Savers have relatively little time to use their £20,000 cash Isa allowance for this tax year before the 5 April deadline. Around this time every year, banks and building societies generally bring out new accounts to tempt savers with better rates. But this year, so far, things have been pretty quiet on the Isa front.
Savers desperate for top rates on their easy-access savings have snapped up the 1.5% Marcus account on offer from the mighty Goldman Sachs. In the first 40 days after its launch in late September, it had clocked up no fewer than 100,000 customers.
On easy-access accounts Shawbrook Bank Easy Saver and RCI Bank Freedom Account both pay a top 1.3 per cent. AA has raised the rate on its Members Savers to 1.3 per cent for new applicants, but the account is only available to those who are members of the organisation.
Banks and building societies are making it hard for savers searching for top easy-access deals. They are coming out with so-called easy-access accounts with rates of 1.3 per cent – but savers often have to jump through hoops to earn this headline rate.
Building societies and smaller banks are launching accounts in the first flurry of better-paying deals for years.
Cash Isas have lost their sparkle since the personal savings allowance came into effect in April 2016, but shouldn’t be completely ruled out.
Sylvia Morris runs through some last-minute tips for savers looking to add to their Isa allowance ahead of the tax year end.
Savers are now able to stash up to £20,000 in a cash Isa. Here we round-up the best Isa rates and deals.
Savings rates are expected to rise following the Bank of England's decision to nudge interest rates back up to 0.5 per cent.
Easy access accounts remain popular, but savers must read the small print to ensure they remain on the best rate.