Virgin Money has launched a two-year fixed rate cash Isa paying a tax-free 2%. The rate puts it comfortably ahead of the former best deals of 1.8% from both Nationwide and Shawbrook Bank. The Virgin deal is fixed until September 2017 and is available in its branches and online.
Virgin Money shoots to top of cash Isa charts
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Virgin Money has launched a two-year fixed rate cash Isa paying a tax-free 2%. The rate puts it comfortably ahead of the former best deals of 1.8% from both Nationwide and Shawbrook Bank. The Virgin deal is fixed until September 2017 and is available in its branches and online. Its one-year rate for new savers is also up at a leading 1.71%. On easy access cash Isas, the best deal comes from National Savings & Investments at 1.5%, but you can't transfer your existing cash Isas into this account. The best deal for transfers comes from Nationwide Instant Isa Saver Issue 3 at 1.4%. Virgin pays a marginally higher 1.41% but limits you to three withdrawals of capital a year. On easy access taxable accounts Paragon Bank has launched another version of its Limited Edition Easy Access account at 1.46% before tax (1.17% after tax). It is slightly less than the 1.5% (1.2%) you earn in French bank's RCI Freedom account. The French deal comes under the European deposit administration scheme, which covers savers for up to €100,000 (around £72,000). Money in the Paragon account is covered by the UK scheme up to £85,000, but this will fall to £75,000 from 1 January. On fixed rate taxable bonds Charter Savings Bank pays 2.06% (1.65%) for one year or 2.25% (1.8%) for two years, available online. Also among the leaders are United Trust Bank at 2.05% (1.64%) for one year and Secure Trust at 2.33% (1.86%) for two years. This article was written for our sister website Money Observer
Source Moneywise http://ift.tt/1O1mlED
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