1 & 2-yr ISAs enter the charts | Product News - Moneyfacts

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1 & 2-yr ISAs enter the charts

1 & 2-yr ISAs enter the charts

Category: ISAs
Date: 05/05/2015

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 It is now over 6 months old so the content may be out of date.

Skipton Building Society has increased selected savings rates by up to 0.20%. Two of the deals to enjoy this rate boost are the one and two-year fixed ISAs, which have moved into competitive top-10 positions in the Moneyfacts charts as a result.

The basics…

1 Year Fixed Rate ISA now pays a competitive rate of 1.62% yearly (1.61% monthly), which allows it to sit comfortably in the charts. Its two-year counterpart pays a top-10 rate of 1.80% yearly (1.79% monthly).

The finer details…

Both accounts can be opened and operated in branch, by post and online, although further additions can also be made by phone. A minimum deposit of £500 is required.

Additional deposits can be made while the issues remain open and transfers in are accepted for up to 30 days after the issues have closed. Early access is possible, but this will result in closure of the accounts and the loss of 180 days' interest. Transfers away will also incur this penalty.

Why we like them…

Both of these ISAs offer competitive rates, as well as attractive monthly interest alternatives, which are sure to interest savers wanting a regular income. The fact that further additions can be made and that early access prior to maturity is also offered, albeit upon closure and an interest penalty, adds to the flexibility of these ISAs and boosts their competitiveness in their respective sectors.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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