Beware Isa comparison websites

SAVERS shopping online for the best cash Isas have been warned to watch out for comparison websites pushing risky investments.

Experts say that some sites claiming to monitor the market for the best deals are comparing cash Isas, which offer less than 2 pc interest, with higher-risk investments offering up to 9 pc returns.

But, unlike cash Isas, the rates are not guaranteed and your money may not be covered by the Financial Services Compensation Scheme.

One site, best-isa-rates.com, appears after searching Google for cash Isas and states ‘compare top 10 Isa rates’ and ‘you can get 7 pc annual interest’.

Anna Bowes, co-founder of consumer website Savings Champion, says: ‘If you see a rate that is head and shoulders above what you have found on genuine cash Isa best buy tables, then alarm bells should be ringing.’