Analysis by MoneySuperMarket found only two of the top ten easy access ISA accounts allow transfers in from previous years ISAs, which is bad news for savers who have built up a nest egg over time.

Other deals such as Harpenden Building Society’s market leading rate of 2.25 per cent AER and Ecology Building Society’s 2 per cent are restricted to current members, while people wanting to apply for the 2 per cent offer from Vernon Building Society must live within a 25-mile radius of Stockport.

The research also found that bonus rates have diminished over the past year. HSBC is the only provider in the top ten to offer a bonus rate with its Loyalty Cash ISA product – but this is available to Premier customers only.

These restrictions add to an already-miserable outlook for savers this ISA season.

Based on the current full ISA allowance of £5,760, the average rate on easy access cash ISAs stands at 1.79 per cent, compared to 2.29 per cent this time last year and only three of the top 10 accounts offer rates that beat the current rate of inflation of 1.9 per cent.

However, it is not all doom and gloom with some inflation-busting fixed rate ISAs available for those who are able to lock their money away.

Skipton Building Society, for example, is offering 3 per cent AER on its Five Year Fixed Rate Cash ISA, which allows transfers in, while Halifax’s ISA Saver Fixed 3 Year product offers 2.25 per cent.

Kevin Mountford, head of banking at MoneySuperMarket, said: “The stats paint a miserable picture for ISAs at the moment, though there is still time left for changes to be made ahead of the next tax year. At the moment, savers really have to scour around to find the best deal to suit their needs, especially since bonus rates on ISAs have all but disappeared.”