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New 1yr ISA earns chart place

New 1yr ISA earns chart place

Category: ISAs
Date: 15/02/2017

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 It is now over 6 months old so the content may be out of date.

Newcastle BS has launched a new one-year ISA, which thanks to its competitive rate has earned a high Moneyfacts rating and a place in the Best Buy chart for its sector.

The basics…

The Community Saver One Year Fixed Rate ISA (Issue 1) pays a fixed rate of 0.95% yearly (or monthly) to 26.03.2018, a top-10 rate for its term.

The finer details…

The account requires a minimum investment of £500. It allows additions while the issue remains open, while earlier access is permitted subject to a 60-day loss of interest penalty, which also applies to transfers out. Transfers into the account are only allowed from other cash ISAs.

As this is a charity saver, 0.10% will be paid to the Community Foundation on a quarterly basis. The donation amount will be fixed until 23 August 2019. The account has to be opened in branch, after which it can be managed by phone, by post and online as well.

Why we like it…

The competitive rate on this account, combined with its flexible access options, has earned it a high rating and allowed it to join the Best Buys. The account will be particularly attractive to those looking to give to charity while they save.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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