Yorkshire Bank has re-entered the short term cash ISA market.
The Cash ISA – Fixed Rate Bond pays a rate of 2.75% on a minimum investment of £2K.
No further additions are permitted, while earlier closure and transfers out are subject to a penalty (minimum £30).
Early closure or transfers out made from one-91 days to maturity incurs a 45 day loss of interest, 92-181 days to maturity a 90 day loss of interest, 182-273 days to maturity a 135 day loss of interest, and more than 273 days to maturity a 180 day loss of interest.
Transfers in are permitted, and the account is available until 29.10.10.
The product sits within the top ten in the short term market and should prove attractive to clients who prefer to deal with a branch.
Whilst higher rates are available these are for the longer term so it should still prove popular with clients looking for a short term home for their ISA allowance.
This product is also available from Clydesdale Bank.
Four out of five Moneyfacts stars have been awarded.
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