Bank of Cyprus UK has launched into the cash ISA market with a fixed rate product to set pulses racing. On offer is a competitive rate of 3.20%, payable on maturity at 5 April 2010 on a minimum investment of £1. Additional payments are welcome throughout this tax year (2008/09) and the next (2009/10), while transfers in of ISAs from previous tax years are accepted too. However, accessing your funds before the one year fixed term is up is only allowed through closure of the account. As it will see the loss of 180 days' interest to boot, it's best to be certain you want to commit your funds before investing. With the rate on offer amongst the best in the market, we've awarded this product four out of five Moneyfacts stars.
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