Savings update: no respite for last-minute cash Isa savers

Sylvia Morris

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Cash Isa rates are tumbling as savers look to use their £15,240 allowance for this tax year which ends on Tuesday (April 5) or next year’s, which starts on Wednesday.

National Savings & Investments has announced it will cut the rate it pays on its popular Direct Isa to 1% from 1.25% for all savers from June.

The top rate on easy-access cash Isa is 1.4% from Coventry and Skipton building societies. But the new Skipton account, Bonus cash Isa, includes a 0.4 percentage point bonus paid for the first 12 months after which the rate drops to 1%.

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Source Moneywise http://ift.tt/1qjUg63