M&S Money is offering a boost on one of its savings accounts to provide some security for its customers.
The firm's Fixed Rate Savings option saw its returns increased from three per cent to 3.10 per cent AER/gross last week (Thursday 8 September). As with all of the company's fixed rates, the savings account is available within or outside of an ISA and is also available over two years at 3,20 per cent AER/gross or three years at 3.50 per cent AER/gross.
Colin Kersley, chief executive at M&S Money, commented: “In these uncertain economic times, our customers are looking for security and a guaranteed rate of return. Offering to ‘mix and match' fixed and variable rates, within or outside an ISA, gives our customers a range of options for their savings.”
The minimum deposit for the account is £100 and the savings account can be kept going with direct debits from £25 a month.
Meanwhile, the variable rate Flexi Cash ISA option provides a rate of 2.56 per cent AER/tax-free, which includes a 1.25 per cent bonus payable for 30 months from initial deposit, reverting to the standard variable rate after this point.
