Clydesdale and Yorkshire Banks launch new Cash ISA

07/11/2011

Clydesdale and Yorkshire Banks today (Monday 7th November) launched a new Cash ISA Fixed Rate Bond with a maturity date of the 31st October 2013.

The two year ISA offers a competitive rate of 4% Gross/AER. It mirrors the Bank’s two year Term Deposit rate and includes the following features:

Product features

• Minimum opening balance of £2,000.
• Maturity date, 31st October 2013.
• Transfers in are subject to ISA regulation limits, and a minimum opening balance of £2,000.
• Guaranteed interest rate.
• Part withdrawals are not permitted.
• Early closure is subject to an interest penalty based on the remaining term (Min. £30).
• Interest calculated daily from the date of deposit and is applied annually and at maturity.

Steve Reid, Retail Director for Clydesdale Bank, said: “We know that people need their money to work hard for them and this very competitive fixed rate ISA gives our customers another great opportunity to maximise the return on their savings.

“With ten times more savers than borrowers, we are keen to demonstrate our support through our range of products which is why we’ve also just launched a highly competitive range of term deposits.”