1-yr cash ISA stays in the top 10 | Product News - Moneyfacts

Product News

1-yr cash ISA stays in the top 10

1-yr cash ISA stays in the top 10

Category: ISAs
Date: 21/04/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Virgin Money has reduced the rate on its one-year cash ISA by 0.05%, but despite this, it's managed to retain its place among the top 10 accounts of its sector thanks to its competitive terms.

The basics…

Fixed Rate Cash E-ISA Issue 118 now pays a competitive 1.60% yearly (1.59% monthly) until 24.5.16, enabling it to remain within the Moneyfacts charts.

The finer details…

This account must be opened and operated online with an initial investment of just £1.

Further additions can be made for up to 30 days after the account has been opened and transfers in of both cash and stocks & share ISAs are welcomed. Savers also have the flexibility of accessing funds prior to maturity, although this will result in the loss of 60 days' interest, the same penalty as applies to transfers out.

For savers who do not wish to manage their account online, a branch and postal-operated version is also available.

Why we like it…

Although this account has had a slight rate decrease, its status among similar accounts is undiminished. Its competitive rate, combined with the flexibility of a monthly interest option and the ability to make further additions and withdrawals, albeit on a loss of interest, ensures that this account will remain an attractive prospect for savers.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
Close