New fixed rate ISAs storm the charts | Product News - Moneyfacts

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New fixed rate ISAs storm the charts

New fixed rate ISAs storm the charts

Category: ISAs
Date: 27/08/2015

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 It is now over 6 months old so the content may be out of date.

United Bank UK has taken the Moneyfacts charts by storm with the release of three new fixed rate ISAs, all of which have secured coveted places among the top 10 accounts of their respective sectors.

The basics…

2 Year Fixed Rate Cash NISA pays a competitive 1.95% yearly (1.93% monthly, 1.97% on maturity), while its three-year counterpart pays 2.30% yearly (2.28% monthly, 2.28% quarterly, 2.35% on maturity) and the five-year version pays a yearly rate of 2.55% (2.52% monthly, 2.53% quarterly, 2.68% on maturity), allowing all three to enter the charts.

The finer details…

These ISAs can be opened and operated in branch and by post with a minimum investment of £2,000.

Although further additions are not permitted, it is possible to transfer in existing cash ISAs. Withdrawals are also not allowed, but savers can transfer funds to another ISA after paying a penalty.

Why we like them…

Savers looking for competitive ISAs that offer a range of options on when interest is paid are likely to welcome these newcomers. However, the lack of early access and the penalty imposed on transfers away from these accounts does mean that they will best suit those who are happy to lock their money away until their chosen ISA matures.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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