With the cost of money market funds increasing due to continuing uncertainty surrounding the Eurozone crisis, we’re seeing more banks turning their attention to retail savings balances.
Amongst the best new savings rates this week is a new 1 year fixed rate ISA from Virgin Money paying a very impressive 3.30% AER.
The account sits in the top three best buys (behind Santander 3.50% and Saga 3.60%) is available from just £1 and unlike some competitors including the top 1 year fix from Saga, it allows you to transfer in balances from previous ISA’s.
We may be heading out of the main ISA season, but this is an excellent deal and well worth a look if you haven’t decided on a home for your 2012/2013 tax free savings allowance.
Locking away the maximum cash balance of £5640 for a full 12 months will earn you £186.12 in interest – tax free.