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ISAs | Finance

ISA rate reductions

Just in time for today's ISA allowance increase for the over 50s, Rumina Hassam, savings expert at uSwitch.com comments on recent rate reductions: "With 21 million over 50s eagerly awaiting tomorrow's ISA limit increase, it's really disappointing to see that four providers have cut their rates in the recent weeks, despite the static base rate.

New ISA launches

Commenting on the recent spate of ISA launches, Kevin Mountford, head of banking at moneysupermarket.com, said; "Clearly some providers are looking to maximise their share of the over 50s savings market, with product launches timed to coincide with the extension of the ISA limit for the over 50s.

Don't miss out on extra ISA allowance

New research from Sainsbury's Loans reveals that there are currently just four lenders, of which it is one, offering an APR of less than 8% on unsecured loans on loan amounts between £5,000 and £15,000.

Saga offers more to savers with launch of new cash ISAs

Saga Personal Finance launches two new cash Instant Savings Accounts (ISAs) on 1st April 2009 giving customers the choice of receiving interest monthly or annually.

Lloyds TSB increases rates on Fixed Rate Cash ISA

Lloyds TSB has announced that it will be increasing rates on its Fixed Rate Cash ISA by up to 1 per cent.

Wary of equities? Invest in a Cash ISA

TISA - Tax Incentivised Savings Association - is urging investors who are wary of equities to ensure they maximise contributions towards their Cash ISA as this can be used to purchase a Stocks & Shares ISA at a later date, without leaving the tax free wrapper.

ISAs enter the 21st century… at last

ISA transfers - long the bane of savers around the country - are at last going electronic with some major providers.

Only days left to make the most of this year’s ISA allowance

As the deadline for the end of this tax year looms (5 April), savers are being urged to make the most of their tax-free allowance in a cash ISA. According to research from Alliance & Leicester Savings one in eight of those surveyed (13 per cent) have saved in a cash ISA this tax year, but have not reached their limit yet and only a fifth (18 per cent) plan to save the full £3,600 limit this tax year.

Savers in the dark over advantages of tax relief

The third annual Scottish Widows Savings and Investments Report reveals that the vast majority (72%) of people who did not save money in the past 12 months want to start saving for the future. However, only a quarter (24%) of people plan to take out an ISA in the next tax year, with a further 16% uncertain whether they will or not. Of those that do not plan to take advantage of their tax-free allowance, 43% state the reason for this as not being able to afford to save, but one in ten say that it is because they don't know anything about them.

Use it or lose it - and beat low rates

Record low average interest rates on cash ISAs and ongoing stock market volatility will mean millions of savers deciding to lose it rather than to use it when the 2008/2009 tax year comes to an end, warns Virgin Money.

IMA calls for more ISA incentives

The Investment Management Association (IMA) calls on the Government to raise the ISA allowance to £9600 and consider introducing more incentives for saving.

ISAs celebrate tenth birthday

The 6 April 2009 sees not only the start of a new tax year, but also the tenth anniversary of the Individual Savings Account (ISA), the Government's tax-efficient scheme designed to encourage people to save.

ISA savers offered a tasty morsel

Commenting on the upcoming regular saver ISA from Principality Building Society, Kevin Mountford, head of banking at independent comparison site moneysupermarket.com, said: "The battle for savers in the new financial year has started early with the launch of the Principality regular saver ISA fixed at five per cent for the next tax year.

Left ISA investment to the last minute? Apply online

As the ISA deadline approaches this Sunday, Fairinvestment.co.uk is reminding investors that they can still invest online until late on Sunday April 5 for many ISA products.

Principality launches 5% regular saver ISA

Principality Building Society has kicked off the new ISA season with a regular saver ISA paying a market-leading 5.00% AER tax free, fixed until 5 April 2010.

Lloyds to participate in electronic ISA transfer process

Lloyds Banking Group has announced its participation in the new electronic ISA transfer process. The Group has been working with the British Bankers' Association (BBA) and other savings providers to adopt the process ahead of the new tax year.

Innovative ISA schemes offer ‘extra' tax-free help to savers

People in the East Midlands are being offered the opportunity to double their ISA savings power - and earn nearly £200 annually in extra interest.

Invesco offers 2% discount on ISA investments and ISA transfers

Invesco Perpetual will continue its current 2 per cent discount on the 5% initial sales charge for all new ISA investments and ISA transfers. This includes ISA monthly savings and phased investment options.

Nationwide welcomes ISA limit expansion

Having called on the Chancellor to raise the ISA limit, Nationwide Building Society welcomes the announcement in today's Budget that savers will be able to deposit £10,200 - an increase of £3,000 - into their ISA this year. However, while the expansion of the allowance in this tax year is a positive move, the Society would like to see further improvement made that will help engage consumers about the importance of saving.

ISA Direct Reward hits 100,000

Halifax has opened more than 100,000 new ISA Direct Reward accounts in just over six weeks as savers choose Halifax for their tax free investments. Launched on the 24th February, the ISA Direct Reward offers a guaranteed interest rate of 3.00% AER/Gross for the first year.

Chelsea launches Postal Fixed Rate Cash ISA

Chelsea, the UK's sixth largest building society, has launched a new Chelsea Postal Fixed Rate Cash ISA. The account complements Chelsea's existing ISA offering. Chelsea already offers two other ISAs: Postal 30 Cash ISA and Chelsea Branch Instant Cash ISA.

Be an ISA early bird to maximise your tax-free returns

While the end of the tax year often sees people rushing to sort out their financial affairs, savers are being urged to start the new tax year as they mean to go on and get the most from their tax-free savings by snapping up a great cash ISA rate now. Research from Abbey Savings reveals that while the average amount saved in cash ISAs for the tax year 2008/09 was £2,082, only a third of savers (33%) were savvy enough to have earned the maximum tax-free return by paying in a lump sum at the start of the last tax year.

Barclays Stockbrokers equity ISA sales increase

Interest rates have fallen to record lows this year, and investors have to work harder to get returns. As a result, Barclays Stockbrokers has seen new ISA account openings increase significantly (up by 37%) in the 2008/9 tax year end period compared to the same time last tax year. Existing investors are also ensuring that they make the most of their tax free allowance; top-ups (additional contributions into existing ISA accounts) in the tax year end period have increased by 69% compared to last year. Barclays Stockbrokers has seen assets under administration (AUA) invested in ISAs for the 2009 tax year end period increase by 150% compared to the previous year5. This trend looks set to continue into the new tax year, with 85% of investors planning to invest in an ISA in the 2009/10 tax year.