Key details:

• The account requires a minimum deposit of £500 and allows balances up to £1 million.
• Customers can deposit their full £20,000 annual ISA allowance.
• Withdrawals are not permitted during the term, and early closure incurs a penalty of 90 days’ interest.

Alex Sitaras from Skipton noted, “With ISA allowances under increased scrutiny and savers keen to act before any future changes, many people are looking for straightforward ways to secure strong, tax-free returns.” He added, “That’s why we’re pleased to introduce a new 18-month fixed ISA, offering one of the leading rates on the market today and available to both new and existing customers.”

Skipton has streamlined its ISA offerings, making it easier for savers to navigate their options. The account can be opened online, via the Skipton app, in branch, or by phone — catering to various customer preferences.

The annual ISA allowance resets each year on April 6, coinciding with the start of a new tax year. This timing may prompt more individuals to consider their savings strategies as they plan for the upcoming year.

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