Savers set to benefit as ISA season starts early - Savings - News - Moneyfacts

News

Savers set to benefit as ISA season starts early

Savers set to benefit as ISA season starts early

Category: Savings

Updated: 22/01/2010
First Published: 22/01/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Savers look set to be the big winners after it was revealed the annual provider scrum for their ISA money had started early this year.

Aldermore, Birmingham Midshires, Leeds Building Society, Manchester Building Society, Newcastle Building Society and the Post Office have all unveiled new ISA propositions over the past seven days, according to research from Moneyfacts.co.uk.

With the deadline for savers to make use of their 2009/10 tax free allowance still ten weeks away (5 April 2010), it seems some providers are attempting to steal a march on their competitors.

"In previous years, it is usually mid February before the ISA season gets underway," said Darren Cook, spokesperson at Moneyfacts.co.uk.

"However, if providers are willing to show their hand at this early stage, it should mean that the competition between them will intensify further as the deadline approaches.

"If this happens, then the interest rates available on ISAs can be expected to rise too."

Savers over the age of 50 have this year seen their ISA limit rise from £7,200 to £10,200, of which up to £5,100 can be saved in a cash ISA.

The new limit will be applied to everyone from 6 April 2010.

Find the best savings accounts for you - Compare cash ISAs

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings being used as a festive financial buffer

Good news from RCI Bank UK – its latest research shows that many of us are saving more than we were a year ago, but the question is, will you be dipping into that buffer to cover the cost of Christmas?

6 of the best easy access savings accounts

Easy-access savings accounts are as simple as they sound – they allow you to access your money whenever you need it, without having to give advance notice, and they also allow you to pay into them at any time. Here are six of the best.

Start saving for Christmas… 2017!

Christmas is just around the corner and our annual festive splurging is starting to step up, but are you prepared? It may be too late to start saving for this year’s festive spend, but it’s never too early to start for next year’s!
 
Close