In contrast, non-Isa fixed rate bonds do not allow you to withdraw your money early under almost any circumstances. For example, Paragon Bank pays a top rate of 4.4 per cent interest on its one and two-year fixed rate Isas. Virgin Money, for example, has one of the lowest penalties for closing a fixed-rate Isa early. Fixed-rate bonds that do allow early withdrawals tend to offer lower rates. Lloyds, Barclays, NatWest, HSBC and Marcus by Goldman Sachs will all allow you to close fixed-rate bonds early with a penalty.

Source: Daily Mail May 24, 2023 07:48 UTC