Coventry Building Society has launched a four-year fixed rate ISA for the new tax year, which has steamed straight into the Moneyfacts charts for its eye-catching rate and terms.
Fixed Rate ISA (26) pays a competitive rate of 2.25% yearly until 31.5.19, earning it a coveted place among the top 10 accounts of its sector.
The finer details…
This account can be opened and operated in branch, by post, by phone and online with a minimum deposit of just £1.
Further additions can be made for up to 14 days after the initial deposit or while the issue remains open, whichever is longer. Transfers in of the 2015/16 tax year limit will be permitted; however, transfers of previous years' savings are not. While withdrawals are not allowed, it is possible to access funds prior to maturity by closing the account and foregoing 120 days' interest. The same penalty applies to transfers out.
Why we like it…
Savers gearing up for the new tax year will be delighted by this latest offer. This account promises a good return and also gives savers a degree of flexibility by allowing early access to funds, albeit on closure of the account and an interest penalty.
Moneyfacts rating: Excellent
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.