2-yr fixed rate ISA holds onto chart position | Product News - Moneyfacts

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2-yr fixed rate ISA holds onto chart position

2-yr fixed rate ISA holds onto chart position

Category: Savings
Date: 19/12/2014

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 It is now over 6 months old so the content may be out of date.

AA has made a slight reduction to its two-year fixed rate ISA, but it has maintained its competitive edge and kept a place among the top 10 accounts of its sector.

The basics…

Two Year Fixed Rate ISA now has a rate of 1.75% yearly, which allows it to retain a coveted place in the Moneyfacts charts.

The finer details…

This account can be opened by post and online with an initial investment of just £1. It must then be managed by post.

While no further additions are allowed, it is possible to transfer in other cash and stocks & shares ISAs. Early access is also possible, although this will result in a loss of interest penalty, the size of which depends on the length of the remaining term. One year or less will result in a 90-day loss of interest, but if there is up to two years remaining, a larger penalty of 180 days' loss of interest will be applied. Transfers out will incur the same penalty.

Why we like it…

Despite the reduction, this ISA still has a strong competitive spirit. The rate is still an attractive one and the option to transfer in existing ISAs as well as have early access to funds, albeit with a penalty, adds extra appeal.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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