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Virgin Money greatly improves ISAs

Virgin Money greatly improves ISAs

Category: ISAs
Date: 23/08/2017

Virgin Money has increased the rates on its variable and five-year fixed ISA by up to 0.15%, which sees both enter the Best Buy charts for their respective sectors, the five-year deal even reaching number one, and earns them both a high rating.

The basics…

The Defined Access E-ISA Issue 15 now boasts a rate of 1.06%, paid yearly, which is the highest rate among easy access ISAs, while the five-year Fixed Rate Cash E-ISA Issue 268 pays a market-leading rate of 2.15% yearly to 24.09.2022. Monthly interest-paying versions are also available, paying slightly reduced rates.

The finer details…

These online-only accounts require a minimum initial investment of just £1. The easy access account allows up to three withdrawals per calendar year (with 0.25% paid for the remainder of the year if more are made) and unlimited additions via a nominated account. There is no penalty on transfers out on this account, while the five-year version comes with a transfer out penalty of 180 days' loss of interest, the same penalty as applies to earlier access. The fixed deal allows additions for 30 days from account opening. Transfers in are permitted on both accounts from cash, stocks & shares and innovative finance ISAs.

Why we like them…

The market-leading rates on these accounts are enough to earn them high places in the Best Buys, as well as their high rating.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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