Melton Mowbray Building Society has reduced the rate paid on its 60-day notice ISA for locals or existing members by 0.10%. Despite this, it remains a competitive offering and has therefore secured itself an 'excellent' rating.
60 Day Notice Cash ISA now pays an attractive yearly rate of 1.50% variable.
This ISA can be opened and operated in branch and by post with a minimum investment of just £25. It is only available to savers living in Leicestershire, Nottinghamshire, Lincolnshire or Rutland, or to those who have been members of the society for at least five years.
Further additions are welcome at any time but savers cannot transfer in existing ISAs. An unlimited number of penalty-free withdrawals are also permitted, provided the 60-day notice period is abided by, but savers do have the option to forgo this and access funds early upon the loss of 60 days' interest. Transfers away from this account can be made on 60 days' notice or the loss of 60 days' interest.
Locals and existing members will continue to find this an attractive offering thanks to its eye-catching rate. The flexibility of being able to make unlimited withdrawals and add funds at any time gives this deal some extra appeal, as does the option to bypass the notice period and access funds early, although this will result in an interest penalty.
Moneyfacts rating: Excellent
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