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).
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Masthaven teams up with Intrinsic Financial Services
Masthaven has announced a new partnership with Intrinsic Financial Services as the bank looks to enable more brokers to access its range of residential mortgages.
Cambridge & Counties refinances Oxfordshire nursery
Cambridge & Counties has refinanced an Oxfordshire nursery, which is creating 50% more places for local children.
How important are brokers in the specialist banking market?
Brokers are an important channel for newly launched banks, a number of industry professionals have claimed.
BFC Bank enters UK market
BFC Bank has launched into the UK banking market offering financial services to UK SMEs.
Liam Fox launches GREAT Innovation in Action Awards
International trade secretary Liam Fox has launched the GREAT Innovation in Action Awards to find the best partnerships between UK and Asia-Pacific companies.
Teachers Building Society names new board of directors chair
Teachers Building Society has named Julie Nicholson as the new chair of its board of directors.
Church of England introduces contactless payments
The Church of England has introduced contactless, virtual terminal and SMS mobile payments to over 16,000 churches, cathedrals and religious sites across England.
FIBA workshops to feature live deal room
The Financial Intermediary & Broker Association (FIBA) has announced that its upcoming regional workshops will give brokers the chance to interact with partner lenders in a live deal room.
Metro Bank to enter Scottish mortgage market
Metro Bank has announced that from 5th April it will be expanding its mortgage business into Scotland.
Do challenger banks need to collaborate on Open Banking?
Collaboration between challenger banks on Open Banking could be a powerful message to consumers and the established players, according to an expert at a recent event.