Cash ISA versus Taxable savings

Mrspoppins | 19:52 Thu 12th Feb 2009 | Personal Finance

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Is there any easy way to compare cash ISAs against higher interest taxable savings accounts?

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Debt

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factor-fiction

Yes, look at the tate of interest payable on the higher rate account, multiply it by 0.8 or 0.6 ( to deduct 20% or 40% for tax according to your marginal rate) and compare that to the rate payable on the ISA.

Mrspoppins

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Many thanks factor30, That makes alot of sense when put so simply! Thanks agqin, MrsP.

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