The average easy access Isa rate dropped to 3.15% in December from 3.24% in November, also marking the biggest drop since June 2020 and the lowest rate since September 2023.
UK savers see highest number of cash deal options on record amid rate cuts The selection of cash savings deals has hit its highest level since at least 2007, says the Moneyfacts website.
The typical one-year fixed Isa rate remained unchanged compared with the start of November, at 4.06% in December, which was still at its lowest point since June 2023.
The difference in rate between the average one-year and longer-term fixed Isa stands at 0.17 percentage points the narrowest gap Moneyfacts has recorded since September 2023.
Moneyfacts recorded 2,117 savings products, including cash Isas, available in December, marking the highest total since its records began in February 2007.
