New 5-yr ISA stakes a claim to chart place | Product News - Moneyfacts

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New 5-yr ISA stakes a claim to chart place

New 5-yr ISA stakes a claim to chart place

Category: ISAs
Date: 06/04/2016

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 It is now over 6 months old so the content may be out of date.

Nationwide Building Society has planted a new five-year fixed ISA into the market, immediately earning it a place in the charts thanks to its eye-catching rate and terms.

The basics…

5 Year Fixed Rate ISA pays an attractive 2.00% yearly (1.98% monthly), enabling it to steal a place among the top 10 accounts of its sector.

The finer details…

This account can be opened and operated in branch, online and via mobile app with a minimum investment of just £1.

Although further additions are not allowed, savers are permitted to transfer in existing ISAs. It is also possible to access funds early, although this is dependent upon closure of the account in branch and a hefty interest penalty of 365 days' interest, the same penalty as applies to transfers away.

Why we like it…

This newcomer has garnered attention thanks to its attractive rate and monthly interest option, which will appeal to those who are looking to secure a regular income. Its position is further strengthened by the fact that it also allows early closure, although savers will have to weigh this up against the 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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