Apr 13 2007
While many providers are aiming to entice savers to take out an individual savings account (Isa), a financial services comparison firm has reminded savers not to forget about their existing Isas taken out in previous years.
Moneyfacts has urged consumers to review their finances and to check they are getting the best deal on their existing Isas, and advises investors to move their funds to a provider offering a better return.
The company recommends that while some offers are available only for new investments, there are still beneficial interest rates and bonuses on offer for transferred funds.
Rachel Thrussell, head of savings at the firm, said: "To maximise your Isa returns, it is best to take advantage of the best current deal for your 2007 allowance and move your existing contributions to the best possible provider."
She added that investors should check the interest rates on their Isas at least once-yearly to ensure they are getting the best deal.
Last week, Abbey warned that the potential lost interest if Britons delay investing in an Isa until the end of the tax year could reach nearly £3 billion.
