Virgin Money has increased the rate paid on its one-year ISA, which has subsequently improved its position in the Moneyfacts charts.
1 Year Fixed Rate Cash E-ISA Issue 133 now pays 1.71% yearly (1.70% monthly) until 24.8.16, enabling it to sit just behind the current market-leader of its sector.
This account must be opened and operated online with a minimum investment of just £1.
Additional deposits can be made for up to 30 days after the account has been opened and transfers in of existing ISA savings are also welcomed. Savers will be pleased to note that early access is permitted, albeit upon the loss of 60 days' interest, the same penalty as applies to transfers away.
For those who would prefer not to manage their savings online, a branch and postal-operated version paying the same rate is also available.
The rate boost to this competitive ISA has pushed it further up the charts, with a similar rise in popularity likely to follow. The fact that it is also a very flexible deal, with a monthly interest option and the ability to add extra funds and make withdrawals (with an interest penalty), serves to make it a highly competitive and attractive offer.
Moneyfacts rating: Excellent
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