Product focus: Short term fixed rate ISAs - Savings - News - Moneyfacts

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Product focus: Short term fixed rate ISAs

Product focus: Short term fixed rate ISAs

Category: Savings

Updated: 18/09/2009
First Published: 18/09/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

By allowing savers to invest tax-free, ISAs remain many savers' first port of call when looking to invest their money. The best ISA rates can be found when savers lock their money away for between four or five years, but most savers are only prepared to commit funds for shorter terms. Here are some of the best deals for just a one year commitment.

Bank of Cyprus UK – Cash ISA Bond 2nd Issue

Bank of Cyprus UK is offering the market leading rate for a one year ISA paying 3.33pc on its Cash ISA Bond. Savers can currently invest up to £43,200 into the bond, which is operated in branch, by post or telephone. The account accepts transfers in and will permit savers aged 50 years and over to invest the additional allowance from October. Access to funds is available on closure only during the term, subject to a loss of 180 days' interest.

Julian Hodge Bank – 1 Year Fixed ISA

Savers investing between £3,600 and £43,200 with Julian Hodge Bank are being offered a rate of 3.25pc on its 1 Year fixed ISA, which will allow the additional allowance for over 50s from October. The account is operated by post and permits transfers in from other providers. Earlier access during the term is available on closure only, subject to a penalty.

Nationwide Building Society – 1 Year Fixed Rate ISA Bond

Nationwide Building Society is paying a fixed rate of 3.00pc on its 1 Year Fixed Rate ISA Bond. Savers looking for a more regular income can opt for monthly interest at a slightly lower rate of 2.95pc. The account accepts transfers in and savers can invest up to £43,200. The account will not allow savers to invest the additional allowance from October, but savers will be allowed to open another fixed rate ISA with Nationwide Building Society for the additional money. Access to money during the term is available on closure only, subject to a loss of 90 days' interest.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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