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Intelligent Finance launches ISA rate guarantee

13 January 2006
Intelligent Finance (IF) has guaranteed to pay customers at least Bank of England base rate on its mini-cash ISA until the end of this year.

According to a company release the mini-cash ISA is the only one in the marketplace to offer customers a guarantee of this nature through 2006.

The guarantee deal applies to all new and existing IF customers and according to IF managing director Nick Robinson, is good news for savers.

"Our guarantee has proved extremely popular with savers, which is why we are introducing a new one. We want people to know they can move to Intelligent Finance secure in the knowledge that we are serious about giving them long-term value for money," he said.

The bank also expects its rate guarantee will tempt other existing mini-cash ISA holders, who have seen their rates decrease over the last few years, to transfer to IF.

Currently, over 60 per cent of instant access mini-cash ISA providers pay below base rate.

Also, IF is the only bank that is allowing its customers to offset their ISA against their mortgage. For example a customer who uses their full £3,000 annual mini-cash ISA allowance would save £43,237.88 on a £100,000 mortgage, reducing the term of 25 years by three years and eight months.

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