Skipton Building Society’s new 4.55% fixed-rate Cash ISA is among the highest rates currently available in the market. The account offers an 18-month term for savers looking for competitive tax-free returns.
The account requires a minimum deposit of £500 and allows balances up to £1 million. Both existing and new customers can access this fixed-rate ISA, which enables them to deposit their full £20,000 annual ISA allowance.
Key features:
- The account pays an interest rate of 4.55% AER.
- Withdrawals are not permitted during the 18-month term.
- Early closure incurs a penalty of 90 days’ interest.
Customers can open the account online, via the Skipton app, in branch, or by phone. Skipton has streamlined its ISA offerings to provide clearer options for savers.
Alex Sitaras from Skipton noted, “With ISA allowances under increased scrutiny and savers keen to act before any future changes, many people are looking for straightforward ways to secure strong, tax-free returns.” He added, “That’s why we’re pleased to introduce a new 18-month fixed ISA, offering one of the leading rates on the market today and available to both new and existing customers.”
The ISA allowance resets each year on April 6, marking the start of a new tax year. This change may prompt additional interest in Skipton’s offering as customers look to maximize their savings potential.
