Coventry Building Society has reduced the rate paid on its four-year fixed rate ISA, but despite this it has retained its competitive edge and kept a prized place in the Moneyfacts charts.
The four-year Fixed Rate ISA (27) now pays a yearly rate of 2.10% to 31.05.19, which allows it to remain among the top 10 accounts of its sector.
This account can be opened and operated in branch, by phone, online and by post with a minimum investment of just £1.
Further additions are welcomed for up to 14 days after the account has been opened or while the issue remains open, whichever is longer. Transfers in of previous tax years' ISA savings are not permitted, but those of the 2015/16 tax year are.
Like many fixed rate deals, withdrawals are not allowed, although it is possible to access funds prior to maturity by closing the account and forgoing 120 days' interest. The same penalty applies to transfers out.
This account may have had a slight rate reduction, but it is still a strong competitor in its sector and retains a chart place. The fact that further additions are permitted, albeit for a limited period, is appealing, as is the option to access funds early provided the saver is happy to close the account and lose 120 days' interest.
Moneyfacts rating: Excellent
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