Best Isa season for nine years

People seeking the best savings rates will be pleased to see statistics from the Investment Management Association IMA.

The organisation revealed that this year has seen the best Isa season for nine years as, between March 1st and April 5th 2011, around £956 million was invested.

It also revealed that net Isa sales of £3.7 billion make 2010/2011 the second best tax year in ten years.

Jane Lowe, director of markets at the IMA, said: "The last two tax years have together seen a big jump in ISA inflows to more than £7.5 billion. This coincides with two increases to the annual allowance in October 2009 and April 2010 and compares starkly to Isa outflows of over £5 billion over the preceding five years."

Alan Easter, director of discount broker Willis Owen, said that the findings show people are still interested in seeking out Isas offering the best savings rates in which to invest their money.

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2011-05-10 13:00:12 © Moneyextra.com