Principality Building Society has increased the rates paid on selected savings accounts by up to 0.15%, enabling its 18-month and five-year fixed ISAs to shore up their positions in the Moneyfacts charts.
18 Month Fixed Rate Cash ISA Issue 149 now pays a competitive 1.40% yearly (1.39% monthly), while its five-year counterpart (Issue 151) pays 2.00% yearly (1.98% monthly), which allow both to sit comfortably among the top 10 accounts of their respective sectors.
Both of these accounts can be opened and operated in branch, by post and online with an initial investment of £500.
Transfers in are accepted and savers are also permitted to make additions for as long as the issues are open. Withdrawals are not allowed, but it is possible to close an account early upon the loss of 150 days' interest for the 18-month ISA and 360 days' interest for the five-year variant. These penalties will also apply for transfers away.
The rate increases to these ISAs mean that they hold solid places among the top accounts of their respective sectors – something that is bound to attract savers. The fact that they are also reasonably flexible in terms of transferring funds and accessing funds early (albeit upon closure and a penalty) also adds to their overall appeal.
Moneyfacts rating: Excellent
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