04/08/2021 | Press release | Distributed by Public on 04/08/2021 06:00
Paragon Bank has launched a new Limited Edition Easy Access ISA, which is paying a rate of 0.41%, in order to expand the range of competitive cash ISA options available to savers for the new tax year.
The award-winning provider is launching the new cash ISA product from Friday 9 April 2021. The account is offering a variable rate and is available to open and manage online.
Paragon is also launching a Limited Edition Easy Access account, which is a non-ISA product, at the same rate of 0.41%. Savers can make unlimited withdrawals from both accounts, which means they are a good choice for people who want the flexibility of accessing funds if they need to.
The Limited Edition Easy Access ISA is also eligible for Paragon's ISA Flexibility and ISA Wallet features. These features were launched last year to help savers make the most of their tax-free savings allowance.
The ISA Wallet allows savers to spread their £20,000 annual ISA allowance with Paragon across multiple cash ISAs, rather than just open one specific account. Meanwhile, the Flexibility feature allows cash to be withdrawn and replaced from its access cash ISAs without savers using their tax-free entitlement and comes as an additional feature to Paragon's current access cash ISA products.
Derek Sprawling, Savings Director at Paragon Bank, said:
'We have launched our new Limited Edition Easy Access ISA at a best-buy rate in order to ensure that our product is the first one savers see when hunting for the best deal.
'We have a strong cash ISA proposition, which has been recognised by four industry awards in the last year alone. We want to be front-of-mind with people considering where to save their new ISA allowance.
'One of the benefits of our range is flexibility. Choosing one of our 'ISA Wallet' accounts gives savers the option to split their allowance across a number of our products, which is a great option for people wanting to use some of their ISA allowance as a 'rainy day' fund while locking the rest away in a fixed rate.
'We offer a broad range of saving products to suit all requirements that are straightforward to open and manage, and we will continue to look at ways we can innovate to offer great saving solutions for our customers.'
In recent months, Paragon Bank has picked up a range of industry awards for its ISA range, including the 'ISA Provider of the Year' prize at the Money Age Awards 2020, 'Best Cash ISA Provider' at the Savings Champion Awards 2021, 'ISA Provider of the Year' at the Your Money Awards 2021 and 'Best Easy Access Cash ISA Provider at the Money Comms awards 2021, as well as receiving 'Highly Commended' ISA Provider of the Year at the 2021 Moneyfacts Consumer Awards.
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