Norwich & Peterborough Building Society has increased selected savings rates by up to 0.15%. As a result, its 18-month fixed rate e-bond and three-year cash ISA have pushed into the Moneyfacts charts.
18 Month Fixed Rate E-Bond now pays a competitive 1.80% yearly, which allows it to sit comfortably in the Moneyfacts charts. Meanwhile, 3 Year Fixed Rate Cash ISA pays 2.15% yearly, enabling it to move into the top 10 of its sector.
The finer details…
The bond can be opened by post and online with a minimum deposit of £1,000 but must then be managed online (a non-internet operated version is also available). Like many fixed rate products, no further additions or withdrawals are permitted, so savers must be happy with their investment from the beginning.
The ISA can be opened and operated in branch and by post with an initial deposit of at least £100. While no additions are permitted, it is possible to transfer in existing cash and stocks & shares ISAs. It is also possible to access funds early, albeit on the loss of 180 days' interest, a penalty that also applies to transfers away.
Both accounts are also available from Yorkshire Building Society, Chelsea Building Society and Barnsley Building Society.
Why we like them…
The rate increase to both of these accounts has boosted their competitiveness significantly, allowing them to move into the Moneyfacts charts. The ISA is particularly compelling thanks to its attractive rate and the option to transfer in existing funds and access funds early if necessary.
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 Any products featured may be withdrawn by their provider or changed at any time.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.