Isa savers 'should not be complacent'

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Isa savers 'should not be complacent'

Kevin Mountford, head of banking at moneysupermarket.com, explained that tax free Isas allowed consumers to earn interest on their savings and it would be a missed opportunity if they settled for a low paying account.

He said: "There are some good deals out there this year, including Santanders Flexi cash Isa at 3.5 per cent and Barclays Golden Isa at 3.1 per cent, and … savers have no time to waste."

Mr Mountford added that customers would benefit from products which provided bonuses and allowed them to take advantage before switching their account.

The Co-operative Financial Services recently revealed that a quarter of savers did not know their current Isa rate and just 28 per cent feel confident about their savings.

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