Yorkshire Bank has re-tiered and reduced the rates paid on its 40-day notice cash ISA; however, it has retained its competitive spirit and remains in the Moneyfacts charts as a result.
Cash ISA – 40 Day Notice pays a variable rate of 1.00% yearly upon the minimum investment of £500, which rises to a competitive 1.50% at £15,000 and 1.75% at £30,000, enabling it to remain a contender in the charts.
A minimum investment of £500 is required to open this account, although a smaller investment of just £10 is permitted if savers are planning to make regular monthly contributions. Savers should also note that a larger investment will be needed to achieve the higher interest rates. The account can be opened in branch, by post or by phone, before becoming branch and postal-operated.
Unlimited additions are allowed into this account, although transfers in are not accepted. An unlimited number of withdrawals are also permitted, subject to the 40-day notice period, although savers do have the option to forgo this and access funds early upon the loss of 40 days' interest. The same conditions apply to transfers out.
This account is also available through branches of Clydesdale Bank, which has also secured a place in the charts for its account.
Savers with at least £15,000 to invest will be able to benefit from a top-10 rate as well as a flexible account that allows unlimited additions and withdrawals. The fact that it also permits early access, albeit upon a loss of interest, is also an appealing option and assures this account's continued place in the charts.
Moneyfacts rating: Excellent
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