Spotlight On: Aldermore's ISA

 

The deal

Aldermore Bank is offering a one-year, fixed-rate Isa paying 2.25 per cent.

Good points

There are no hidden catches or introductory bonus rates. The rate isn't just offered to newly-opened Isas, savers can also transfer cash from existing tax-free plans.

Bad points

Putting your cash into a fixed-rate deal now could mean missing out on better rates.

Conclusion

This account bucks the annoying and misleading trend for savings institutions to offer seemingly great rates that include massive bonuses. The rate you see is what you get. But if you don't want to tie your cash up for a year, Aldermore also has a 60-day notice Isa, paying a variable rate of 2.1 per cent.

Independent Partners; Do you need financial advice on your investments, pension or insurance? Book a free consultation with an independent Financial Adviser at VouchedFor.co.uk

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