M&S does it for high street savers - Savings - News | moneyfacts.co.uk


Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

M&S does it for high street savers

M&S does it for high street savers

Category: Savings

Updated: 18/10/2010
First Published: 18/10/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Marks & Spencer Money has struck a blow for the high street providers with its new short term fixed rate bond and cash ISA.

Its One Year Fixed Rate Cash ISA now pays a market leading rate of 3.00%, while the bond version, which pays the same, sits just below the best comparable products currently available.

A clear benefit of the cash ISA is the option for investors to be allowed to split their ISA allowance between both fixed and variable rate options.

If people require their money in an emergency, it is also helpful that Marks & Spencer Money allows early closure of the accounts, albeit with a £50 penalty.

For being excellent all round accounts, these deals earn four out of five Moneyfacts stars.

Find the best savings rates for you - Compare savings accounts

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 Any products featured may be withdrawn by their provider or changed at any time.