M&S Money offers bonus rate ISA

Thursday, 04 February 2010 12:00

M&S Money is announcing the launch of a new ISA option which is paying a variable interest rate of 2.65 per cent.

The Flexi Cash ISA, which requires a minimum deposit of £100 to open, offers a tax-free rate of interest which includes a 1.25 per cent bonus for the first 18 months.

Research by M&S Money revealed that as well as looking for interest rates with bonuses, people were becoming more concerned about gaining easy access to their savings.

As a result, savers can make withdrawals from the M&S account without penalty. Although any amount withdrawn cannot be replaced in that tax year.

Colin Kersley, chief executive of M&S Money, said "Our research shows that more people than last year are looking for a savings provider they can trust.

"At M&S Money we have been providing a safe home for customers' savings for many years."

The ISA is being launched on February 9th.

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