The Post Office has re-entered the short term savings arena with the launch of a new one year cash ISA.
The 1 Year Fixed Rate Cash ISA Issue 3 pays 2.65% on maturity on a minimum investment of £500. Earlier access is permitted on closure, although investors will incur a 90 days' loss of interest penalty.
No further additions are permitted but transfers in are accepted, as are transfers out, although the latter is also subject to a 90 days' loss of interest penalty.
The account is operated by the Bank of Ireland.
At 2.65%, this account sits amongst the leaders in the short term fixed Cash ISA market and it should prove popular.
Four out of five Moneyfacts stars are well deserved.
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