Surge in cash ISA demand as consumers rush to protect savings

Surge in cash ISA demand as consumers rush to protect savings

New analysis suggests millions of Britons are at risk of a tax raid on their savings, resulting in a surge in demand for cash individual savings accounts (ISA)

AJ Bell: ISA use hits 13-year high as savers rush back to cash - IFA Magazine

ISA contributions hit a 13-year high in 2023/24, with savers adding £28bn to Cash ISAs and parents putting over £1bn into Junior ISAs. Laura Suter of AJ Bell says the figures show ‘a strong rebound in savings but persistent inequalities. Laura Suter, director of personal finance at AJ Bell, comments on the latest annual savings statistics: “ISAs are back in fashion – for the first time in 13 years the number of ISA accounts adults paid into has …

Cash ISA savings surged to £70 billion as savers grabbed higher rates – but could the best deals be disappearing?

Almost 10 million people put money in cash ISAs in 2023/24 as UK interest rates climbed to 5.25% – but a series of cuts could mean inflation is eating away at your savings now