Cash ISAs earning pennies on thousands-papers

Some ISAs are earning customers pennies in interest on thousands of pounds of savings, according to The Daily Mail. In April 1999 when tax-free cash ISAs were launched, they were the top-paying accounts at every bank. But in a stark reversal in some cases today they are the worst, with banks sitting on a large pot of funds on which they pay little interest. More than 18 million savers have £167m in cash ISAs . In April 1999, cash Isas earned an average 6.32pc - 1.07 percentage points above base rate. Now the average is 0.41 pc - 0.09 points below base rate. Tax relief was wor...