M&S Money launches new mini cash ISA

M&S Money launches new mini cash ISA February 21

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Marks & Spencer (M&S) Money is launching a new fixed-rate savings option with mini cash ISA product.

Available from the end of the month, the new option is targeted at customers seeking a guaranteed high interest rate and provides greater flexibility for savers.

The new mini cash ISA can be arranged over a fixed-rate of one, two or three years, with interest rates based on the length of the term, up to 5.55 per cent AER.

Brendan Cook, chief executive of M&S Money, said: “Our mini cash ISA has been extremely popular since its launch three years ago. We are now responding to customers who asked us for the option of guaranteed interest rates as well as the convenience of instant access variable rates.”

Customers have greater control with the new mini cash ISA product and can make choices over interest rates and access to the account, with both fixed and variable rates available. Between £500 and £3,000 can be invested in the fixed-rate product per tax year and money can be transferred into the scheme from other providers.

A recent poll conducted by Intelligent Finance discovered that more and more consumers are considering switching their ISA provider, with seven per cent of respondents planning to shift their plan over the next 12 months.

Written Exclusively by AdFero for ISA Guides

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