Skipton increases ISA rates

Savers can also take advantage of Skipton’s Fixed Rate Bonds with the One Year Fixed rate increasing to 1.40%. Two, three and five year products are all still available. Some online Fixed Rate Bonds offer increased rates, with the One Year e-Bond at 1.55% and 2 Year e-Bond at 1.60%.

Customers can deposit the annual ISA limit of £15,000 into Skipton’s Fixed Rate ISAs and are also able to transfer in previous years ISA allowances if they wish.

Kris Brewster, Skipton’s Head of Products, said:

“Last year we were the first UK financial organisation to announce ourselves NISA-ready following the Budget announcement about new ISA savings limits. This led to Skipton taking in a record number of ISA deposits in 2014 and we are determined to lead the way in 2015.

“Savers still have time to either open a new ISA for the present tax year or top up an existing one to a maximum of £15,000 and these new rates are designed for customers who have not yet done so.

“From 6 April, the ISA allowance increases slightly, meaning that people can put an extra £240 into their ISA that year, giving a total of £15,240 in a tax free wrapper. By increasing the rates on our shorter term fixed rate ISAs we are continuing to offer savers attractive rates despite the low rate environment.

“The chance to keep more of their savings from the taxman, plus interest rate increases on certain products, can only be good news for our customers.”