Virgin Money has cut the rate paid on its one-year fixed ISA by 0.10%, but despite this, it remains among the top accounts of its sector thanks to its continued competitiveness.
Virgin Fixed Rate Cash E-ISA Issue 172 now pays a competitive 1.40% yearly (1.39% monthly) until 24.3.17, enabling it to continue to reside in the Moneyfacts charts.
This internet-operated account needs a minimum investment of just £1. Transfers in of existing cash and stocks & shares ISAs are permitted and savers are also allowed to make further additions for up to 30 days after an account has been opened.
This ISA also allows access prior to maturity, although this will result in the loss of 60 days' interest, the same penalty as applies 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.
The slight rate reduction on this ISA has not harmed its competitive prospects. Indeed, it continues to hold a place on the charts, which will undoubtedly attract eager savers, especially as it also offers a monthly interest option and the chance to access funds early, albeit upon payment of a penalty.
Moneyfacts rating: Excellent
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