Julian Hodge Bank has reduced the rate paid on its five-year fixed ISA, but despite this decrease, it has retained its prized place on the Moneyfacts charts.
5 Year Fixed Rate Cash ISA now pays 2.50% yearly, a rate that allows it to remain in a comfortable position among the top 10 accounts of its sector.
This account can be opened and operated in branch, by post and by phone with a minimum investment of £5,000.
Although further additions are not allowed, it is possible to transfer in existing ISA savings, provided they are of at least £5,000. Withdrawals are also not permitted, although savers do have the option of accessing funds early upon closure of the account and the payment of a penalty. A penalty charge will also apply to transfers away.
This ISA may have had a slight rate reduction, but this hasn't dented its overall competitiveness, enabling it to retain a prominent place on the charts. Savers looking for a competitive fixed rate ISA are therefore still likely to view it with interest, particularly because there is the option to access funds early, albeit upon closure of the account and a penalty charge.
Moneyfacts rating: Excellent
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