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West Brom BS unveils Best Buy ISA

West Brom BS unveils Best Buy ISA

Category: Savings
Date: 16/01/2018

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 It is now over 6 months old so the content may be out of date.

West Brom BS has launched a new short-term ISA that heads straight into the Best Buy chart for two-year ISAs.

The basics

The 2 Year Fixed Rate ISA pays a highly competitive rate of 1.50% yearly, offering the option of interest either being paid away or compounded.

The finer details

The ISA, which requires a minimum deposit of £1,000, welcomes transfers in from both cash ISAs and stocks & shares ISAs, but does not allow additional deposits. Withdrawals prior to maturity are allowed, although savers must either give 90 days' notice or lose 90 days' interest. The same options are available if transferring away from this purely branch-based ISA.

Why we like it…

Besides the attractive rate, the option to either give notice or take an interest penalty gives savers an additional degree of flexibility that is not normally associated with fixed rate ISAs. As a result, the ISA is well-deserving of its Excellent Moneyfacts rating and spot in our Best Buys.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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