Virgin Money has relaunched its easy access ISA, which has shot straight back into the Moneyfacts charts thanks to its attractive rate and terms.
Defined Access E-ISA Issue 2 pays a competitive variable rate of 1.51% yearly (1.50% monthly), allowing it to stake a claim to a position among the top 10 accounts of its sector.
This account must be opened and operated online with a minimum investment of just £1. Savers should note that access is via a nominated account.
An unlimited number of additions can be made and transfers in of pre-existing cash and stocks & shares ISAs are also permitted. Withdrawals can be made without notice, but the number is restricted to three per calendar year. Exceeding this number will result in a reduced rate of 0.75% being paid for the remainder of the year. Transfers out, on the other hand, can be made without any restriction or penalty.
For investors who would prefer to manage their account offline, a branch and postal-operated version paying the same rate is also available.
Savers who are happy to plan their withdrawals carefully are sure to pay attention to this relaunched deal. Paying a top 10 rate, this deal allows limited access to invested funds as well as unlimited additions and transfers in. Savers can also choose to earn monthly interest, which will appeal to those who are looking to secure a regular income.
Moneyfacts rating: Excellent
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