Virgin Money has increased the rate of its one-year ISA by 0.04% to push it up the Moneyfacts charts, as well as introducing a new two-year version that has taken the top spot in its sector.
The two-year version of Fixed Rate Cash E-ISA Issue 131 pays a market-leading rate of 2.00% yearly (1.98% monthly) until 24.9.17, while the one-year variant (Issue 130) now pays 1.65% yearly (1.64% monthly) until 24.8.16, which allows it to move up the charts to sit just behind the market-leaders of its sector.
Both accounts are internet-operated and require a minimum investment of just £1.
Additional deposits can be made for up to 30 days after the accounts have been opened, and transfers in of both cash and stocks & shares ISAs are permitted. It is also possible to access funds early, subject to the loss of 60 days' interest for the one-year ISA and 90 days' for the two-year variant, the same penalties as apply for transfers out.
For savers who prefer not to manage their accounts online, branch and postal-operated versions paying the same rates are also available.
These accounts possess highly attractive rates, with the two-year ISA in particular proving to be very competitive. Their appeal is boosted further by the considerable flexibility offered by both accounts: savers are likely to welcome the monthly interest option, the ability to contribute extra funds and the option of early access (albeit with an interest penalty).
Moneyfacts rating: Excellent
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