Clydesdale and Yorkshire Banks have today entered the Which? Best Rate tables with the launch of a two-year fixed-rate Isa.
The new deal from Clydesdale and Yorkshire Banks takes them straight to the top of the Which? Best Rate 2-year fixed-term table. This highly competitive account pays an impressive 4% AER fixed until 31 October 2013. The branch-based or internet-operated account requires a minimum investment of £2,000 and accepts transfers in from other Isa providers.
An attractive interest rate
Jo Langenhan, savings expert at Which?, said of the new deals: ‘The latest fixed-rate Isa account from Clydesdale and Yorkshire Banks is great news for savers, especially if they have not used up their tax-free Isa allowance (£5,340 this year). If you have already used up your cash Isa allowance, Clydesdale and Yorkshire Banks also offer table-topping rates on their one, two, three and five-year fixed-term savings deals.’
Beware of penalties
To get the higher interest-rates fixed-term accounts usually offer, savers need to ensure that they are able to tie their money up for the required period as partial withdrawals or early closure will be subject to a penalty fee.