Aldermore Offers a Competitive Rate of 2.75% on a Fixed Rate ISA Account | Personal finance | Finance
Customers are guaranteed a fixed interest rate on the three-year ISA, provided they pay a deposit within 14 days of opening an account. The minimum deposit to open an account is £1000.
The maximum deposit for the account is £20,000 which may include amounts from existing ISAs from other providers.
Customers have 14 calendar days from account opening to make as many deposits as they wish.
After this time, no more deposits can be made.
Interest is calculated daily and will be paid monthly or annually.
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Savers have the option of having the interest paid into the Fixed Rate Cash ISA or another personal savings account with Aldermore.
They can also arrange for the interest to be paid to another UK bank or building society account.
Funds can be withdrawn from this year or previous tax years, but there will be a deduction of 180 days of interest.
Money can be transferred to the client’s designated account, transferred to another ISA or transferred to another Aldermore account in the person’s name.
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Details should also be provided for any ISAs from other providers, from which the saver wishes to transfer money.
When the account is about to mature, Aldermore will contact the client at least 21 days to find out what they want to do with the funds.
A reminder will be sent approximately 14 days before the account is due.
If the bank receives no instructions, they will transfer the money to a 30 Day Notice Cash ISA.
There is a 14 day period after opening the account where a customer can cancel the account without notice and without incurring any penalty.