Santander launches new range of cash ISAs with competitive interest rates | Personal Finance | Finance

Santander fixed rate ISAs

To open the One Year, 18-Month, or Two Year Fixed Rate ISA, savers must also deposit at least £500. Interest is calculated daily and paid annually or at maturity, and the maximum balance at any time is £2million.

Unlike the eISA, partial withdrawals aren’t allowed. People can withdraw money from this account early by closing it, however, there will be a penalty equivalent to 120 days’ interest if this takes place.

The ISA allowance for the 2022/23 tax year is £20,000 and deposits can be made up to and including April 5, 2023.

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