Norwich and Peterborough Building Society has launched three new fixed rate saving products. The new ISA is particularly competitive and has grabbed a place on the Moneyfacts charts.
Neither early access nor further additions can be made with the bond and e-bond.
The bond can be opened by post or in branch, and then operated by the same methods as well as online. As its name suggests, the e-bond can only be opened and operated online.
The ISA can be opened either in branch or by post, and can then be managed using the same means or online. This ISA does allow early access, but this is subject to closure of the account and the loss of 180 days' interest. The same penalty applies to transfers out of the account. However, transfers in from cash and stocks & shares ISAs are accepted.
Compared with similar accounts on the market, the ISA is particularly competitive and it takes a comfortable place in the top 10 for its term. The flexibility offered by early access is a definite plus despite the penalty and is likely to be an intriguing prospect for investors.
Four Moneyfacts Stars have been awarded.
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