M&S Advantage Cash ISA rate is number one in the market

M&S Money is holding the interest rate on its recently launched Advantage Cash ISA option, following yesterday's reduction of 0.50% in Bank of England base rate.

The interest rate of 3.10% AER/tax-free is the highest on the market for variable rate Cash ISAs that accept transfers in. The rate includes a 1% bonus until 21st April 2010.

For savers looking for a guaranteed return within an ISA, M&S Money is offering a Fixed Rate Savings option, with interest rates over 1, 2 and 3 years up to 2.75% AER/tax?free. Customers can also split their annual Cash ISA allowance between M&S variable rate and fixed rate options, using one simple application form.

Andy Ripley, M&S Money deputy Chief Executive, said; "The combination of the best rate in the market and the reassurance of the M&S Money brand, is attracting thousands of enquiries per day for both new applications and transfers from other providers.

"People want a safe home for their money and we can reassure them that all cash savings with M&S Money are protected under the UK Financial Services Compensation Scheme, so the first £50,000 per customer of any cash savings are 100% guaranteed".

Customers can apply at marksandspencer.com/isa