Top-10 fixed ISAs are reissued | Product News - Moneyfacts

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Top-10 fixed ISAs are reissued

Top-10 fixed ISAs are reissued

Category: ISAs
Date: 19/01/2016

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 It is now over 6 months old so the content may be out of date.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 reissued its fixed rate ISAs, and as a result, its one and five-year deals have maintained their hold on the Moneyfacts charts.

The basics…

The one-year version of Fixed Rate Cash E-ISA Issue 160 pays a yearly rate of 1.65% (1.64% monthly) until 24.2.17, which allows it to sit just behind its sector's current market-leader, while the five-year version (Issue 159) pays a competitive rate of 2.35% yearly (2.33% monthly) until 24.2.21, enabling it to retain its place among the top 10.

The finer details…

These accounts must be opened and operated online with a minimum investment of just £1.

Savers can make additional deposits for up to 30 days after an account has been opened and transfers in of cash and stocks & shares ISAs are also welcome. Unusually, it is also possible to access funds early, although this will result in the loss of 60 days' interest for the one-year ISA and 180 days' interest for the five-year variant. Transfers away will incur the same penalties.

For those who would prefer to manage their accounts offline, branch and postal-operated versions paying the same rates are also available.

Why we like it…

Thanks to their continued competitiveness, both of these ISAs have maintained their presence in their respective sectors. The one-year ISA is particularly competitive, sitting just behind the current market-leader, something that is bound to catch the eye of savers. The fact that both deals also offer monthly interest rates will appeal to those who are looking to secure a regular income.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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