Moneyfacts.co.uk rates best-performing cash ISAs

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Moneyfacts.co.uk rates best-performing cash ISAs

Moneyfacts.co.uk has published a list of the individual savings accounts (ISAs) which offered the best rates of return on cash investments over the course of the last financial year.

Alliance & Leicester's fixed-rate Premier Cash ISA offered the best outright return, but was only available to the bank's current account customers.

Bradford and Bingley's One Year Fixed-Rate ISA topped the table of those available to everyone, offering an interest rate of 6.25 per cent, which translated into a return of £3,825 on the maximum tax-free investment of £3,600 over the course of a year.

Michelle Slade, analyst at Moneyfacts.co.uk, said: "Unsurprisingly it was fixed rate cash ISAs that yielded some of the top returns.

"Savers who locked the rate on their money last year […] would have weathered the storm of interest rate cuts that followed as the crunch began to bite."

Variable rate ISAs may have suffered from rate reductions as the Bank of England reduced the base rate over the course of the last six months.

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