{"id":43516,"date":"2023-10-19T10:59:23","date_gmt":"2023-10-19T10:59:23","guid":{"rendered":"https:\/\/cabanesetcompagnie.com\/?p=43516"},"modified":"2023-10-19T10:59:23","modified_gmt":"2023-10-19T10:59:23","slug":"virgin-money-offers-excellent-5-52-interest-rate-on-fixed-cash-isa-deal","status":"publish","type":"post","link":"https:\/\/cabanesetcompagnie.com\/world-news\/virgin-money-offers-excellent-5-52-interest-rate-on-fixed-cash-isa-deal\/","title":{"rendered":"Virgin Money offers \u2018excellent\u2019 5.52% interest rate on fixed cash ISA deal"},"content":{"rendered":"

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Virgin Money is offering a new interest rate on its fixed cash ISA, earning a Moneyfacts \u201cexcellent\u201d rating.<\/p>\n

The One Year Fixed Rate Cash E-ISA (Issue 622) is now paying a 5.56 percent Annual Equivalent Rate (AER), retaining a prominent position on the top table.<\/p>\n

Commenting on the deal, James Hyde, a spokesperson at Moneyfactscompare.co.uk, said: \u201cThis week, Virgin Money has changed the issue number and reduced the rate on its One Year Fixed Rate Cash E-ISA.<\/p>\n

\u201cThe deal now pays a rate 5.52 percent gross\/5.66 percent AER, and may appeal to savers who want to utilise their ISA allowance and are happy to lock their cash away for a year.\u201d<\/p>\n

Mr Hyde added: \u201cThe account can be opened and managed online, and can be set up with a balance of just \u00a31. Overall, this deal earns an Excellent Moneyfacts product rating.\u201d<\/p>\n

READ MORE: <\/strong> ‘How I saved my first \u00a310,000 as a teenager while working part-time’<\/strong><\/p>\n

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The account is available to savers aged 16 or over and interest can be paid monthly or annually.<\/p>\n

Up to \u00a32million can be invested overall and withdrawals are permitted, however, each will be subject to a charge equivalent to 60 days\u2019 loss of interest.<\/p>\n

Savers can also find attractive one-year fixed deals with other providers, such as Castle Trust Bank and Charter Savings Bank, which are offering interest rates of up to 5.75 percent and 5.72 percent respectively.<\/p>\n

People can open Castle Trust Bank\u2019s Fixed Rate e-Cash ISA online with a minimum deposit of \u00a31,000 and interest is paid on maturity.<\/p>\n

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The account is available to savers aged 18 or over and up to \u00a3500,000 can be held in the account in total.<\/p>\n

Similar to Virgin Money, withdrawal rules are strict and if a person needs access, they\u2019ll need to withdraw the full amount and pay a charge equivalent to 90 days\u2019 interest.<\/p>\n

Charter Savings Bank\u2019s One Year Fixed Rate Cash ISA, paying 5.72 percent, can be opened with a slightly larger deposit of \u00a35,000. The account is also available to people aged 18 or over, who can opt for interest to be paid monthly or annually.<\/p>\n

Withdrawals are also permitted, provided that the balance does not drop below \u00a35,000. These will also be subject to a charge equivalent to 90 days\u2019 interest, so savers should be comfortable investing the money without touching it in order to capitalise on the full ISA benefits.<\/p>\n