January 18, 2017 | 5years | Investment News
It can't be denied that 2016 was a pretty shocking year for cash ISAs, but happily, the start of the New Year has brought with it a glimmer of hope for the sector, with our latest report revealing a slight uptick in average rate for the second month running.
Our figures, shown in the table below, reveal that the average long-term fixed ISA rate has risen by 0.01% this month to stand at 1.00%, following the same increase the month before, thereby bringing the average out of record low territory.
Granted, it isn't a huge increase, but in the current climate, anything is better than nothing! Not only that, but it's the first time the sector has seen a consecutive increase in rate since 2015, and although the average has still fallen by 0.88% in the last year, the latest boost is nonetheless welcome.
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