60-day notice ISA for locals is ‘excellent’ | Product News - Moneyfacts

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60-day notice ISA for locals is ‘excellent’

60-day notice ISA for locals is ‘excellent’

Category: ISAs
Date: 26/04/2016

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 It is now over 6 months old so the content may be out of date.

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.

The basics…

60 Day Notice Cash ISA now pays an attractive yearly rate of 1.50% variable.

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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