ISA

The Chancellor pulled a rabbit out of his Budget back pocket today, which is probably why he's been sitting uncomfortably for so long. The shock news is that from 1 July, cash and shares Isas are to be merged into one new, much bigger £15,000 tax-free savings and investing pot.

Savings rates are at an all-time low. But with less than a month left to take advantage of this year's Isa allowance, should you be using it?

NatWest, RBS and Ulster Bank are banning introductory bonus rates to get back to basics with simpler products. But MoneySavingExpert.com creator Martin Lewis says the move could result in even lower returns and less certainty for savers.

If you're an HSBC current account holder, you can now get up to 1.6% AER interest on your savings with the bank's new Isa – but it's not a market-leading deal.

Update: 6 February 2014: The RBS Group has confirmed that any missing interest has now been credited to affected NatWest and RBS customers' Isa accounts.

Hundreds of thousands of Lloyds Banking Group customers may be in line for redress after it was fined a record £28 million by the Financial Conduct Authority (FCA) over the way it put staff under pressure to sell insurance cover and investments.

Savers can put a little more money into cash Isas from next April, Chancellor George Osborne said today.

Three million NatWest and RBS Isa account holders will have their rates cut or boosted, as the banks are moving anyone with an old Isa to a newer deal.