Yorkshire Bank unveils new fixed ISA | Product News - Moneyfacts

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Yorkshire Bank unveils new fixed ISA

Yorkshire Bank unveils new fixed ISA

Category: Savings
Date: 23/03/2015

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 It is now over 6 months old so the content may be out of date.

Yorkshire Bank has launched a new three-year fixed rate ISA onto the market, earning it an 'excellent' review for its attractive rate.

The basics…

Private Cash ISA – Fixed Rate Bond Issue 2 pays 2.65% yearly until 31.8.18, a market-leading rate in its sector.

The finer details…

This account is only available to Private Banking customers. It must be opened and operated in branch and requires an initial investment of at least £2,000.

Transfers in of cash and stocks & shares ISAs are welcomed and it is also possible to make one additional deposit for the 2015-2016 tax year, provided the issue remains open.

Early access is possible, but this will result in closure of the account and a tiered interest penalty depending on the time of withdrawal (1-91 days prior to maturity = 45-day interest penalty, 92-181 days before maturity = 90-day loss, 182-273 days before maturity = 135-day loss and over 273 days prior to maturity = 180-day loss). The same penalty applies with transfers out.

This ISA is also available from Clydesdale Bank.

Why we like it…

Private Banking customers are likely to welcome this new ISA, which pays a market-leading rate on any investment. The flexibility of the options to transfer in existing funds as well as make an additional deposit for the next tax year adds extra appeal, and is sure to attract eligible investors. Early access is also possible, although savers must remember that this results in closure of the account and up to 180 days' loss of interest.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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