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Nationwide Hikes Rates as Record 712 Deals Flood Market and Savers Face Key Deadline
Moneyfacts said easy-access ISA rates rose to 2.73% and one-year fixed rates to 4.01% as providers compete for deposits.
- New data from Moneyfacts shows a record 712 cash ISA products currently available, the highest level since records began in 2007, as providers compete aggressively ahead of the new tax year.
- Caitlyn Eastell, personal finance analyst at Moneyfacts, said providers are "enticing new deposits with attractive deals" as competition is boosted by the final year savers can fully use their £20,000 allowance before 2027 rule changes.
- Nationwide Building Society launched new fixed-rate ISAs with returns of up to 4.50% AER, offering savers "choice" across short and long-term options as expectations grow rates could stay "higher for longer."
- Financial experts are urging savers to review their accounts now, with the new tax year providing a key opportunity to switch deals before markets pivot toward potential rate rises and inflationary pressures.
- While savers may enjoy more competitive returns, continued pressure from rising household bills and inflation could quickly catch up, making it essential to maximize returns before thresholds tighten in 2027.
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21 Articles
ISA deals hit record highs as savings rates climb above base
The latest Moneyfacts UK Savings Trends Treasury Report highlights intensifying competition among providers during ISA season, with rates rising across both variable and fixed products. However, while improved returns may support short-term cash positioning, inflation continues to pose a risk to real returns, reinforcing the need for careful portfolio balance. Caitlyn Eastell, Personal Finance Analyst at Moneyfacts, said: “This year the competit…
Coverage Details
Total News Sources21
Leaning Left2Leaning Right0Center16Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
Factuality
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