M&S Money supports savers with increased fixed rate offer

M&S Money is increasing its one year Fixed Rate Savings option from 3.00 per cent to 3.10 per cent AER/gross with effect from Thursday 8 September 2011. All M&S fixed rates are available within or outside of an ISA and are also available over two years at 3.20 per cent AER/gross or three years at 3.50 per cent AER/gross.

Customers can choose between fixed and variable rate options within the M&S ISA, or split their annual allowance between the two, in a single application.

Colin Kersley, Chief Executive of M&S Money, commented; "In these uncertain economic times, our customers are looking for security and a guaranteed rate of return. Offering to ‘mix and match' fixed and variable rates, within or outside an ISA, gives our customers a range of options for their savings."

The variable rate Flexi Cash ISA option offers a rate of 2.65 per cent AER/tax-free, which includes a 1.25 per cent bonus payable for 30 months from initial deposit then reverting to our standard variable rate, currently 1.40 per cent AER/tax-free

Minimum deposit £100
From £25 a month by direct debit
Transfers from other Cash ISA providers accepted
Withdrawals without charge, although once the maximum Cash ISA allowance of £5,340 for this tax year is reached, any withdrawals cannot be replaced

Apply for M&S Fixed Rate Savings online at marksandspencer.com/fixedratesavings.