Mansfield Building Society is offering investors a monthly income option on its ISA, one of the few mutuals to do so.

The account pays a rate of 5.35 AER and 5.22 per cent gross. Interest can be paid to another account with Mansfield Building Society or transferred to a separate bank or giro account.

The product requires a minimum opening and operating balance of £3,000, with a maximum investment of £3,600 in each tax year, the upper limit for a cash ISA investment

Pete Doherty, product manager of Mansfield Building Society, says, ‘This is an ideal choice for savers who are looking to supplement their monthly income on a regular basis. The fact that the interest is paid free of UK income tax and capital gains tax makes it an even more attractive proposition.’

All withdrawals are subject to 30-days' notice and transfers from other cash ISA providers are accepted.

Contact: For more information call 01623 676300 or visit www.mansfieldbs.co.uk