N&P increases interest rate on Five Year Fixed Rate Cash ISA

N&P (Norwich and Peterborough Building Society) is increasing the interest rate on its Five Year Fixed Rate Cash ISA by 0.25% today, Friday 18 February 2011, the Society announced.

The account from N&P is a Five Year Fixed Rate Cash ISA, available to new and existing N&P customers, offering them the chance to earn 4.00% on their £5,100 ISA allowance.

The Five Year Fixed Rate Cash ISA must be opened with the full ISA allowance of £5,100 (or £5,340 from 6th April).

Gary Lacey, savings product manager at N&P, said: "This is good news for people who prefer to benefit from a guaranteed return on their tax-free savings. This new 5 year cash ISA is available to those who have yet to commit their cash ISA allowance for 2010/2011, and also to those who will be looking at investing their 2011/2012 allowance. In the current financial climate it is particularly important that people make their money work harder for them, and this increase in interest rate on our 5 Year Fixed Rate Cash ISA can help people do that."

"If this cash ISA doesn't suit someone's personal requirements we have others available, and would be pleased to talk people through the different options."