‘Excellent’ rating for 1-yr ISA | Product News - Moneyfacts

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‘Excellent’ rating for 1-yr ISA

‘Excellent’ rating for 1-yr ISA

Category: ISAs
Date: 26/05/2015

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 It is now over 6 months old so the content may be out of date.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 reduced the rate of its one-year cash ISA but it has remained in the Moneyfacts charts thanks to its competitive rate and terms.

The basics…

1 Year Fixed Rate E-ISA Issue 124 now pays 1.51% yearly (1.50% monthly) until 24.6.16, enabling it to stay among the top 10 accounts of its sector.

The finer details…

This ISA must be opened and operated online with an initial investment of just £1.

Additional deposits can be made for up to 30 days after the account has been opened while transfers in of existing cash and stocks & shares ISAs are welcome. It is also possible to access funds prior to maturity upon the loss of 60 days' interest, a penalty that will also apply to any transfers away.

A branch and postal-operated version of this account paying the same rate is also available if savers would prefer not to manage their account online.

Why we like it…

This account may have had a slight rate discount but it still offers savers a competitive top-10 rate. In addition, it also offers considerable flexibility with further additions, transfers in, monthly interest and early access prior to maturity all permitted. However, savers must remember that making a withdrawal will result in a penalty of 60 days' loss of interest.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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