CMC Invest has added an easy-access cash ISA to its product range in response to growing customer demand for flexible savings products with competitive rates.
The investment platform’s new cash ISA will offer a 4.85% AER (variable) interest rate. Cash held in a customer’s account will earn interest daily, which will be paid into their account monthly.
The ISA has a number of features to bolster flexibility. The interest rate is not penalised when clients access their savings and gives them the option to move money between their cash ISA and stocks & shares ISA without impacting their annual £20,000 ISA allowance.
Furthermore, as this is a flexible ISA, customers can withdraw their money and deposit it again into their ISA without affecting their annual allowance.
CMC Invest customers can open the cash ISA with a minimum deposit of £1.
David Dyke, head of CMC Invest, said: “We’ve seen increasing demand from clients for a cash ISA and we are confident that our competitive rates and flexibility will appeal to a broad range of savers, who we look forward to supporting as they grow their wealth and achieve their financial goals.”
The cash ISA is the latest addition to CMC Invest’s range of products, which includes a flexible stocks & shares ISA, self-invested personal pension (SIPP) and a general investment account (GIA).