Barclays 1 year flexible fixed rate ISA

Ocelot

Rony said:

Can someone please explain why this product is too good to be true? I'm quite new to this and I currently have Virgin Money Cash ISA at 3%.

I thought that you can transfer your cash isas to any other cash isas and it wouldn't use up your allowance. Why is this one special? 

You can put £20k in in April 2023, but isn't that the same with all other cash isas? It's the new tax year so you are able to open up new cash isa/use existing one to add another £20k to?

Can someone elaborate why this is so good!

Thanks!

The main advantage for the 2 year, I suppose, is that if ISA rates plummet in 12 months time you can still put 20k in at 4.11%