Marks & Spencer Money has struck a blow for the high street providers with its new short term fixed rate bond and cash ISA.
Its One Year Fixed Rate Cash ISA now pays a market leading rate of 3.00%, while the bond version, which pays the same, sits just below the best comparable products currently available.
A clear benefit of the cash ISA is the option for investors to be allowed to split their ISA allowance between both fixed and variable rate options.
If people require their money in an emergency, it is also helpful that Marks & Spencer Money allows early closure of the accounts, albeit with a £50 penalty.
For being excellent all round accounts, these deals earn four out of five Moneyfacts stars.
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