Isa savings: Warning over temporary rates - AAD Consumer Forum

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5corpio started a blog post Isa savings: Warning over temporary rates
16 March 2011, 17:30

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Isa savings: Warning over temporary rates

Isa savings: Warning over temporary rates

Originally posted by 5corpio

Isa savings: Warning over temporary rates

Savers are being warned to check interest rates on Individual Savings Account (Isa) deals, so as not to be caught out by introductory offers. Many Isas are being launched with introductory bonus rates that run out after the first year, according to financial information group Moneyfacts.
These can then fall to a default rate offering small returns.

An Office of Fair Trading report found that about 11% of Isa holders switch to a new provider in a typical year.

Saving plan Tax-free Isas were introduced in the UK 12 years ago to encourage people to save. The latest figures showed that at least 17.5m people in the UK have....Read More Here
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