Virgin Money has launched a market-leading easy access Cash Isa, paying 1.21% to savers.
The bank has added to its range of Isas with the launch of the Easy Access Cash Isa (Issue 21), which offers the 1.21% interest rate on all balances of £1 or more.
This puts it ahead of the next best product, the Paragon Limited Edition Easy Access Isa (Issue 3), which pays 1.16% to account holders.
This Virgin Money Isa is flexible, meaning you can deposit and withdraw money throughout the tax year without it affecting your £20,000 annual allowance.
For example, if you have £5,000 in this Isa and withdraw £1,000, you will be able to deposit that money once again and still have £15,000 of your annual Isa allowance left.
The Virgin Money Isa does not include any bonus, although as it’s a variable rate it could drop at any time. It also accepts transfers from other providers.
The Easy Access Cash Isa (Issue 21) can be opened in branch, by phone or by post. An online version of the account - the Easy Access Cash e-Isa (Issue 21) – is also available paying 1.21%.
Get more from your savings with the Moneywise model savings portfolio. You can earn 3.26% interest on a £10,000 savings pot by using a pair of current accounts, a linked regular saver and a fixed rate one-year bond.