1-yr fixed ISA moves just behind market-leader | Product News - Moneyfacts

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1-yr fixed ISA moves just behind market-leader

1-yr fixed ISA moves just behind market-leader

Category: ISAs
Date: 09/09/2015

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 It is now over 6 months old so the content may be out of date.

Shawbrook Bank has increased the rate paid on its one-year ISA by 0.10%, allowing it to move just behind the current market-leader of its sector.

The basics…

1 Year Fixed Rate Cash ISA Bond Issue 8 now pays a highly competitive rate of 1.85% on maturity (1.83% monthly), which allows it to sit comfortably near the top of the Moneyfacts charts.

The finer details…

This account must be opened and operated online with an initial deposit of at least £5,000.

Further additions can be made while the issue remains open, and transfers in from existing ISAs are also welcomed. Withdrawals are not permitted, but it is possible to access funds early upon the loss of 90 days' interest, the same penalty as applies to transfers away.

Why we like it…

The rate hike to this ISA has boosted its competitiveness and allowed it to move up the charts to sit just behind the current leader of its sector. Savers are likely to be drawn by its additional flexibilities: additions and transfers in are allowed (albeit for a limited period) and it is also possible to access funds early, although this will result in an interest penalty.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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