Savers can claim back up to £750 against any interest penalties or exit fees incurred from their existing provider when they transfer their cash ISA to the AXA Self Investor stocks and shares ISA .

The offer is open to new and existing investors, applies to transfers of at least £500 and transfers must be requested by 31 January 2017.

Savers have 30 days from the transfer completion date to make a claim and the transfer needs to remain with AXA Self Investor for a minimum of 12 months or you’ll be liable to pay back the money claimed.

AXA Self Investor charges 0.35% a year if you have up to £250,000 invested across all of your AXA Self Investor accounts or 0.20% per year if you’ve £250,000 or more invested, excluding any offers.

Adrian Lowcock, head of investing at AXA Self Investor, said: “Savers have been suffering from seven years of record low interest rates; the average interest paid on a cash ISA has fallen to 0.85% in December 2015 according to the Bank of England.

“AXA Self Investor is enabling savers to escape from their existing cash ISAs and get their money working hard to achieve their goals.”