Yorkshire Bank has unleashed a highly competitive two-year ISA onto the market, enabling it to take the top spot on the Moneyfacts charts and win an 'excellent' rating.
Cash ISA - Fixed Rate Bond Issue 27 has a market-leading rate of 2.10% yearly, fixed until 28.4.17.
This account must be opened and operated in branch with an initial deposit of at least £2,000.
Transfers in of cash and stocks & shares ISAs are welcome, and unusually for the fixed market, the account offers some flexibility over additions, permitted one deposit per tax year (provided the issue remains open).
It is also possible to access funds prior to maturity, although this will result in closure of the account and a tiered penalty of up to 180 days' loss of interest depending on when the withdrawal is made. Transfers away from this account are subject to the same terms.
This account is also offered by Clydesdale Bank with the same rate and terms.
This deal boasts a market-leading rate, which is sure to grab the attention of savers eager to make a decent return. The attractive rate is further bolstered by the additional flexibilities offered with this account: the ability to make a further deposit for the 2015/2016 tax year (should the issue remain open) and access funds early, albeit subject to an interest penalty, are definite bonus features.
Moneyfacts rating: Excellent
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