New 4.15% fixed rate ISA from Furness Building Society
Furness Building Society has launched a new, competitive fixed term ISA at 4.15%.
The new1-Year Fixed Rate ISA is expected to top all but two of the rates available on the high street and can be opened with a lump sum of £1,000 to £20,000. With 4.15% interest fixed for the one-year term, a deposit of £1,000 would generate a balance of £1,041.50 after 12 months.
Access to interest is available upon maturity. Closure of the account during the one-year fixed period is permitted subject to 180 days’ loss of interest.
The product is available in-branch, online and through the ‘Furness Savings’ app, which is available on all app stores or can be downloaded by visiting https://www.furnessbs.co.uk/digital.
The launch of the new product adds to Furness Building Society’s highly competitive ISA portfolio which also includes the Double Access Saver ISA Issue 1. This allowsaccount holders to make two withdrawals within a 12-month period and deposit money at any time.Withdrawn money can be replaced without it impacting the ISA allowance, providing it is withdrawn and replaced within the same tax year.
Customers who already have an ISA with Furness or another provider can transfer their existing funds into the new product. This allows savers to take advantage of the competitive interest rate while maintaining their tax-free savings status.
Simon Broadley, Chief Executive of Furness Building Society, commented: “Whether they’re saving to go travelling or to renovate their kitchen, we know our members appreciate Cash ISAs as a risk-free way to build up their savings. Our new 1-Year Fixed Rate ISA is perfect for those with a lump sum to lock away for 12 months, so their money can accrue healthy interest over the period.
“Account holders can manage their money through our Furness Savings app, which offers quick and easy ways of managing money on the go. We are also upholding our commitment to in-person banking to give our members choice as well as convenience, and our new ISA product is available through our branch network.”