Skipton launches new ISA paying 1.4% for 12 months
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.”