Virgin Money has increased the rate paid on its one-year fixed rate ISA by 0.05%, allowing it to remain in a comfortable position in the Moneyfacts charts.
1 Year Fixed Rate Cash E-ISA Issue 141 now pays 1.81% yearly (1.80% monthly) until 24.10.16, enabling it to maintain its competitive place just behind the current market-leaders.
This ISA must be opened and operated online with a minimum investment of just £1.
Savers can make additional deposits for up to 30 days after the account has been opened while transfers in of existing ISAs can be made at any time. Unusually, early access is also permitted, albeit upon the loss of 60 days' interest, the same penalty as applies to transfers away.
A branch and postal-operated version of this ISA is available for those who would prefer not to manage their account online.
The rate boost to this ISA has ensured that it has retained its competitive edge in the market, but its appeal also rests in the fact that it offers a considerable amount of flexibility: transfers in and further additions are permitted, and savers also have the option to earn monthly interest, as well as access funds early (albeit with a penalty), making this an attractive, all-round product.
Moneyfacts rating: Excellent
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