Cash ISAs dwindle: Savers should act 'sooner rather than later' for best deals

04 June 2009 / by Rachael Stiles
Some of the best cash ISA deals of recent months have started to disappear off the shelves, so savers should waste no time in snapping up a competitive rate, according to finance website

This week has seen the rates slashed of some leading cash cash ISAs, or they have been withdrawn altogether, just two months into the new tax year.

Commenting on some of the key changes to the cash ISA market this week, Andrew Hagger of, said: "It's starting to look as if some providers may have reached their targets for ISA deposits already and are content to offer a poorer deal to those who have been slow off the mark."

Some of the providers to reduce the interest rate on their previously market leading cash ISAs have included some of the major high street banks, such as Barclays, Halifax, and First Direct,'s analysis has found.

Barclays' Golden ISA offered a bonus rate which is no longer available to new customers, Halifax was offering an attractive fixed rate ISA which has been withdrawn, and First Direct's online e-ISA has been replaced with one offering a far less attractive rate.

So, Mr Hagger recommends, "if you haven't invested your ISA cash for 2009/10, even though there are still 10 months still to run in this tax year, it may be prudent to make your choice sooner rather than later before some of the other top deals disappear too."

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