M&S money extends cash ISA rate guarantee until 2010

M&S Money is extending the interest rate guarantee on its variable rate Mini Cash ISA, underlining its commitment to offering customers consistently good savings rates.

M&S Money will now guarantee that the variable rate paid will at least match the Bank of England's base rate until 1st January 2010.

Following last week's Bank of England Base Rate change, the M&S variable Cash ISA rate changed from 5.50% to 5.25% AER/tax-free with effect from Friday 8th February 2008.

M&S Money also offers 1, 2 and 3 year Fixed Rate Savings with guaranteed interest rates up to 5.70% AER/gross, available both inside and outside an ISA wrapper.

Mini Cash ISA customers can choose between fixed and variable rates of interest, or split their annual allowance between the two, using one simple application form. Anyone aged 16 and over can put up to £3,000 this tax year into a Mini Cash ISA - an ordinary savings account with the advantage of all interest being tax free.

Customers can apply for the M&S Cash ISA via the internet at marksandspencer.com/isa.