OakNorth’s 30-month bond and 1-year ISA now top | Product News | moneyfacts.co.uk

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OakNorth’s 30-month bond and 1-year ISA now top

OakNorth’s 30-month bond and 1-year ISA now top

Category: Savings
Date: 22/02/2018

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 It is now over 6 months old so the content may be out of date.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 amended certain savings rates by up to 0.31%, which sees its 30-month fixed bond and one-year ISA reach the top of their charts, while its 24-month bond takes up a more competitive place in the Best Buys. They also all earn a high Moneyfacts rating.

The basics…

The 30-month Fixed Term Deposit now pays a market-leading rate of 2.11%, while its 24-month equivalent boasts a competitive 2.09%. These rates are paid on maturity and compounded annually. The 12-month Fixed Rate Cash ISA, meanwhile, boasts a rate of 1.45% gross (1.46% AER) paid monthly, whereby interest must be compounded.

The finer details…

These online-only accounts require a minimum initial investment of £1,000. The fixed bonds do not allow additions or any early access, while the ISA does allow additions for 30 days from account opening, as well as earlier access and transfers out on the loss of 90 days' interest. The ISA requires a nominated account for access, but can also be managed by phone and allows transfers in from cash ISAs, provided the account is funded within 30 days.

Why we like them…

The improved rates which see the one-year fixed ISA and 30-month bond become market-leaders are more than enough to win them to the top spots in the Best Buys, while the 24-month bond takes up a more competitive space. All easily earn their high rating as a result.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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