New fixed rate ISAs launched | Product News - Moneyfacts

Product News

New fixed rate ISAs launched

New fixed rate ISAs launched

Category: Savings
Date: 21/01/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Norwich & Peterborough Building Society has unveiled two new fixed rate ISAs, with the 18-month version winning a four-star review for its competitive terms.


The basics…

18 Month Fixed Rate Cash ISA has a competitive rate of 1.50% yearly while its three-year counterpart has a rate of 1.90%.


The finer details…

Both accounts can be opened and operated in branch and by post with an initial deposit of at least £100.

It is not possible to add to deposited funds once the accounts are open but transfers in of both cash and stocks & shares ISAs are welcomed. Unusually for the fixed rate sector, early access to funds is permitted, although this will result in a 90-day loss of interest penalty for the 18-month ISA and a 180-day loss of interest for the three-year variant. Transfers away from these accounts will incur the same penalties.

Fixed rate bonds and e-bonds paying the same rate are also available.


Why we like them…

These accounts are a refreshing addition to the savings market, with the 18-month ISA offering a particularly competitive package. The appeal of an attractive rate is boosted by the flexibility offered by early access, albeit on a loss of interest, and the option to transfer in existing ISA savings. As a result, this is likely to be a popular choice among savers.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close