Egg launches 2.5% ISA

Online savings provider Egg has launched a new individual savings account (ISA) paying interest at 2.50%.

Minimum investment is £1, whilst the maximum is the tax-free savings limit of £3,600.

Savings from existing ISAs cannot be transferred into the account.

Egg’s ISA can be set up over the internet ‘in minutes’, and customers can keep track of their money using Egg’s internet and telephone banking services.

Dean Proctor, Egg’s head of savings and investments, said: “With the new tax year now only weeks away, people should be looking for ways to make the most out of their savings.

“Our new cash ISA offers an attractive rate of interest with no catches and is quick and easy for people to open and manage online.”

He added that with interest rates at an all-time low, it is more important that ever for Brits to make the most of their savings.

Recent research by Egg found that customers rank ‘ease of access’ as one of the most important features for savings accounts.

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