ISA season ‘gets off to an early start’

Many ISA providers have started their campaigns for new customers early this year, it has been reported.

According to Moneyfacts, many top providers have revised their products, including the likes of Alliance & Leicester, the Post Office and Santander.

These changes usually occur in mid-February, it noted, although 2010 seems to be an exception to the rule.

“For the first time since their launch in 1999, the top variable ISA rate is lower than that on a standard variable savings account,” noted Moneyfacts spokesperson Michelle Slade.

She suggested that the increased ISA allowance would give people a greater incentive to make sure their money is safely stored in a tax-free account.

Among the best offers Moneyfacts found on the market is the Premier ISA Issue 4 from Manchester Building Society, which offers a variable rate product.

Recent research from the site found that 72.5% of the most consistent savings accounts are offered by building societies.

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