Aug 3 2006
Following the increase in the Bank of England base rate by 0.25 per cent, Marks and Spencer cash Isa customers are set to enjoy a new rate of 4.75 per cent from tomorrow.
M&S Money has made the move as part of its guarantee to at least match the interest rate on its accounts with the Bank of England base rate until December 31st 2007.
The rate increase, a rise from 4.5 to 4.75, will apply to the M&S mini cash Isa, Tessa only Isa and the cash component of the M&S maxi Isa.
"We are delighted to pass on the base rate increase to our customers without any delay. This is thanks to our interest rate guarantee which is the longest we have offered on our Cash ISAs," explained Eddie Nott, deputy chief executive of M&S Money.
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