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Have you joined the ISA rush?

Have you joined the ISA rush?

Category: Savings

Updated: 21/05/2010
First Published: 21/05/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
The new and improved ISA contribution limits have helped push the popularity of the tax free savings vehicles to new heights, new research has revealed.

More than a quarter (28%) of all searches conducted by savers on Moneyfacts.co.uk during April were for cash ISAs, while a similar amount of people (29%) searched for products allowing ISA transfers.

The most searched for savings products from the previous month, fixed rate savings accounts, attracted around 22% of consumer searches.

Since 6 April this year, anyone wanting to save into an ISA has been able to invest the new maximum of £10,200 tax free, £5,100 of which can be placed in a cash ISA.

Amongst the leading fixed rate ISA deals currently available through high street banks is a one year deal from Northern Rock paying 3.00%.

"Given their tax free status, an ISA really should be the first port of call for any discerning saver," said Michelle Slade, spokesperson at Moneyfacts.co.uk.

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