA products which will complement our existing tiered rate cash mini ISA and provide customers with a comprehensive choice.  We hope to encourage customers to invest their savings at the beginning of the tax year to make the most of their annual tax free allowance.  These products offer great rates and cater for everyone; from those wanting to invest as little as £1 up to customers who are able to put away a £3,000 lump sum!”

To locate your closest branch visit www.stroudandswindon.co.uk or call 0800 618161

- ENDS –

For further information please contact:

Paul Chafer
Sales and Marketing Director
Stroud & Swindon
01453 768407

Lee Blackwell / Brian Thorn / Karen Butcher
The Wriglesworth Consultancy
020 7845 7900

Notes to Editors:

Direct 30 Day Notice ISA: 

• Interest on the account is £5.75% AER for the first year (including a 0.70% bonus for the first year the account is opened.  For the following years the interest rate is 5.05% AER.
• Available by phone (0845 7045 012) the website (www.stroudandswindon.co.uk), and by post (Stroud and Swindon Direct, Freepost, PO Box 148, Stroud, Gloucestershire, GL5 3YL)
• ISAs must be opened by someone who is 16 or over and resident in the UK.
• Minimum (£100) and maximum (£3,000 annually) investments apply.
• Interest on the account is calculated daily and paid annually at midnight on 1 April.
• Withdrawals are subject to 30 days notice, or will be subject to a 30 day gross interest penalty charge.
• ISAs cannot be held in joint names.
• Stroud & Swindon does not allow transfers in from other providers

Branch 30 Day Notice ISA:

• Interest on the account is £5.75% AER for the first year (including a 0.70% bonus for the first year the account is opened.  For the following years the interest rate is 5.05% AER variable.
• Available from Stroud & Swindon branches and agencies, by phone (0845 7045 012) and the website (www.stroudandswindon.co.uk).
• ISAs must be opened by someone who is 16 or over and resident in the UK.
• Minimum investment (£1) and maximum investment (£3,000 annually) apply.
• Interest on the account is calculated daily and paid annually at midnight on 1 April.
• Withdrawals are subject to 30 days notice, or will be subject to a 30 day gross interest penalty charge.
• ISAs cannot be held in joint names.
• Stroud & Swindon does not allow transfers in from other providers

Limited Edition Fixed Rate ISA at 5.90%

• The interest rate is fixed until 5 April 2008, at 5.90% gross AER.  Customers will be notified in writing before the end of the tax year about the rate for the following tax year.
• If customers do not contact Stroud & Swindon the account will automatically roll over to the new rate on 6 April 2008
• Customers may only invest one lump sum of £3,000 per annum.
• ISAs must be opened by someone who is 16 or over and resident in the UK.
• Interest on the account is calculated daily and paid annually at midnight on 1 April.
• Withdrawals from the account are permitted but are subject to a 90-day interest charge.  Penalty charges are not incurred if the investment is withdrawn between 1 March and 5 April 2008 on the Fixed Rate ISA.
• ISAs cannot be held in joint names.
• Stroud & Swindon does not allow transfers in from other providers

Direct Cash Mini ISA:

• Gross / AER rates are tiered depending on the amount invested in the account and range from 4.65% for balances from (£100 - £2,999) up to a rate of 5.55% on balances of £27,000 or more. 
• Available by phone (0845 7045 012) the website (www.stroudandswindon.co.uk), and by post (Stroud and Swindon Direct, Freepost, PO Box 148, Stroud, Gloucestershire, GL5 3YL)
• ISAs must be opened by someone who is 16 or over and resident in the UK.
• Minimum (£100) and maximum (£3,000 annually) investments apply.
• Interest on the account is calculated daily and paid annually at midnight on 1 April.
• No penalties apply for withdrawals.
• ISAs cannot be held in joint names.
• Stroud & Swindon does not allow transfers in from other providers

Branch Cash Mini ISA:

• Gross / AER rates are tiered depending on the amount invested in the account and range from 4.65% for balances from (£100 - £2,999) up to a rate of 5.55% on balances of £27,000 or more.
• Available from Stroud & Swindon branches and agencies, by phone (0845 7045 012) and the website (www.stroudandswindon.co.uk).
  ISAs must be opened by someone who is 16 or over and resident in the UK.
• Minimum investment (£1) and maximum investment (£3,000 annually) apply.
• Interest on the account is calculated daily and paid annually at midnight on 1 April.
• No penalties apply for withdrawals.
• ISAs cannot be held in joint names.
• Stroud & Swindon does not allow transfers in from other providers