Cash ISA Rates Halve Over 5 Years

Interest rates on cash ISAs accounts have fallen to the lowest on record. Figures from Moneyfacts.co.uk show that the best easy access ISA rate has halved over 5 years

Kara Gammell 10 March, 2016 | 11:50AM
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With less than one month left of this tax year time is running out for ISA and pension investors – or anyone looking to boost their savings and reduce their HMRC bill. Read our Guide to ISAs, Pensions and Tax-efficient investing to make sure you don’t get left behind.

Individual savings accounts (ISAs) have long been the ‘go-to product’ for savers in which to stash their hard-earned cash, as they offer not only tax benefits but some of the most competitive rates on the market. However, with interest rates on these accounts falling to the lowest on record, many savers are starting to wonder whether they are worth the investment.

Relying on the personal savings allowance is a gamble; eventually rates will go up

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About Author

Kara Gammell

Kara Gammell  is a freelance journalist and author, specialising in personal finance and consumer issues, writing for Morningstar.co.uk

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