‘Far greater return’ The ‘challenger’ banks that are offering over 3% interest rate | Personal Finance | Finance

When it comes to whether to choose an ISAs over a svaings account, the expert said this could be a better option for higher-rate taxpayers.

Mr Sprawling added: “ISAs remain an excellent way of building a savings pot, particularly for higher-rate taxpayers or those with significant savings in non-ISA accounts who may be incurring interest beyond their personal savings Allowance.

“The task then for savers now looking ahead to 2023 and beyond is find the right products for their circumstances, to not limit the range of products and providers they consider, and to make the best decision for them at the right time.

“This is not the most exciting thing on anyone’s to-do list – but one which you may end up regretting if you hold out for rates that are not likely to transpire.”