Final Opportunity to Secure a 5.44% Bonus Cash ISA Interest Rate
In the world of cash ISAs, CMC Invest is currently offering a competitive three-month fixed rate of 0.85% until August 7th. After this date, the rate will drop to a core variable rate of 4.59%.
Comparing this to other providers, CMC Invest's three-month rate is significantly lower than Paragon Bank's one-year fixed Cash ISA rate of 5.75% AER. Shawbrook Bank and Virgin Money offer a similar one-year fixed Cash ISA rate of around 5.71% AER. Zopa offers an easy access Cash ISA with a rate of 4.8% AER, while Moneyfarm offers a non-standard Cash ISA rate that starts around 4.09% AER (variable) for the first year.
However, it's important to note that CMC Invest does not seem to offer a specific 12-month Cash ISA rate in the information provided. Nevertheless, it does offer a Cash ISA and pays 2% interest on uninvested cash across all its plans.
Moneybox and Plum have lower core rates compared to other options, with rates of 3.95% and 3.29% respectively. Trading 212's cash Isa currently has a rate of 4.67%, including a 0.57% 12-month boost.
Signing up for a CMC Invest cash Isa before August 7th will lock in the higher rate of 0.85% for three months. Even over a full 12-month period, CMC Invest's cash Isa compares well with rivals like Trading 212, with an average rate of 4.8%.
It's worth mentioning that CMC Invest currently has a core variable rate above the base rate. However, with experts widely expecting the Bank of England to cut the base rate from 4.25% to 4% this week, providers are likely to shift their rates accordingly.
Both CMC Invest and Trading 212 offer flexible cash Isas. Trading 212's cash Isa tracks the base rate minus 0.15%. There is an offer of no fees on 30 funds with Trading 212.
Moneybox and Plum have restrictions on withdrawals affecting interest rates. Trading 212's Investing Isa offer is available.
In summary, if you're considering a cash Isa, CMC Invest's current offer of 0.85% for three months is worth considering, especially when compared to some of the higher one-year fixed rates offered by other providers. However, it's always a good idea to compare rates and terms before making a decision.
- If you're looking to temporarily invest your personal-finance, CMC Invest's current offer of 0.85% for three months on its Cash ISA could be a good option, given that some one-year fixed rates are higher with other providers.
- Besides offering a competitive three-month fixed rate, CMC Invest also pays 2% interest on uninvested cash across all its plans, making it an attractive choice for those investing in personal-finance.
