New savings accounts launched into the top 10 | Product News - Moneyfacts

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New savings accounts launched into the top 10

New savings accounts launched into the top 10

Category: Savings
Date: 03/10/2014

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 It is now over 6 months old so the content may be out of date.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 added to its two-year fixed rate savings range with a market-leading e-ISA as well as a rival-beating e-bond, both of which have taken the Moneyfacts charts by storm.


The basics…

Fixed Rate E-ISA Issue 93 pays a market-leading rate for its sector of 2.10% per annum (2.08% per month) until 24.11.16. Meanwhile, Fixed Rate E-Bond Issue 103 also pays a top 10 rate of 2.10% yearly (2.08% monthly) until 20.11.16.


The finer details…

As the names suggest, both the e-ISA and the e-bond can only be operated online with an initial investment of just £1. Regular versions of both accounts, which can be managed in branch or by post, are also available.

Further additions can be made to the e-ISA as long as the payments are made within 30 days of the account opening. Transfers in of other cash and stocks & shares ISAs are also welcomed. Early access and transfers out are permitted, although this will result in the loss of 90 days' interest.

Meanwhile, the fixed rate e-bond allows further additions while the issue is open, although early access is not allowed. Investors must therefore be comfortable with the length of the term.

Why we like them…

The fixed rate e-bond and e-ISA both boast attractive rates, which have secured them places on the Moneyfacts charts. The e-ISA is particularly competitive and it currently holds a market-leading position. The ability to add to funds and transfer in previous ISA savings cements its appeal to investors, as does the ability to access funds early. As a result, this account is likely to appeal to a broad range of investors hungry for a return on their money.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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