Principality Building Society has reduced the rates paid on its fixed ISAs by up to 0.25%; however, its competitive 18-month and five-year fixed deals have nevertheless remained in the charts thanks to their ongoing appeal.
18 Month Fixed Rate Cash ISA Issue 152 now pays a still-competitive rate of 1.30% on maturity (1.29% monthly), while its five-year counterpart (Issue 153) pays 1.75% yearly (1.74% monthly), enabling both to keep their top-10 places in their respective sectors.
These ISAs can be opened and operated in branch, by post and online with an initial investment of £500.
Savers are able to transfer in existing ISAs and make additional deposits while the issues remain open. However, withdrawals are not permitted, although it is possible to close the accounts early on the loss of 150 days' interest for the 18-month ISA and 360 days' interest for the five-year variant. The same penalties apply for transfers away.
These ISAs may have had their rates reduced but they remain competitive offerings. As a result, they have kept their chart places, which is sure to gain the attention of savers. The fact that they also offer a monthly interest option adds to their flexibility, as does the ability to close the accounts prior to maturity (subject to a penalty), which increases their appeal even further.
Moneyfacts rating: Excellent
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