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Skipton launches new ISA paying 1.4% for 12 months

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29/03/2016
Skipton Building Society has launched a Bonus Cash ISA and increased the rate on its one year Fixed Rate ISAs and Bonds.

The new easy access Bonus Cash ISA Issue 5 is available in branch, by telephone, post and online and pays 1.40%, but this includes a 0.40% bonus for 12 months, so after a year the rate falls to 1.0%.

The product becomes a Flexible ISA from 6 April which means savers can take money out of their ISAs and put it back in, without it counting towards the £15,240 annual ISA allowance.

Skipton’s 1 Year Fixed Rate ISA will now pay 1.40% for all branch, post, telephone and online applications.

The lender’s two and three year fixed term ISAs and Bonds remain at 1.50% and 1.60%, respectively.

Skipton’s head of products, Kris Brewster, said: “We are pleased to offer our popular easy access Bonus Cash ISA plus increased rates for those looking to invest over a fixed one year term. Our Bonds and E-Bonds allow customers to save up to £1,000,000, and our Fixed Rate ISAs continue to offer savers attractive rates despite the low rate environment.”

 

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