Coventry launches market-leading cash ISA

Last updated: Apr 22nd, 2013
News by Hugh Morris
Piggy banks with coins

Coventry Building Society has launched a market-leading two-year fixed rate ISA paying 2.55% interest - but only the full cash ISA allowance can be invested.

The ISA will be available until 31 May 2015 and there is a maximum and minimum investment of £5,760.

It's available to new and existing customers, transfers in are not permitted, nor are withdrawals and early closures will be subject to a charge.

Colin Frankline, sales and marketing director for Coventry, said: "This two-year fixed-rate ISA is ideal for savers looking for a guaranteed return on their savings whilst making the most of their tax-free allowance."

The next best buy for a two-year fixed-rate ISA is Nationwide's two-year fixed bond paying 2.5%.

For those not wishing to wrap their money up for quite so long, the best one-year fixed-rate ISA is from Aldermore and offers 2.25%.

The best variable-rate ISA is Cheshire Building Society's 2.3% ISA saver, but that includes a 1.8% bonus until 31 October 2014.