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Bank loan: UK building society to withdraw inflation-beating Isa

A UK building society is set to withdraw its inflation-beating Isa after just ten days, it has been revealed.
National Counties Building Society has confirmed that it has had to stop selling the accounts due to overwhelming demand, reports thisismoney.co.uk.

Only a limited number of the products could be sold and the firm filled its quota "quicker than we thought".

The product was launched on August 16th and National Counties had intended to give savers until September 30th to complete their application.

A spokesperson for National Counties told the news provider: "If you want to open the Isa, you must apply online or request an application form by 5pm today. We will not be accepting any applications after that point."

The institution had been offering its customers the chance to earn 5.8 per cent with its five-year Isa that paid one per cent plus the retail price index in September each year.

Halifax is offering the next best savings rate after tax is 4.25 per cent with its four-year fixed Isa.

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt managementADNFCR-2776-ID-800042458-ADNFCR



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