OakNorth Bank has raised the interest rate on its two-year fixed Cash ISA to 4.65 percent, earning an “excellent” Moneyfactscompare rating.

The account can be launched with a minimum deposit of just £1 and interest is paid monthly.

Commenting on the deal, Caitlyn Eastell, a spokesperson at Moneyfactscompare.co.uk, said: “OakNorth Bank has increased the rates on its fixed term ISAs this week.

“The 24-month option takes a competitive position in the fixed ISA market when compared to…