Fixed Rate ISAs keep chart positions | Product News - Moneyfacts

Product News

Fixed Rate ISAs keep chart positions

Fixed Rate ISAs keep chart positions

Category: ISAs
Date: 07/04/2015

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 It is now over 6 months old so the content may be out of date.

Post Office Money's one and two-year fixed rate ISAs have held on to their chart positions after selected savings accounts were amended by up to 0.20%.


The basics…

Online ISA – 1 Year Fixed Rate Issue 2 now pays 1.61% yearly, allowing it to remain among the top-10 in its sector. Meanwhile, its two-year counterpart (also a second issue) pays a competitive 1.81% yearly, which also enables it to sit comfortably in the Moneyfacts charts.


The finer details…

Both accounts must be opened and operated online with an initial deposit of £500. Savers should note that interest must be compounded and that a Holding Account will automatically be opened.

While no additions are permitted, it is possible to transfer in existing ISA savings. Early access is also possible upon closure of the account and the loss of 90 days' interest for the one-year account and 180 days' loss for the two-year. The same penalties apply to transfers out.


Why we like them…

Both of these ISAs have retained coveted top-10 places in the charts, which is sure to grab the attention of savers. The deal is sweetened by the fact that both accounts allow transfers in and have the option to access funds prior to maturity, although this will result in closure of the accounts and a loss of 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close