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AA on the right savings road

AA on the right savings road

Category: Savings

Updated: 21/04/2011
First Published: 21/04/2011

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 It is now over 6 months old so the content may be out of date.

The AA has launched a new two year ISA sure to drive savers crazy.

Paying 3.50%, the Two Year Fixed Rate Cash ISA offers a return just below the best two year ISA deals around.

A minimum investment of £1 is required, although additional investments and transfers in are allowed while the issue remains open.

Early access to funds and transfers out are permitted too, with the severity of the penalty depending on when the withdrawal is made - 180 days' interest is lost for accessing money in the first year, while 90 days' interest has to be given up in year two.

Despite the penalties, the ability to make withdrawals during the term will be seen as a plus.

The account has been awarded four out of five Moneyfacts stars.

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