The account requires a minimum deposit of £500 and allows balances up to £1 million. Both existing and new customers can open this account, which can be accessed online, via the Skipton app, in branch, or by phone.

Key features:

• The fixed-rate Cash ISA pays an annual equivalent rate (AER) of 4.55%.
• Customers can deposit their full £20,000 annual ISA allowance.
• No withdrawals are permitted during the 18-month term.
• Early closure incurs a penalty equivalent to 90 days’ interest.

Alex Sitaras from Skipton Building Society noted that with ISA allowances under increased scrutiny, many savers are eager to secure strong returns before potential changes occur. He stated, “That’s why we’re pleased to introduce a new 18-month fixed ISA, offering one of the leading rates on the market today and available to both new and existing customers.”

Skipton has streamlined its ISA offerings to provide clearer options for savers. This move aligns with the annual reset of the ISA allowance each April 6, creating a timely opportunity for those looking to maximize their tax-free savings.

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