Monmouthshire Building Society has unveiled a new ISA for its customers, which boasts a market-leading rate for its sector.
Members Loyalty ISA – Special Issue 13 offers an impressive savings rate of 2.90% per annum (2.80% monthly) until 30.09.18.
The account can be opened in branch with a minimum investment of £1,000. It can then be operated online, in branch or by post.
Investors can make further additions into the ISA until 31.10.14, which lends this account some flexibility. Transfers in are not allowed, unless the transfer is from an existing Monmouthshire BS cash ISA.
This ISA benefits from allowing early access, although this is subject to a penalty of 365 days' loss of interest. Transfers out of the account incur the same penalty.
The ISA is only available to those who have been members of the building society since 19.08.14.
For existing members of the building society, this ISA offering is likely to prove very attractive. It offers a market-leading rate and it also allows early access to funds, although this triggers quite a hefty penalty. However, for those hungry to invest, this ISA is bound to be an eye-catching offer.
Four Moneyfacts stars have been awarded.
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