5-yr ISA gets a welcome rate boost | Product News - Moneyfacts

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5-yr ISA gets a welcome rate boost

5-yr ISA gets a welcome rate boost

Category: ISAs
Date: 01/07/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Coventry Building Society has increased the rate of its five-year fixed ISA by 0.10%, enabling it to take a place just behind the current market-leader of its sector.

The basics…

The five-year version of Fixed Rate ISA (3) now pays 2.40% yearly until 31.5.20, allowing it to take a position near the very top of the Moneyfacts charts.

The finer details…

This account can be opened and operated online, by phone, by post and in branch with a minimum investment of just £1.

Further additions can be made at any time and transfers in of existing ISAs are also permitted during the first 14 days of the account opening or while the issue remains open, whichever is longer. It is also possible to access funds early, although this will result in closure of the account and the loss of 120 days' interest, the same penalty as applies for transfers out.

Why we like it…

This ISA certainly boasts an attractive rate, something that is sure to make it stand out in the market. The fact that it is also highly flexible, allowing further additions, transfers in and even early access (albeit upon closure and an interest penalty) widens its appeal even further.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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