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Is Now the Time for Savers to Check Last Year’s ISA’s?

Article posted on Tuesday, March, 8th, 2011 at 6:12 am

As the end of the tax year approaches, savers are being tempted with rates over 3% on new cash ISA’s but be aware because you could be earning as little as 0.05% on money you already have in these accounts.

It seems normal practice for banks to offer reasonably attractive initial rates on cash ISA’s, only to drop them dramatically after a year. For example, last March, Halifax Cash ISA Direct reward went on sale paying 2.6%, now savers will see this drop to 0.5%. This is a similar story for those who opened a Santander Flexible Isa at 3.5%, which has now dropped to 0.5% after 12 months.

This is a similar story with lots of other high street lenders including C&G, Lloyds and HSBC.

The simple rule is, if you have an existing ISA contact FindFinancialAdvice who will find you an experienced adviser who will help you switch to an ISA offering a higher return. The adviser will find those ISA accounts that accept transfers and fill in all the forms on your behalf … what could be easier?

 Contact FindFinancialAdvice to start earning more!

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