Last opportunity to secure a 5.44% bonus cash International Savings Account (ISA) rate
CMC Invest Cash ISA Offers Competitive 12-month Rate and Flexible Access
The CMC Invest Cash ISA is a competitive choice for savers looking for a high-interest rate and flexible access to their savings. With a variable interest rate of 4.59% AER, the CMC Invest Cash ISA is slightly below the very top easy-access cash ISAs, which peak around 4.7% to 4.82% for 12 months.
One of the standout features of the CMC Invest Cash ISA is its flexibility. Savers can make transfers in and withdraw funds without notice, making it an attractive option for those who need easy access to their savings. The account can be opened and managed through the CMC Invest app, and a minimum deposit of just £1 is required to open the account.
In comparison to other providers, the CMC Invest Cash ISA offers a competitive rate over a 12-month period. For instance, Trading 212 Cash ISA offers a higher rate of 4.82% AER, but this includes a 0.57% fixed boost for 12 months. Other notable ISAs offer rates around 4.4% to 4.64% AER, such as Tembo Bank of Scotland and Moneybox.
However, the CMC Invest Cash ISA offers more than just a high interest rate. It forms part of a broader investment platform offering stocks, ETFs, and SIPPs with zero commission trading. This is a unique feature for a cash ISA provider and may appeal to users wanting both cash savings and investment options under one account.
The CMC Invest Cash ISA also offers a three-month fixed bonus rate of 0.85% that will expire on August 7. When averaged over a year, the CMC Invest Cash ISA offers a rate of 4.8%.
In terms of flexibility, the CMC Invest Cash ISA allows savers to take money out and replace it in the same tax year without affecting the Isa allowance. This makes it an attractive option for those who need access to their savings while still taking advantage of the tax-free benefits of an ISA.
In conclusion, while the CMC Invest Cash ISA does not top the absolute highest interest rates in the market, it remains very competitive within easy-access options and offers the unique benefit of seamless integration with investment products on the same platform. This makes it an attractive option for investors looking for a combined cash and investment solution over a 12-month period.
References: 1. CMC Invest Cash ISA 2. Top Cash ISAs 2023 3. Trading 212 Cash ISA 4. CMC Invest - Stocks, ETFs, and SIPPs 5. CMC Invest - Minimum Deposit
- Investors interested in personal-finance strategies might find the CMC Invest Cash ISA appealing, as it offers a competitive 12-month interest rate while providing flexible access to funds and integrating seamlessly with investment products.
- For individuals looking to invest in finance alternatives, the CMC Invest platform could be a worthwhile consideration, as it combines a competitive cash ISA with options for stocks, ETFs, and SIPPs, all with zero commission trading.
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