Very attractive Isa deals on offer, says moneysupermarket.com

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Very attractive Isa deals on offer, says moneysupermarket.com

Wed 30th Sep 2009

There are several competitive Isa deals available at the moment as companies prepare for the increased allowance for over-50s, according to moneysupermarket.com.

Kevin Mountford, head of banking at the comparison site, commented that this is an opportunity which should be taken advantage of, since he predicted that there may be increased taxes to deal with in the future.

The new Isa allowance comes into effect on October 6th and Mr Mountford claimed that many providers are vying to take a larger share of the market by increasing their interest rates.

He highlighted the longer-term deals available - of three years or more - as particularly profitable products if people can put their money aside for that long.

But Mr Mountford added: "Irrespective of whether or not you feel confident in going for longer-term fixed-rate Isas, all over 50s savers with the cash should make sure their Isas are fully topped up."

The Bank of England base interest rate currently stands at 0.5 per cent, although this could be altered by the Monetary Policy Committee when they next vote on fiscal policy on October 8th.

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