Barclays Bank has reduced the rates of selected fixed rate deals; however, its two-year cash ISA has kept its competitive spirit and held on to a place in the Moneyfacts charts.
2 Year Flexible Cash ISA Issue 6 now pays a competitive rate of 1.71% on maturity (1.70% monthly).
New customers must open and operate this account in branch while existing customers can open and manage it in branch, by phone or online, provided they have registered for these services. A minimum investment of just £1 is required.
Further additions can be made until 5.4.16 and transfers in of both cash and stocks & shares ISAs are welcome, provided a request is made within 30 days of the account opening.
Unusually for a fixed rate account, this deal allows three penalty-free withdrawals of up to 10% of the balance throughout the term. Additional withdrawals will then result in closure of the account and the loss of 180 days' interest. Transfers away from this account will also incur the same penalty.
Despite the reduction, this ISA still merits attention from savers. The rate remains competitive but it is the flexibility of the account that is likely to appeal most. The ability to make further additions, arrange three penalty-free withdrawals and transfer in existing ISA savings makes this deal very attractive and worthy of a continued place in the Moneyfacts charts.
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.