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AA tops Best Rate table with cash Isa

Bonus increased from 1% to 1.65%

The Post Office improves rates for savers

The AA’s savings operation has upped the ante in the Isa battle by raising the bonus on its main Internet Isa from 1% to 1.65%.

The increase in the bonus means that the AA Internet Access Isa is now offering 3.35% tax free and sits at the top of our instant access cash Isa  Best Rate tables.

However, it should be noted that the AA’s Instant Access Isa offers the bonus of 1.65% for 12 months and does not allow transfers in from other cash Isas.

Use your cash Isa allowance

Paul Davies, banking analyst at Which?, commented: ‘The attractive deal from the AA is a timely reminder that people should use up their cash Isa allowance of £5,100 for 2010/11 if they haven’t already done so.

‘The tax year ends on 5 April 2011, but you need to apply for the AA’s market-beating Isa by 28 March 2011 to meet this year’s Isa allowance deadline.

‘Remember to check when the bonus period ends on the AA’s deal and make sure that the drop-off rate is comparable with the rest of the market if you aren’t prepared to switch again.’

If you need more information about cash Isas now is the time to look in advance of the end of the tax year and try to keep an eye on how rates are doing at the top end of the tables.

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