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C&G to rise interest rates on investment products

Former building society Cheltenham & Gloucester is hiking the interest rates it pays on its investment accounts.

The C&G Cash and Tessa Isa rate is being reduced to 6.75 per cent from 7 per cent a year.

Its Direct Transfer telephone account will pay 6.10 per cent a year when £25,000 or more is invested, and 6 per cent at the lowest balance of £2,500.

The changes are effective from August 18.

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