Julian Hodge Bank has reduced the rates of selected savings products but its five-year fixed rate ISA has kept up with its competitors and retained a position in the Moneyfacts charts.
5 Year Fixed ISA now pays a yearly rate of 2.20%, which sees it sit comfortably among the top 10 of its sector. Savers should note that interest must be compounded.
This account can be opened in branch and by post, before becoming postal-operated. An initial investment of at least £5,000 is required.
While no additions are permitted, it is possible to transfer in existing cash and stocks & shares ISAs provided a minimum transfer of £5,000 is made. It is also possible to access funds early, although this is subject to closure of the account and an interest penalty. This penalty also applies to transfers out.
Although this account has had a slight rate decrease, it is still a top-10 competitor with an attractive interest rate. Savers are also likely to welcome the flexibilities that accompany this deal, although early access will trigger closure of the account and an interest penalty.
Moneyfacts rating: Excellent
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