An expert has said one account stands out as having a “market-leading” rate on the Fixed Rate Cash ISA table. Tembo Money has increased the interest on its 1-year Fixed Rate Cash ISA to 4.3% AER, the deal has earned an “excellent” Moneyfactscompare rating.

Commenting on the deal, Adam French, head of news at Moneyfactscompare.co.uk, said: “Tembo Money has increased the rate on its 1-year Tembo Cash ISA - Fixed Rate. Now paying 4.30% AER, a market-leading rate when compared against other fixed rate ISAs with similar terms currently available.

“It requires a minimum £500 deposit and pays interest on maturity. Savers can benefit from some flexibility with earlier access permitted, but subject to a 90-day loss of interest penalty.”

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