There’s a £10,000 deposit required to open the account and withdrawals are not permitted. Those who decide to withdraw must take out the full amount and will be charged the appropriate amount of interest on their account balance at the time.
Accrued interest is calculated daily and is paid into the Fixed Rate Cash ISA account annually and at the end of the term.
In fifth place is Virgin Money’s 2 Year Fixed Rate Cash E-ISA (Issue 517) with an AER of 3.27 percent.
The account can be opened online with a minimum £1 deposit and interest is paid yearly.
Any withdrawals made within the fixed rate period are subject to a charge equivalent to 90 days’ loss of interest on the amount withdrawn.
Coming sixth is Santander’s 2 Year Fixed Rate ISA with an AER of 3.25 percent.
A minimum of £500 is required to open the account and interest is calculated daily and rewarded yearly.
Leeds BS’ 5 Year Fixed Rate Cash ISA (Issue 139) ranks seventh with an AER of 3.2 percent.
A minimum £100 deposit is required to launch the account and interest is calculated daily and paid annually on October 31.
Withdrawals and transfers are permitted, although they will be subject to 365 days’ loss of interest on an amount equivalent to that withdrawn or transferred.
Placing eighth on the list is Hodge Bank’s 5 Year Fixed Rate Cash ISA with an AER of 3.19 percent.