Principality Building Society has reduced the rate paid on its two-year fixed rate ISA, but despite this, it has retained a desirable place on the Moneyfacts charts thanks to its continuing competitiveness.
2 Year Fixed Rate Cash ISA Issue 144 now pays a competitive rate of 1.85% yearly, a top-10 rate for its sector.
This account can be opened and operated in branch, by post and online with a minimum investment of £500.
Additional deposits can be made while the issue remains open and transfers in of existing cash and stocks & shares ISAs are permitted. It is also possible to access funds early by closing the account and forgoing 180 days' interest, the same penalty as applies to transfers away from the account.
Savers are likely to continue to favour this deal, despite its recent rate reduction, as it still pays a top-10 rate for its sector. It also offers a surprising amount of flexibility for a fixed rate deal by allowing savers to transfer in existing funds and make further additions. The fact that it allows early access, albeit upon closure and an interest penalty, is also an appealing feature.
Moneyfacts rating: Excellent
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