Budget 2014: The key points for savers, including Isa boon

Here's a round-up of his main changes, and how they affect you (see our Top Cash Isas guide for current rates).

Savers will be able to put £15,000 a year in Isas

The Government will merge both cash and shares Isas from July - with the limit increased to £15,000.

This can be a combined £15,000 into either cash or investments, or a mixture of both. You'll also be able to transfer previous years' funds from stocks and shares Isas into cash, and vice versa.

Isas will be renamed New Isas (NISAs). See our news story: Cash Isa allowance up

Peer-to-peer loans can be included in New Isas

Money invested through peer-to-peer lending companies will also eligible for NISAs, although this is unlikely to be before 2017.

These firms unite individuals and companies looking to borrow with savers hunting for a good return.

The returns for lenders can be a whopping 7% interest, trumping the best savings accounts - but there are risks. See our Peer-to-Peer Lending guide for more on how it works.

New Pensioner Bonds for over-65s

If you're over 65, you'll be will be able to save up to £10,000 in new Pensioner Bonds from January 2015.

They will be taxed just like all savings income, so won't have the tax-free advantages of NISAs, but the Government promises they will be "market-leading".

That said, some pensioners will not pay any tax , as they do not earn enough, so this group will not be charged tax on their savings anyway.

It suggests they could be offered 2.8% AER for a one-year bond and 4% AER over three years, but full details will be announced in the Autumn Statement.

They'll be available through National Savings & Investments, which is fully-owned by the Treasury.

See our news story: Pensioner Bonds coming for over-65s

Premium Bond savings limit up

Currently, you can save up to £30,000 in Premium Bonds, but that's now going up to £40,000 from 1 June.

The number of £1 million prizes will be increased from August, but it's likely the chances of winning will therefore fall.

A further rise in the savings limit, to £50,000, in 2015 or 2016 is planned. See our news story: Premium Bond limit to rise

10% savings tax rate scrapped

At present, some low earners are charged 10% tax on savings interest, rather than the usual 20%. You qualify if your total earnings are less than the total of your personal allowance, plus £2,790.

In this scenario, the first £2,790 of taxable income on your savings is taxed at 10%.

But from April 2015 this group will not be charged any tax, AND the group will become even larger. From then, you will be able to earn £5,000 above your personal allowance in savings income without being taxed.

The Treasury says that effectively, it means anyone with a total income of less than £15,500 per year (the £10,500 personal allowance plus £5,000) will no longer pay any tax on their savings income.