Skipton Building Society has amended its range of fixed savings products by up to 0.22%. One of the deals to benefit was its five-year fixed ISA, which has solidified its place in the Moneyfacts charts as a result.
5 Year Fixed Rate ISA now pays 2.30% yearly (2.28% monthly), which allows it to move further up the top 10 for its sector.
This account can be opened and operated in branch, by post and online with a minimum deposit of £500.
Further additions and transfers in are welcomed while the issue remains open, and it is also possible to access funds early. However, this will result in closure of the account and the loss of 365 days' interest, a penalty that will also apply to transfers away.
The movement of this account into the charts is something that is bound to be noticed by savers on the hunt for a competitive five-year ISA. The flexible options of monthly interest, further additions and early access make this deal an appealing choice, although savers must be aware that making a withdrawal before maturity will lead to closure of the account and a hefty interest penalty.
Moneyfacts rating: Excellent
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