Bank of Cyprus UK has increased the rate on its one-year cash ISA by 0.05%. As a result, this deal has moved up to second place in the Best Buy chart for its sector, earning it a high rating.
The one-year Fixed Rate Cash ISA now boasts a fixed rate of 1.10%, paid on its anniversary, which sees it sit just behind the market-leader for its term.
The account requires a minimum investment of £500. It allows transfers in from other ISAs, while additions are permitted with a variable rate paid. Earlier access is subject to closure of the account and a 180-day loss of interest penalty, with the same interest penalty applying to transfers out. The account can only be opened online, but then managed in branch, over the phone and by post as well.
This deal's highly competitive rate has deservedly earned it a high rating as well as the number two spot in the Best Buys.
Moneyfacts rating: Excellent
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