New variable ISA powers into top 10 | Product News - Moneyfacts

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New variable ISA powers into top 10

New variable ISA powers into top 10

Category: Savings
Date: 20/03/2015

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 It is now over 6 months old so the content may be out of date.

Skipton Building Society has expanded its saving range with a new variable rate ISA, which has shot straight into a prized top-10 position for its highly attractive rate and terms.

The basics…

Online Bonus Cash ISA 4 pays a variable rate of 1.50% yearly (1.49% monthly), including a 0.50% bonus for 12 months. This allows it to sit comfortably among its competitors in the Moneyfacts charts.

The finer details…

This ISA must be opened and operated online with an initial investment of just £1.

Further additions are welcome but it is not possible to transfer in existing ISAs, which means that this account is only suitable for this tax year's savings. Unlimited withdrawals and transfers out can be made without penalty.

Why we like it…

This ISA is likely to prove popular among savers keen to make a decent return on their savings. The small size of the initial investment, along with the ability to make further additions and unlimited withdrawals, is likely to appeal to those savers with a smaller savings pot. However, as the headline rate includes a 12-month bonus, savers must remember to reassess the account's competitiveness in a year's time.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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