Ford Money's New 18-Month Fixed Rate Savings Plans

• Ford Money today launches two new products, an 18 month Fixed Saver (paying an interest rate of 1.80% AER^Tooltip) and an 18 month Fixed Cash ISA (1.40% AER^Tooltip)
• Savers can split their annual Cash ISA allowance between all or any of Ford Money’s Cash ISA products
• Ford Money Cash ISAs have ISA flexibility, meaning that customers can withdraw^Tooltip and replace money from their Ford Money Cash ISA in the same tax year without losing any of their tax-free^Tooltip entitlement 

LONDON, Jan. 10, 2018 – Ford Money, the UK savings bank from Ford Motor Company’s financial services business Ford Credit, has today added two new fixed rate products to its offer:

• Fixed Saver 18 month: 1.80% gross/AER
• Fixed Cash ISA 18 month: 1.40% gross/AER

Both products benefit from Ford Money’s ‘Our Best Rate Guarantee'. This means that if interest rates offered by the 18 month Fixed Saver and Fixed Cash ISA increase before savers make their initial deposit, their account will be automatically upgraded to the new rate.

“We’ve seen a strong demand for fixed rate accounts, so we’re pleased to be able to offer these new products to provide savers with more flexibility and choice when looking for an account that suits their needs, especially those planning for the longer term,” said Julian Hynd, chief deposits officer at Ford Money.

Savers can split their Cash ISA annual allowance between all or any of Ford Money’s Cash ISA products, including the new 18 month Fixed Cash ISA, helping them make the most of their annual allowance of £20,000 for the current tax year. Ford Money Cash ISAs also have ISA flexibility, meaning that customers can withdraw² and replace money from their Ford Money Cash ISA in the same tax year without losing any of their tax-free³ entitlement.

Customers have 14 days in which to fund their product; this is the same for all Ford Money fixed term products.

Since its launch in April 2017, Ford Money has been shortlisted for a number of consumer money awards, underlining its commitment to delivering a fair and consistent service for savers. Most recently, Ford Money was named Best New Savings Provider at the Moneynet Personal Finance Awards 2018. Other award nominations include Best New Provider from Savings Champion and Online Savings Provider of the Year by Moneyfacts Consumer Awards 2018.

Ford Money services are available online at www.fordmoney.co.uk and include a range of savings products and ISAs.

Deposits of up to £85,000 are protected by the UK government’s Financial Services Compensation Scheme (FSCS).