New 5-yr ISA storms into the charts | Product News - Moneyfacts

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New 5-yr ISA storms into the charts

New 5-yr ISA storms into the charts

Category: Savings
Date: 12/11/2014

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 It is now over 6 months old so the content may be out of date.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 unleashed a new five-year e-ISA onto the market, pushing aside its competitors to claim a place just behind the market-leader for its sector.

The basics…

Virgin Fixed Rate Cash E-ISA Issue 99 pays a rival-beating rate of 2.50% yearly (2.47% monthly) until 24.12.19.

The finer details…

This account must be opened and managed online with a minimum deposit of just £1.

Further additions can be made within 30 days of the account's opening and transfers in of other cash and stocks & shares ISAs are also permitted.

Investors are able to access funds prior to maturity, but this will result in the loss of 180 days' interest. Transfers away from the account will also incur this penalty.

The ISA is also available as a branch and postal-operated account for those who would prefer not to manage their investment online.

Why we like it…

This ISA boasts an attractive rate, which sees it settle comfortably just behind the market-leader of this sector. The terms are also appealing, with further additions, transfers out and early access all permitted. As a result, this ISA is bound to attract eager investors who are keen to invest for a mid-length term.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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