Coventry Building Society has announced the launch of a new online ‘Easy Access’ ISA.

The society revealed its new ISA will pay a tax-free rate of 1.25% per annum, that the new account can only be opened and managed online, and added that its ISA will allow transfers in of previous, current and future years’ ISA funds.

“With just over a month until the end of the current tax year, it’s a case of use it or lose it for your ISA allowance,” Coventry Building Society head of mortgages and savings, Matthew Carter, commented. “If you’ve got money in a savings account that isn’t an ISA, you could be missing out on tax breaks now and in the future.

“Our competitive Easy Access ISA is a great option for savers looking for flexibility, with no notice periods or charges for making a withdrawal or closing the account and a minimum balance of just £1. The account also allows transfers in of previous, current and future years’ ISA savings, so you can continue to get a competitive rate when the new tax year begins on 6 April.”

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