Updated 8th April pm as Leeds Building Society Online ISA at 2.55% is withdrawn too.
Just when savers thought things couldn’t get any worse, Santander has surprisingly withdrawn two of its best buy ISAs just two days into the new tax year.
The timing of this announcement will be a bitter blow to many savers who had probably earmarked these competitive accounts as a home for their 2013/14 ISA allowance.
Usually the best buy Cash ISA deals are in place long enough to cater for people who invest at the end of a tax year as well as those who subscribe within the first few weeks of the next, hence the Santander move will have caught many people on the hop.
The Direct Saver instant access ISA paying 2.50% has been substituted with a new version paying just 2.00% whilst the table topping 2 year fixed rate major ISA paying 2.80% has been pulled and not been replaced.
It seems that the Santander focus is on existing 123 customers who are still able to apply for the 2 year fixed rate ISA at an enhanced rate of 3.00%.
Building societies now dominate the Cash ISA best buys with Coventry Building Society (Poppy ISA) at 2.60% heading the pack for instant access tax free savings while for fixed rate accounts Leeds BS is top for one year at 2.45% and Nationwide BS offering the best deal for two years at 2.50%.
- Where next for NS&I customers? - October 23, 2020
- Fixed rate savings – best buy rates edging upwards - September 17, 2020
- 0% Credit Card Balance Transfer terms on the slide since lockdown - July 13, 2020