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ISAs become market-leaders

ISAs become market-leaders

Category: ISAs
Date: 28/09/2015

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 It is now over 6 months old so the content may be out of date.

Mansfield Building Society has taken the savings market by storm after increasing the rate paid on its two-year fixed ISA by 0.35% and introducing a 60-day notice deal to its range. As a result, both accounts have become market-leaders in their respective sectors and earned an 'excellent' rating in the process.

The basics…

2 Year Fixed Rate Cash NISA Bond (2nd Issue) now pays a market-leading rate of 2.10% yearly, while the new 60 Day Notice Cash NISA (1st Issue) has entered its sector as a market-leader for its term, paying a variable rate of 1.55% yearly.

The finer details...

Both accounts can be opened and operated in branch and by post. Transfers in are not accepted, but it is possible to make further additions until 5.4.16.

The two-year fixed rate ISA requires an initial deposit of at least £500. Unusually, early access is possible, but this will result in closure of the account and the loss of 180 days' interest, a penalty that will also apply to transfers away.

The notice account needs a much smaller initial deposit of £1. An unlimited number of penalty-free withdrawals can be made, provided the 60-day notice period is observed, but early access is not possible. This notice period also applies to all transfers out of the account.

Why we like them…

Both of these accounts sit right at the top of their respective markets and pay highly attractive rates, something that is bound to catch the eye of eager savers. As a result, they both fully deserve their coveted places in the Moneyfacts charts.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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