2-yr fixed ISA gets a welcome rate boost | Product News - Moneyfacts

Product News

2-yr fixed ISA gets a welcome rate boost

2-yr fixed ISA gets a welcome rate boost

Category: ISAs
Date: 25/08/2015

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 It is now over 6 months old so the content may be out of date.

Marsden Building Society has increased selected fixed rate ISAs by up to 0.30%, allowing its two-year deal to secure a prized position in the Moneyfacts charts.

The basics…

The two-year version of Fixed Rate ISA (Issue 47) now pays a competitive tiered rate of 2.00% up to 2.05% (rates depend on the amount invested) until 31.10.17, enabling it to hold a comfortable place among the top 10 accounts of its sector.

The finer details…

This account can be opened in branch, by post or by phone before becoming post or phone-operated. A minimum investment of £5,000 is required, but a higher investment of £35,000 is needed to achieve the higher rate.

Additional deposits are not permitted, but it is possible to transfer in existing cash ISAs. Withdrawals are also not allowed, but savers can close the account early upon the loss of 270 days' interest, the same penalty as applies to transfers away.

Why we like it…

Savers' interest is likely to be picqued by this ISA's latest rate rise, which has cemented its position in the charts. The fact that it allows transfers in and early access also adds to its appeal, although savers must weigh up the cost of the hefty interest penalty and enforced closure of the account against making a withdrawal.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close