NatWest Launch 2 Year Fixed Rate ISA At 2.35 Percent AER
13 February 2013 / by Isabel Buxton
At a time when good fixed rate ISA deals are hard to find, NatWest have launched competitive one and two year fixed rate cash ISAs. These plans allow savers the option of one or two year fixed tem, with the two year term paying a currently competitive 2.35% AER (gross).
One or two year fixed rate ISAs
The NatWest 2-year fixed rate ISA of matures on 25th March 2015. If you don’t want to lock cash away for this length of time, you can still benefit from a 1-year plan which matures in March 2014 and offers 2.05% AER (gross).
If you’ve already got a cash ISA for this year or from previous years, you can transfer the balance into the NatWest fixed-rate ISA, allowing you to bring all your cash ISAs together in one place.
Interest will be paid at the rate of 2% AER/gross (fixed) until the fixed rate ISA start date of 25th March 2013, after which you’ll benefit from the higher fixed rate offered by your chosen plan.
ISA application deadline approaching
The closing date for applications is 25th February 2013, and your fixed rate ISA must be opened by this date. You then have until 18 March to make deposits using your allowance for the 2012/13 tax year and the minimum deposit is £1,000. As with all cash ISAs, you can put a maximum of £5,640 into the account for the 2012/13 tax year.
Partial withdrawals not allowed. Early closure will result in an interest charge, which will vary depending on your chosen fixed rate term. This is a limited offer and may be withdrawn at any time