5-yr fixed ISA is a market-leader | Product News - Moneyfacts

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5-yr fixed ISA is a market-leader

5-yr fixed ISA is a market-leader

Category: ISAs
Date: 21/07/2015

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 It is now over 6 months old so the content may be out of date.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 increased the rate of selected fixed accounts by 0.16%, enabling its five-year ISA to hold a place at the very top of the Moneyfacts charts.

The basics…

The five-year version of Virgin Fixed Rate Cash E-ISA Issue 134 now pays 2.51% yearly (2.48% monthly) until 24.8.20, a market-leading rate.

The finer details…

This account must be opened and operated online with a minimum investment of just £1.

Further additions are permitted for the first 30 days after the account has been opened and transfers in are also allowed. Savers can access funds early on the loss of 180 days' interest, a penalty that will also apply 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.

Why we like it…

The rate boost to this ISA has swelled its competitiveness and secured its place at the top of the charts. Unusually for the fixed rate sector, this ISA allows further additions and the option to access funds early, although this will result in a hefty penalty of 180 days' interest. Nevertheless, this is likely to be an eye-catching deal for savers on the hunt for a competitive return.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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