Marketing gimmicks at their best

05th March 2012
Today sees the launch of Santander’s cracking new ISAs, all paying marketing leading rates. The first is a clear publicity stunt with its Major ISA which pays 4%, fixed for 2 years, and offering an additional 0.10% bonus should Rory McIlroy win a gold “major”. It also offers a 1 year fixed rate ISA paying 3.50% and a new issue of its Direct ISA, issue 9, paying 3.30% AER. No surprise really that Santander is aggressively pricing its ISAs as it doesn’t like to be outdone when it comes to its product range. You’ll often see Santander in the best buy tables for current accounts, mortgages and savings as it continues to push forward on its quest for financial world domination. I digress. The key however is that all these products allow transfers in from previous ISA subscriptions, which is a growing trend this season (ISA season that is). And it’s encouraging. As savers could have amassed around £57,000 each in cash ISAs since commencement in 1999, nothing to be sniffed at, it’s great news that savers can benefit for the best rates available.

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