Marsden Building Society has released a new issue of its competitive two-year fixed rate ISA, which has subsequently maintained its standing in the Moneyfacts charts.
Fixed Rate Cash ISA (Issue 48) pays an attractive rate of 2.00% on balances from £5,000 up to £35,000 until 30.11.17, while balances above this amount will earn an even greater yearly rate of 2.05%.
The finer details…
This account can be opened in branch, by post and by phone and then managed by post or phone. An initial investment of at least £5,000 is required, although as further additions won't be allowed, a larger investment will be needed to achieve the higher interest rate.
Despite no additions being accepted into this ISA, it is possible to transfer in existing cash ISAs. Withdrawals are also not permitted, but savers can access their funds early by agreeing to close the account and forgo 270 days' interest, the same penalty as applies to transfers away.
Why we like it…
Savers looking for a short-term home for their savings are likely to continue to view this deal with interest thanks to its attractive rate, particularly those with a larger savings pot. The flexibility of being able to transfer in existing ISA savings and the ability to access funds early, albeit upon closure and an interest penalty, add some extra shine and ensure its continued presence on the charts.
Moneyfacts rating: Excellent
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