YBS - ISA Loyalty six access e-ISA issue 2 (NLA)

Catplan

Does anyone know what the maturity date refers to?

in the App it shows a maturity date, is this the day interest is paid?

or does the interest rate change? 

Shedman

Per the fact sheet. https://www.ybs.co.uk/documents/productdata/Factsheet-YB941685W.pdf

Interest is paid on the anniversary of the opening of the account.  

On maturity date it gets converted to an easy access cash ISA.  

Hopefully they will start offering new Loyalty restricted access ISAs at decent rates as the current ones start to mature.   The wifes and mine mature late Sept but luckily we also opened the postal Issue 3 as well (which doesn't mature until April 2024) so if they don't we could transfer to those (albeit as they already have £20k it would be the lower rate although thats still good for an access ISA)

[Sadly this conversion on maturity after a year also applies to the Loyalty Six Access e-saver and our accounts mature late Sept as well.  £20k from the wife's is likely to go to the RBS 2 Year Fixed ISA this week and the rest into Tandem unless anything else better pops up in the next month.]