Charter Savings Bank increases rates on cash Isa range

Charter Savings Bank has unveiled new accounts and increased rates on its cash Isa range.

The rate on Charter Savings Bank’s easy access cash Isa has more than doubled to 1.02% AER, while there have been increases to its one-, two- and three-year fixed rate accounts of up to 0.09%.

The bank is also launching a five-year fixed cash Isa paying 2.15%, while its 120-day notice account pays 1.25%.

Paul Whitlock, director of savings at Charter Savings Bank, said: “We have seen strong demand for cash Isas since launching just six weeks ago, and that has enabled us to make these significant improvements against the market trend.

“The combination of rate rises on accounts which were already market leaders and new launches makes us the clear leader across the cash Isa market and will be very popular with customers looking for simple, straightforward accounts and good service.

“However, the market changes rapidly and savers should aim to lock-in fixed rates as soon as possible.”


Charter Savings Bank’s rate increases and new launches:

• easy access cash Isa issue 3, paying 1.02% AER (previously 0.50% AER)
• one-year fixed rate cash Isa, paying 1.30% AER (previously 1.21% AER)
• two-year fixed rate cash Isa, paying 1.41% AER (previously 1.37% AER)
• three-year fixed rate cash Isa, paying 1.50% AER (previously 1.45% AER)
• five-year fixed rate cash Isa, paying 2.15% AER (new launch)
• 120-day notice cash Isa issue 1, paying 1.25% AER (new launch).

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