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Bank of Baroda to enter Isa market

Bank of Baroda, the Indian international bank, is to launch its first Isas later this year, This is Money has reported.

The bank is pursuing an ambitious overseas expansion plan and says it is in the process of identifying/opening more overseas centers to serve its 36 million global customers.

In the UK it already has a strong presence in the fixed-rate bonds market and is currently topping moneysupermarket.com’s best buy tables with its Baroda MAX five-year fixed-rate bond at 4.9%.

Future competition in the Isa market could come from Halifax and Bank of Scotland, which are offering the UK’s most attractive fixed-rate Isa savers, at 4.25% over four years, again according to moneysupermarket.com.

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