Thread: Best 1 year fixed term ISA, best interest rates for 1 year ISA. Bank of Cyprus.

The first thing I did when checking out the Bank of Cyprus was to check if it was covered under the Financial Services Compensation Scheme and according to this: How safe is Bank of Cyprus cash? | This is Money it is, so today it comes in first as the best 1 year fixed term ISA:

Bank of Cyprus are offering 3.3% fixed for 1 year:
Bank of Cyprus - Fixed rate cash ISA.

Tax-free interest on your savings

The Bank of Cyprus UK Fixed Rate Cash ISA helps you make the most of your savings. You get a guaranteed rate of interest, and it’s tax-free*.
With most savings accounts, tax is deducted from the interest you earn. But with a cash ISA, you can invest up to £5,340 for the 2011/2012 tax year and you won’t pay any tax on the interest.
Features and benefits

• Competitive tax-free fixed interest rates
• Fixed terms of 1, 2 and 3 years available
• Minimum opening deposit is only £1
• Top up your ISA during the tax year (subject to a minimum of £250 per deposit)
• Transfer in previous tax years’ ISAs to maximise your savings
• Interest paid and compounded annually
• Apply online, by phone or post
• No early withdrawals permitted

These rates are guaranteed for the duration of the fixed term of your ISA for deposits being made now. If we change our rates at a later date, the new rates will apply to any additional deposits or transfers-in you make at that time.

These great rates are available for the 2011/12 tax year. If you have already subscribed to another cash ISA this year with another ISA provider, you can transfer your existing cash ISAs to Bank of Cyprus UK to benefit from these rates.