Virgin Money has reduced the rate paid on its five-year fixed rate ISA by 0.16%, but despite this, it has kept its place on the Moneyfacts charts thanks to its continuing competitiveness.
The five-year version of Fixed Rate Cash E-ISA Issue 152 now pays 2.35% yearly (2.33% monthly), a top 10 rate for its sector.
This internet-operated account requires a minimum investment of just £1.
Additional deposits can be made for up to 30 days after account opening while transfers in of both cash and stocks & share ISAs are welcomed. It is also possible to access funds prior to maturity, although this will result in the loss of 180 days' interest, the same penalty as will apply to transfers away.
For those who would prefer to manage their account offline, a branch and postal-operated version paying the same rate is also available.
Internet investors are likely to continue showing interest in this deal thanks to its still-competitive rate and relative flexibility: both additions and transfers in are accepted and savers also have the opportunity to access funds early if needed. Those looking to secure a regular income are also likely to welcome the monthly interest option.
Moneyfacts rating: Excellent
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