OakNorth’s one-year ISA tops Best Buys | Product News | moneyfacts.co.uk

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OakNorth’s one-year ISA tops Best Buys

OakNorth’s one-year ISA tops Best Buys

Category: ISAs
Author: Lieke Braadbaart
Date: 15/03/2018

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 It is now over 6 months old so the content may be out of date.

OakNorth Bank has increased the rate on its one-year fixed ISA by 0.07%, which sees it become the market-leader for its term, earning it the number one spot in its Best Buy chart as well as a high Moneyfacts rating.

The basics…

Fixed Rate Cash ISA now boasts a market-leading rate of 1.53% AER (1.52% gross) paid monthly over 12 months, whereby interest must be compounded.

The finer details…

This account requires a minimum investment of £1,000. It allows transfers in from other cash ISAs, as well as additions for the first 30 days from account opening. Earlier access is possible on a 90-day loss of interest penalty (withdrawals must be of at least £1,000), the same penalty as applies to transfers out. The ISA requires a nominated current account for access and can only be opened online, after which it can also be managed over the phone.

Why we like it…

With the rate on this deal increased so that it now sits comfortably at the top of the charts, it's no wonder why this deal has earned a high rating, with its flexible access options only adding to the appeal.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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