Charter Savings Bank has increased the rates on its range of Fixed Rate Cash ISA , and one deal has been branded as "excellent" by Moneyfactscompare.co.uk . Cash ISAs have become more popular over the past few years of higher interest rates, as the accounts allow individuals to save up to £20,000 a year tax -free.

The bank’s new rate includes a 4.30% payable on anniversary, or a monthly interest option of 4.22% gross / 4.30% AER on a minimum opening amount of £5,000. Savers also have the option to split their Cash ISA savings across multiple ISAs within Charter's range. Caitlyn Eastell, spokesperson at Moneyfactscompare, said: "Charter Savings Bank has increased the rates on its range of Fixed Rate Cash ISAs by up to 0.16%. The one-year option now offers a market-leading rate; it

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