I have just applied for the 7% interest cash ISA Saffron are offering but have just read a report on here that states the maximum interest that can be earned in 12 months is £136.50.
I was under the impression that if I deposit £3000 and pay £50 each month into the account, I could earn £252 in the year and obviously more than that if the monthly payments are increased.
Help!

Too many providers offer what seems like a high interest rate, yet it actually remains capped or otherwise restricted.

I'm afraid I'm not familiar with the saffron product, but it's worth looking at the conditions for any savings vehicle which claims to offer an exceptionally high interest rate on savings.