Donate SIGN UP

isa savings

Avatar Image
royzart | 18:08 Sat 17th Dec 2011 | Personal Finance
5 Answers
Hi...im thinking of opening a barclays isa saver 1
what are the advantages as opposed to a normal
savings account
Gravatar

Answers

1 to 5 of 5rss feed

Best Answer

No best answer has yet been selected by royzart. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
You don't pay tax.
yes BUT if you invest a lump sum elsewhere in a fixed rate account you may still make more profit!

have you checked out money supermarket.com?

cath x
You don't pay tax on the interest earned in an Isa but you need to keep an eye on the interest rate which will drop to next to nothing after a year. You can open another ISA in the following year and transfer your existing one to that. I open a new ISA ech year and transfer the existing one. Banks rely on the inertia of savers to keep their money for little interest.
6 years ago I got the amazing ISA deal - 6% for a fixed rate of 4 years. But that was then....These days, we are lucky to get 2.5% and that is with a first year bonus which is then removed.
It's a confusing market as to where you should put your savings, but my first choice is Premium Bonds (you get a chance to win £1m per month), then the best ISA you can get, then a savings account.
I will do as Johnk suggests and just keep moving my ISA each year.
get on money market supermarket ,com it tells u the best place to go

1 to 5 of 5rss feed

Do you know the answer?

isa savings

Answer Question >>