Julian Hodge Bank has reduced the rate paid on its one and two-year fixed ISAs, but despite this, both have retained their competitive edge and kept their places in the Moneyfacts charts.
1 Year Fixed ISA now pays 1.60% yearly while its two-year counterpart pays a yearly rate of 1.85%, enabling both to stay among the top 10 accounts of their respective sectors.
Both of these accounts can be opened and operated in branch, by post and by phone with a minimum investment of £5,000.
Although additional deposits are not allowed, it is possible to transfer in existing cash and stocks & share ISAs, provided a minimum of £5,000 is transferred. It is also possible to access funds early, albeit upon closure of the accounts and the payment of a penalty. Transfers away will also incur these penalties.
The competitiveness of these ISAs has been maintained in spite of the recent rate reductions, enabling both to keep eye-catching positions in the charts. The fact that they allow transfers in and early access, albeit upon payment of a penalty and closure of the accounts, gives savers some additional flexibility, which will help to maintain interest from those seeking a decent return.
Moneyfacts rating: Excellent
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