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Investment platform DIY Trading 212 has today increased the rate on its easy access cash Isa for new customers, raising the rate to 5.05 per cent.
The new promotional rate offers an additional 0.15 percent on top of your standard variable rate of 4.9 percent.
It means new customers will enjoy 5.05 per cent interest on their cash Isas for 12 months after funds are deposited.
To get the deal, This Is Money readers must sign up with this Trading 212 exclusive link*to claim, valid until the end of January.
You will need £1 to open a cash Isa and you can open it by downloading the Trading 212 app.
There are no limits to the number of times you can withdraw your money and Trading 212 will not reduce your interest rate to access your money.
Cash boost: New Trading212 customers will earn 5.05% on their Easy Access Cash Isa
Fundamentally, it is a flexible Isa that allows you to dip into your fund as long as you pay the money back during the same tax year. You don’t lose your tax-free wrapper or use any of that year’s £20,000 Isa allocation.
The new deal means Trading 212 is one of the only providers, along with Moneybox and Chase, to pay interest above 5 per cent.
Moneybox and Chase raised their Easy Access Cash Isa rates to 5 per cent last month, topping the best buy charts just days after the Bank of England voted to keep the base rate at 4.75 per cent. .
Behind Trading 212 and Moneybox are Monument Bank and Mansfield Building Society, which pay interest of 4.76 and 4.75 per cent respectively.
It means easy access Isa rates currently outperform fixings. The best one-year solution is offered by Shawbrook Bank and Castle Trust Bank at 4.53 per cent, while the best two-year solution is offered by Hodge Bank at 4.43 per cent.
Cash deposited at Trading 212 is fully protected by FSCS. Trading 212 Isa funds are held in bank accounts associated with Barclays, NatWest and JPMorgan.
Customers can see the percentage of their cash held at each bank in the “cash tab” of the Trading 212 app.
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Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence. *Chase: Refund available during the first year. Exceptions apply. Over 18 years of age, resident in the United Kingdom.