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Wesleyan improves fixed rate cash ISAs

Wesleyan improves fixed rate cash ISAs

Category: ISAs
Author: Lieke Braadbaart
Date: 05/07/2018

Wesleyan Bank has increased selected cash ISA rates by up to a whopping 0.95%. Consequently, its one- and two-year deals now sit in the Best Buy charts for their respective sectors, earning them a high rating as well.

The basics…

The one-year Internet Only Cash ISA now boasts a near market-leading rate of 1.55%, while the two-year equivalent pays 1.65%; both pay interest yearly and require it to be compounded.

The finer details…

These accounts need a minimum initial investment of £20,000. They allow transfers in from cash and stocks & shares ISAs, but no additions, while early access and transfers out are only possible on the loss of up to 90 days' interest via a nominated account. As their name suggests, these accounts must be managed online.

Why we like them…

The competitive rates and early access options that come with these accounts are more than enough to see them enter the charts and earn their high rating, with the one-year ISA now sitting in second place.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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