Northern Rock has increased the rate paid on its five year fixed rate cash ISA, making it the market leader in its field.
Issue 161 of the Fixed Rate Cash ISA matures on 15 April 2016 and pays a yearly rate of 4.50% on a minimum investment of £500.
Withdrawals and transfers out are permitted on a 180 day loss of interest, while further additions are allowed up to 30 days after the issue is closed. Transfers in are also permitted.
There is a minimum level of £250 for withdrawals or further additions.
On maturity the accounts converts to a 30 Day ISA with instant access permitted for 30 days.
The increase in the rate of 0.20% for the longer term bond has sharpened its competitive edge, elevating it to the top of the selection tables when compared to other products of a similar term.
Four out of five Moneyfacts star have been awarded.
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