Thousands of Savers Flock to Cash Isas Amid Rumors of Reduced Allowance: Expert Tip to Maximize Interest Rates

Savers deposited £14.3bn into cash Isas in April, a 24% increase YoY. Banks like Lloyds and Santander offered competitive seasonal fixed rate Isas, but rates have fallen since. Savers are advised to switch to better-paying accounts, as base rate cuts will impact rates. Top rates for cash Isas are around 4.38% from Kent Reliance, 4.31% from Charter Savings Bank, and 4.3% from Family Building Society.