Two best-buy cash Isas launched by Barclays paying at least 4%
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Two best-buy cash Isa’s launched by Barclays: Bank launches one-year tax-free deal at 4% and two-year at 4.1%
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Barclays has unveiled two large Isa savings accounts that pay more than 4 percent interest.
The banking giant has skyrocketed Money Mail’s best-buy tables with a one-year fix that pays 4 percent and a two-year tax-free fix that pays 4.1 percent.
Customers with their Premier checking account can get 4.1 percent and 4.2 percent higher, respectively.
Isa deals: Barclays skyrocketed our best buy tables with a one-year fix that pays 4% and a two-year tax-free fix that pays 4.1%
The two-year fix open to all is just 0.15 percentage points off the highest overall deal of 4.25 per cent, but this requires an agreement with West Bromwich Building Society for five years.
Both Barclays accounts allow transfers from other Isas and can be opened with as little as £1.
Despite being fixed, the accounts have some flexibility, with three penalty-free withdrawals allowed, each of up to 10 percent of the balance.
The Isas can be accessed online, in the Barclays app, at the branch and also by phone.
The rise raises hopes that more major banks will fight for tax-free money in 2023, especially ahead of the tax year end on April 5.
Check out the best Isa cash rates in our savings tables