M&S Money reduces variable Cash ISA rate

Following last week's 0.50% Bank of England Base Rate change, the M&S variable Cash ISA rate has changed from 5.00% to 4.50% AER/tax-free.

The variable Cash ISA interest rate is guaranteed to at least match Bank of England's base rate until 1st January 2010.

M&S Money is also launching a new tranche of Fixed Rate Savings with effect from 17th October 2008, offering guaranteed interest rates over 1, 2 and 3 years up to 5.00% AER/gross. Fixed Rate Savings are available both inside and outside an ISA wrapper.

For more information, visit marksandspencer.com/isa