2-yr fixed rate ISA holds its own in charts | Product News - Moneyfacts

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2-yr fixed rate ISA holds its own in charts

2-yr fixed rate ISA holds its own in charts

Category: Savings
Date: 16/01/2015

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 It is now over 6 months old so the content may be out of date.

Coventry Building Society has reduced the rates of selected savings products, but its two-year fixed rate ISA remains a contender in the Moneyfacts charts, earning a four-star review as a result.

The basics…

The two-year Fixed Rate ISA (25) now has a competitive rate of 2.25% yearly until 30.11.18, allowing it to keep its coveted place among the top 10 of its sector.

The finer details…

This account can be conveniently opened and operated online, in branch, by post and by phone with a minimum investment of just £1.

Further additions are welcome for up to seven days after the initial investment or while the issue remains open, whichever is longer. However, transfers in of previous years' ISAs are not permitted, so this account is only suitable for savings from this year's allowance.

While early access is not permitted, it is possible to close the account prior to maturity, albeit on the loss of 120 days' interest. Transfers away from this account will also incur the same penalty.

Why we like it…

This deal remains a contender in the charts despite the small rate reduction. The rate remains competitive and the low level of investment required, along with the flexibility of further additions and early closure, ensure that this ISA is likely to remain popular among eager savers.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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