MoneyExpert.com: Lloyds TSB fixed-rate ISA

Sean Gardner, Chief Executive of moneyexpert.com, said: "With interest rates falling fixed-rate deals are a good bet and ideas such as Lloyds TSB's combi-rate are to be welcomed. Anyone stuck in a poorly-performing cash ISA should be looking around for a better rate.

"The top rate of 6.5 per cent is very competitive and is over a percentage point higher than the average of 5.36 per cent on balances of £9,000 or more. Savers who can afford to will do well if they take full advantage of this deal.

"However, 5.0 or even 5.15 per cent for amounts less than that is not such a great deal although it is fixed . The average cash ISA rate on balances between £3,000 and £9,000 is currently 5.28 per cent - meaning Lloyds TSB customers without large savings pots could do better elsewhere. Admittedly you can blow those rates out of the water with the combi offer as long as you have further funds to invest.

"Investors need to remember that the the deal lasts 12 months . At the end of the year they may need to think again with the cash ISA."