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Hodge Bank improves fixed ISAs

Hodge Bank improves fixed ISAs

Category: ISAs
Author: Lieke Braadbaart
Date: 03/05/2018

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 It is now over 6 months old so the content may be out of date.

Hodge Bank has increased selected rates by up to 0.10%, which sees its one, two, four and five-year ISAs improve their positions in the Best Buy charts, and earns them a high rating too.

The basics…

The 1 Year Fixed Rate Cash ISA now boasts a near-market leading rate of 1.50%, paid on maturity, while the two-year equivalent pays 1.60%, the four-year pays 2.05% and the five-year pays 2.25% yearly. Alternative versions which pay interest on a monthly basis are also available for those who'd prefer to get an income from their tax-free savings account.

The finer details…

These accounts require a minimum initial investment of £1,000. They allow transfers in from cash and stocks & shares ISAs, but no additions. Early access is only possible on closure of the account and the loss of 90, 180, 320 or 365 days' interest respectively, with the same interest penalty applying to transfers out. The accounts can be opened by post or online, and then operated over the phone and by post.

Why we like them…

The competitive rates and early access options that come with these accounts are more than enough to see them improve their places in the charts and earn their high rating.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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