Principality Building Society has reviewed its savings range and made some rate reductions. However, its five-year fixed rate ISA has fended off its rivals and maintained a place among the top 10 of the Moneyfacts charts.
5 Year Fixed Rate Cash ISA Issue 134 now has a competitive rate of 2.20% per annum, which keeps it among the market-leaders for its sector. Its three-year equivalent (issue 133) now has a yearly rate of 1.90%.
Principality BS's fixed rate bonds have also witnessed some rate changes. 3 Year Fixed Rate Bond 251 now pays 1.90% yearly (1.88% monthly) while its five-year counterpart (issue 252) now pays 2.20% per annum (2.18% per month).
All of these accounts can be opened and managed in branch, by post and online with a minimum investment of just £500.
Further additions can be made while the issues remain open but withdrawals are not allowed. However, early access to funds is possible upon closure of the account and the loss of 180 days' interest.
The ISAs accept transfers in of other cash and stocks & shares ISAs and transfers out are also permitted, although this will be subject to the 180-day loss of interest penalty.
The five-year ISA has proved its strength by retaining its place among the top 10 for its sector. The competitive rate will entice many eager savers while the ability to make further additions, access funds early and transfer in previous ISA savings will seal the deal.
Four Moneyfacts Stars have been awarded.
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