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Post Office Money improves ISAs

Post Office Money improves ISAs

Category: ISAs
Author: Lieke Braadbaart
Date: 03/01/2018

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 It is now over 6 months old so the content may be out of date.

Post Office Money has increased selected rates by up to 0.60%, which sees its one-year ISA sit at the top of the charts, while its two-year and easy access ISAs take up competitive places in the Best Buys. All furthermore earn a high rating.

The basics…

The Online ISA - 1 Year Fixed Rate Issue 11 now boasts a market-leading rate of 1.45%, paid on its anniversary, while the two-year version pays 1.60% and the Easy Access Issue 12 pays a variable rate of 1.15% yearly, including a 0.90% bonus for the first 12 months. Interest must be compounded on all the accounts.

The finer details…

While the fixed rate accounts require a minimum initial investment of £500, the easy access ISA has a lower minimum of £100. The fixed ISAs don't allow any additions or withdrawals, with early access only allowed on closure of the account and 90 or 180 days' loss of interest respectively for the one and two-year accounts, the same interest penalty that applies to transfers out. Transfers in are permitted from cash and stocks & shares ISAs on all accounts. The easy access account naturally allows additions and withdrawals (the latter of at least £10) with no penalty on full transfers out.

All accounts are online-exclusive and operated by OneFamily on behalf of Post Office Money. Access must go through a Holding or nominated account.

Why we like them…

The competitive rates on these accounts are more than enough to earn them their places in the Best Buys, as well as their high rating, with the one-year ISA's market-leading rate and chart-topping position particularly standing out.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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