Fix your ISA with the Cheshire Building Society

A new 18-month fixed rate cash ISA has been launched by the Cheshire Building Society, part of the Nationwide Group, paying a market-leading 3.50% tax-free (3.46% AER) on balances of more than £1,000.

The Direct Fixed Rate ISA - Issue 1 can be opened either online or by telephone and is open to new subscriptions only. The minimum opening balance is £1,000 with a maximum balance based on the current ISA allowance of £5,340.

Interest is paid on maturity and is paid back into the account. Withdrawals are not permitted during the term of the account but closures can be made subject to 180 days' loss of interest.

Matthew Wyles, Nationwide's Group Distribution Director, said: "There isn't much time left for consumers to make use of their full ISA allowance. One way savers could make good use of part of that allowance is to take advantage of the fixed rate ISA products available. The Cheshire Direct Fixed Rate ISA is certainly an attractive option for savers.

"Of course, not everyone will want to lock away their money for 18 months, which is why we launched a market-leading easy access ISA - the Cheshire Direct Cash ISA - last week. So whether you want a competitive rate over a longer term, or wish to have instant access, the Cheshire Building Society has options available."