Principality Building Society has made a slight reduction to its five-year fixed rate cash ISA. Nevertheless, the ISA has kept its competitive edge and retained a position among the top five for its sector.
5 Year Fixed Rate Cash ISA Issue 132 (Standard) now pays a competitive rate of 2.50% per annum.
This account needs a minimum investment of just £500 and it can be opened and managed online, in branch or by post. Transfers in of previous years' cash and stocks & shares ISAs are welcomed and further additions are permitted while the issue is still open.
While withdrawals cannot be made, early access can be achieved through closure of the account and the loss of 360 days' interest. This penalty also applies to transfers out of the account.
Despite the dip in rate, this ISA is still an eye-catching product. The competitive rate, the flexibility of further additions and the ability to access funds early, albeit with a hefty penalty, give this account plenty of appeal, which is bound to attract the notice of investors.
Four Moneyfacts Stars have been awarded.
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