ISA Save Fix 1 or 2 Years

Taggie

I need to re-do my Cash ISA for when my Mortgage finishes in July 2020, I looked at the Virgin Money one, but am wondering whether to fix for 1 year at 1.35% or 2 years at 1.55%

I'm thinking more on the lines of 2 years as with Brexit going the way it is going at the moment, are interest rates really going to rise over the next year?

Neil_Jones

Rates are beginning to creep up but bear in mind with the ISA you would be free to close the account with a penalty of probably 120 days interest? An option not available with normal fixed-rate savers.

That being said, you can get better rates outside of the ISA - 1.8% with Atom for example fixed for one year, or there's the three year NS&I 2.2% bond, capped at £3k investment but you can get it back again for an interest penalty, 90 days IIRC.