Feb 21 2007
A new mini cash Isa offering fixed and variable interest rates has been released that could appeal to parents looking to save for their children's future.
The Isas, from M&S Money, offer guaranteed tax-free interest rates of up to 5.55 per cent annual equivalent rate.
Furthermore, the longer the fixed-rate term taken out - one, two or three years - the higher the interest rate is.
"We are now responding to customers who asked us for the option of guaranteed interest rates as well as the convenience of instant access variable rates," commented Brendan Cook, chief executive of M&S Money.
"We have made this as easy as possible so customers can make their own choices."
Parents wishing to set aside savings for their children might heed Lenten advice given today by moneysupermarket.com.
The price comparison site noted that by sacrificing non-essential purchases such as coffees, teas, soft drinks, newspapers, magazines, food snacks, cigarettes and chewing gum, Britons could save £86 over Lent and almost £800 if they continue their behaviour throughout the year.
