Bank of Ireland UK Expands Savings Range with launch of new Online Cash ISA

 

 

Bank of Ireland UK has launched a new Online Individual Savings Account (ISA), in partnership with OneFamily1, to help savers across Northern Ireland make the most of their personal savings allowance.

The Online ISA provides customers with both Easy Access as well as 1 and 2 Year Fixed Rate options, giving savers the ability to split their ISA savings across the range. The new Bank of Ireland UK Online ISA can also be opened by those seeking to transfer their existing ISAs.

George Higginson, Managing Director, Everyday Banking at Bank of Ireland UK said: “We want to help our customers to achieve their financial goals which is why we have launched an Online ISA to support healthy savings habits and reward customers when they save with us.

“Across the UK there has been a significant increase in ISA savings, with higher interest rates encouraging savers to make use of their tax-free savings allowances. With the Bank of Ireland UK Online ISA, we are helping all savers to make the most of their savings opportunity.

“For those seeking to build up a rainy day fund, the Easy Access option provides customers with access to their funds should they need it, while Fixed Rate options offer a secure rate of return for those who don’t need access to their savings.

“We have helped generations of customers to save, and we’re committed to continuing to develop products and services to ensure we deliver on our purpose of enabling our customers, colleagues, shareholders and society to thrive.”

To open a Bank of Ireland UK Online ISA, savers need a minimum of £100 for Easy Access, which offers 4.1% tax-free2/AER3 variable, including a fixed 2.75% bonus for the first 12 months. After 12 months this drops to 1.35% tax-free2/AER3 variable. Fixed Term options require a minimum deposit of £500, with the 1 Year Fixed Term offering 4.00% tax-free2/AER3 fixed and the 2 Year Fixed Rate offering 3.65% tax-free2/AER3 fixed.

Available to UK residents aged 18 or over, consumers can open an Online ISA as a new cash ISA for this tax year (6 April 2024 to 5 April 2025), or transfer funds in from an existing ISA.

For full details on eligibility and features, or to apply for a Bank of Ireland UK Online ISA, visit: www.bankofirelanduk.com/isa

1 The Online ISA is provided by OneFamily. Savings in this Online ISA are deposited with Bank of Ireland UK.
2 Tax-free means the interest paid will be free of UK Income Tax and Capital Gains Tax. The tax advantages of ISAs depend on your individual circumstances and the tax treatment of ISAs may change in the future.
3 AER stands for Annual Equivalent Rate – it shows that the interest would be if interest were paid and added to your account each year.