Savings interest rates 'led to record number of ISAs being sold in Q1'

The number of ISAs being sold to those looking for the best savings interest rates reached record heights in the first quarter of 2010.

Figures published by the Investment Management Association IMA have shown that this was the best net retail sales performance for this period in history and has been the overall best season since 2002.

Richard Saunders, chief executive at the IMA, claimed that the country's funds are at a level that would have been unthinkable a generation ago.

He said: "ISA sales for the last tax year are the highest since 2001-02, as was the year-end ISA season. The strong propensity to save, as seen in 2009, has continued this year."

Mr Saunders added that £ Strategic Bond and Global Bonds have been the two top selling IMA sectors this March.

This Is Money recently claimed that Lloyds Banking Group is offering better savings options than the Royal Bank of Scotland.

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2010-04-29 14:08:40 © Moneyextra.com