NS&I claims cash Isas offer some of the best rates on the market

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NS&I claims cash Isas offer some of the best rates on the market

A finance expert from NS&I has lauded the return offered by many cash Isas, suggesting there are few products that deliver a better rate of interest in the low-risk market.

Sales director at the firm John Prout described how such financial tools are now the "first port of call" for many individuals when they are planning to put money aside.

In his view, this is positive news, since cash Isas offer some of the most competitive interest rates among the various lower risk savings vehicles.

"The increase in the Isa allowance last April will inevitably have encouraged more to be invested in Isas and that is certainly a good thing," said Mr Prout.

He also highlighted how any money deposited in this type of Isa is fully protected from any tax liability.

According to HMRC, the quantity of money being put into cash Isas has risen seven per cent in the 2009-10 financial year compared to the previous 12 months.

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