Spotlight on: Newcastle 50:50 ISA

 

Simon Read
Saturday 05 May 2012 11:03 BST
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The deal

The Newcastle building society has launched an ISA that is half fixed rate, half easy access.

Good points

The account pays a fixed rate of 4 per cent a year for five years on half the initial amount invested. The rest – which can be withdrawn at any time – pays 2.25 per cent. You can put up to £5,640 in a tax-free ISA during the current 2012-23 tax year.

Bad points

There are better rates to be found elsewhere. You can get up to 3.5 per cent on instance-access ISAs from the AA or Cheshire building society, while the Halifax pays 4.5 per cent on a five-year fixed ISA.

Conclusion

This account looks confusing. If you are happy to fix your rate, put your savings in the best available deal. If you may need instant access find the best rate you can. This offers neither.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in