Halifax has sprung a new 18-month fixed rate ISA onto the market, enabling it to steal a place on the Moneyfacts charts for its attractive terms.
18 Month ISA Saver Fixed pays 1.60% yearly (1.59% monthly), which allows it to rest comfortably among the top 10 accounts of its sector.
This account can be opened and operated in branch, by phone and online with a minimum investment of just £500.
Further additions can be made for the first 60 days after the account opens while transfers in of existing cash and stocks & shares ISAs are welcome. Withdrawals are not allowed, although it is possible to access funds early upon closure of the account and the loss of 135 days' interest. This penalty also applies to transfers away.
This newcomer to the fixed rate ISA market is an appealing one, boasting an attractive rate and some welcome additional flexibility. The option to add funds and the possibility of accessing funds prior to maturity are all definite bonuses, although savers must bear in mind that doing so will result in a hefty 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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.