ISA ISA, Baby

Daniel Liddicott
April 2024  •  2 min read

ISA ISA, Baby

It came to our attention recently, after a number of queries, that there may be some confusion around when an ISA provides interest and when it provides investment returns. If you are unsure or have been wondering about this yourself, then I hope that this short blog is of interest to you (pun intended, of course).

Cash ISAs produce interest. Stocks & Shares ISAs provide investment returns.

Most Cash ISA providers are able to tell you ‘up front’ what your interest rate will be.  In contrast to this, the growth rate in a Stocks & Shares ISA is not known at the outset – it’s only by looking back at performance that you know what it has been over a period of time.

All ISAs that are held by our clients on the Nucleus or Fundment platforms are Stocks & Shares ISAs and, as the name suggests, the funds held within these are invested in stocks/equity. Therefore, these provide investment returns, unlike their Cash ISA counterparts.

We have also received some queries about the investment term for ISAs. For Stocks & Shares ISAs, it is essentially however long you are willing to leave the funds invested for. And the longer the better! This way, you give your investments time to recover from all of the expected fluctuations in value that the stock market is subject to, providing the prospect for real growth of your ISA funds over the longer term.

Cash ISAs do often come with a particular term attached and, as a general rule, the longer you are willing to leave your money ‘locked away’ in one of these ISAs, the better the interest rate that you will be able to obtain.

As an example, you might opt to place your funds into a Cash ISA with Nationwide for the fixed term of one year, with the agreement that Nationwide will pay you a certain amount of interest over that time period. The interest that you receive on the one-year fixed term is highly likely to be greater than if you were to opt for an ISA that you can dip in and out of as you please without any restrictions.

If you would like to read a more detailed blog on ISAs, you might find this helpful:

What is an ISA?

ISA ISA, Baby2024-04-24T17:02:23+01:00

What IS an ISA?

Daniel Liddicott 
Sept 2023  •  12 min read

What is an ISA?

An Individual Savings Account (ISA) is a tax-efficient account available to residents of the United Kingdom. The main perk of an ISA is that any interest, dividends or capital gains you earn within the account are exempt from income tax and capital gains tax (CGT). This means that the money you make from your investments stays ‘in your pocket’, helping it grow faster over time.

Types of ISAs:

There are several types of ISAs, each designed for specific savings goals and risk tolerances:

  1. Cash ISA: This is similar to a regular savings account, where you deposit cash, and it earns interest over time. It’s a low-risk option ideal for short-term savings goals
  2. Stocks and Shares ISA: If you’re willing to invest with a long term mindset, a Stocks and Shares ISA allows you to invest in stocks, bonds, and other financial instruments. Over the long term, this can offer better returns than a Cash ISA
  3. Lifetime ISA (LISA): Aimed at helping you save for your first home or retirement, the Lifetime ISA provides a government bonus on your contributions. You must be between the ages of 18 and 39 to open a Lifetime ISA. There are some restrictions on withdrawals, so it’s essential to understand the terms
  4. Junior ISA (JISA): If you’re under 18, a Junior ISA is designed for you. Parents or guardians can open one on your behalf, and it can be converted into an adult ISA when you turn 18

A simple breakdown of how ISAs work:

  1. Choose your ISA type: Determine your savings goal and risk tolerance. For short-term goals or risk-averse investors, a Cash ISA might be best. If you’re looking to grow your wealth over the long term, consider talking to us about a Stocks and Shares ISA
  2. Open an ISA account: You can open an ISA account through banks, building societies, investment platforms (if you use a financial adviser), or even online. It’s a straightforward process, requiring some personal information
  3. Contribute: You can make deposits into your ISA account of up to £20,000 each tax year. Keep in mind that Junior ISAs have a lower limit of £9,000 each tax year. These are separate allowances, so depositing £9,000 into your child’s JISA does not count towards your own ISA allowance of £20,000.

You can contribute up to £4,000 per tax year into a Lifetime ISA, which will use up some of your ISA annual allowance. This means that you could contribute a further £16,000 to another adult ISA. The 25% bonus that you receive from the Government on your Lifetime ISA contributions do not use up your ISA annual allowance, meaning that you could have £21,000 added to your ISAs in this way each tax year (£4,000 to your Lifetime ISA + £1,000 Government bonus + £16,000 contribution to other adult ISA).

If you have a child who is 16 or 17 years old, they are entitled to both a Junior ISA and an adult ISA, meaning that they are also entitled to BOTH of the annual allowances that come with them. This means that the amount that can be saved into ISAs on behalf of these teenagers can increase from £9,000 per year to £29,000 per year. Note that the adult ISA during this transition period must be a cash ISA. Once they turn 18 years old, however, their annual allowance will revert back to the standard £20,000 per tax year – so there are only two years in which to take advantage.

  1. Invest: If you opt for a Stocks and Shares ISA, you can start investing your money in a diversified portfolio of assets. Remember, investing carries risks, and it’s crucial to do your research or seek advice
  2. Earn Tax-Efficient Returns: Any interest, dividends, or capital gains you earn within your ISA account remain exempt from CGT and income tax. This is a significant advantage that can help your wealth grow faster. You might easily fall into the trap of thinking that ISAs are tax-free, but that isn’t the case. ISAs are subject to inheritance tax (IHT)
  3. Monitor and Manage: Keep an eye on your ISA’s performance and ensure you stay on track with your savings goals (or use a financial adviser to do this for you). As you get older, your priorities may change. People often shift in their approach towards certain things for a variety of reasons. This could manifest itself as a change in attitude to investment risk, for example; or taking a decision which requires capital such as purchasing a property.

General tips

  1. Start Early: The earlier you start saving or investing, the more time your money has to grow due to the historical long-term nature of markets.
  1. Government Bonuses: If you opt for a Lifetime ISA, you can benefit from government contributions. You can deposit up to a maximum of £4,000 into a LISA each tax year and the government will contribute 25% of what you deposit. You can do this each year until you reach the age of 50. The funds within a Lifetime ISA can only be accessed without penalty for the purchase of a first home (maximum value of £450,000) or once the account holder has passed 60 years of age. Should you wish to dip into this ISA for any other reason, you will be charged 25% on the withdrawal – and you don’t just lose the amount of bonus you receive:

Example:

£4,000 contribution + £1,000 bonus = £5,000

£5,000 withdrawal – £1,250 (25% penalty) = £3,750

Result = a loss of £250 (6.25% loss on the original £4,000 contribution)

Conclusion

Understanding ISAs is an important step towards securing your financial future. Whether you’re saving for a car, a house, or your dream holiday, ISAs offer a tax-efficient way to grow your money over time. Remember to research your options, set clear savings goals, and consider seeking financial advice if you’re unsure about your investment choices. With the right approach and discipline, you can use ISAs to build a solid foundation for a prosperous financial future.

What IS an ISA?2023-12-01T12:12:28+00:00

ARE YOU MISUSING YOUR CASH ISA?

TODAY’S BLOG

ARE YOU MISUSING YOUR CASH ISA?

You may have gathered that I am not a fan of the Cash ISA. If you really must have one, then you need to be clear that you are getting a top rate of interest (less than 1% at the moment) and that you are not locked in for too long. If you expect rates to rise, why on earth would you lock in to one?

We all have a personal savings allowance. That’s £1000, £500 or nothing depending on your highest rate of tax. Basic rate (20%) taxpayers have a £1000 savings allowance (interest from savings) and those that are higher rate (40%) have a £500 allowance. Therefore, majority of people will have at least £500 of interest that they can earn tax free. Today that means holding around £50,000 of cash, which is a little under twice the average national income. According to ONS data to the end of the 2019/20 tax year, that’s £29,900 (median household income).

As I have said before, I am a great believer in holding cash. It provides for projects and emergency. Good planning – which is something that you already do better than most because you are here today, means getting a realistic estimate for something you intend to do and setting that aside prior to starting the project. This is therefore based on your research, quotes, and prudence to allow a sensible margin for error, or builder maths.

Wheat and Chaff

CASH FOR EMERGENCIES

Then there is your emergency fund. This is entirely subjective. It is an amount that enables you to sleep at night knowing that if something disastrous happened by the time you woke, you and your family would be able to cope financially. Things like loss of your job, the boiler breaking down, your car being vandalised or stolen, perhaps even a quick getaway fund from an abusive relationship. You might relate this number to how much you normally spend each month and hold a multiple of that.

RISKS CHANGE AS YOU AGE

Those that have a guaranteed income (people that are retired and living on State Pensions, annuities, or final salary pension benefits) arguably don’t need to worry about the loss of a job or their income. Its more likely that, if that’s you, you think of the extra income sources – from your investments or perhaps a holiday home that is let during a pandemic.

Most people will probably not need more than £50,000 (in 2021) but I did say it was subjective and personal to you. Cash doesn’t really work for you; it works for a bank who lend your money out at a rate that makes them rather more than they offer you to “store” it with them. If this drags on for months and years, you will undoubtedly see the spending power of your money reduce due to inflation. It needs to do some heavy lifting, which means investment. This comes at the price of market volatility in the short term, but if done properly, will deliver greater yields.

PARABLES ABOUT BARNS AND GRAIN

To my mind, it’s like an arable farmer keeping all their seed (cash crop) in a barn and not sowing enough. At some point, the barn will run out as its consumed or rots, missing out on all that multiplication and future harvests.

Anyway, given that most people don’t need to hold much more that £50,000 and would get the interest on it tax free anyway, there is no point using your valuable ISA allowance to give you something you already have.

Of course, this is what a plan will help determine and why understanding what the money is for and the reasons for your anxieties about money. Do get in touch.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

GET IN TOUCH

Solomon’s Independent Financial Advisers
The Old Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

Email – info@solomonsifa.co.uk 
Call – 020 8542 8084

7 QUESTIONS, NO WAFFLE

Are we a good fit for you?

GET IN TOUCH

Solomon’s Independent Financial Advisers
The Old Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

Email – info@solomonsifa.co.uk    Call – 020 8542 8084

7 QUESTIONS, NO WAFFLE

Are we a good fit for you?

ARE YOU MISUSING YOUR CASH ISA?2023-12-01T12:13:02+00:00

Cash for ISA Questions

Solomons-financial-advisor-wimbledon-blogger

Cash for ISA Questions

Let me be very clear – I LIKE CLIENTS TO HAVE CASH… its VITAL. The real question is “what is a sensible amount of cash to hold?” This will be different for everyone. Cash should really be available for planned expenses within the next 0 to 3 or 4 years, that way you know its there ready for your use. Thereafter, cash is vital to run any business and any personal finances. Whilst budget calculators and spreadsheets suggest nice neat twelfths, many costs are not monthly. As thoughts turn to Christmas – this is something we all know happens annually, once the presents have been unwrapped and you start looking forward to the potential of the new year, thoughts turn to summer holidays… and so on. So having cash on deposit is a very good and wise thing and don’t forget that some expenses are unplanned – such as repairs or replacements due to loss or damage.

Interest rates are so low is it worth bothering with a Cash ISA?high_and_low

The short answer is “maybe” – it rather depends on your circumstances and when you need the money. Sadly, despite ISA allowances never being higher, interest rates haven’t been lower in living memory. Many if not most, deposit accounts are paying less interest than the rate of inflation (1.3% according to ONS). So your pound is declining, slowly, in purchasing power. This is an unfortunate reality that we currently live with. I would also take issue with official figures about inflation which bears little resemblance to the spending patterns of various people (think of the price increases in gas, electricity and rail).

Just to be clear… what is a Cash ISA?

A Cash ISA is simply a deposit account where interest is tax-free. Interest is taxable normally and should be reported on your HMRC self-assessment tax return. The amount you can put into a Cash ISA is linked to tax year allowances and the ISA rules (all of which are within our free APP or you can look them up). These changed in July 2014, lets stay brief and current, the new allowance is £15,000 each for the current tax year. You can now hold all of the allowance as cash or as investments, or any combination between the two within an ISA (previously you could only contribute 50% of the ISA allowance towards cash). As a result of the new rules, you can have a more suitable balance between cash and investments within your ISA to suit your requirements.

Should I just pick the best rate?

A word or warning, picking a cash ISA (or any deposit account) based entirely upon the headline rate, may not be wise. Perhaps you will remember the Icelandic banking crisis in 2008, which ought to provide some cautionary tales.

It is worth the effort?

It depends on your current rate of interest within your ISA and what the alternatives are. Remember that an interest rate of 1% will be worth 0.8% to a basic rate taxpayer and 0.6% to a higher rate taxpayer. Within an ISA you get the full untaxed amount. However if the sums are small or modest, say £10,000 then shopping around for an extra 0.5% is only going to provide £50 over a year, which given that if the better new rate is with a different Bank (or Building Society) you have to go through the ususal opening an account procedures – demonstrating your identity and UK residency and so on.

If this cash is just a part of my portfolio, should it now be mixed within my investment ISA?

Maybe. If you have a modern investment ISA on a “platform” which holds lots of funds, shares etc, then the platform may well have cash deposit options too. However be warned that platforms generally charge for their adminstration based on the balance on it, so you may well (probably) get charges for cash holdings too. If its ok at your Bank/Building Society then as long as your adviser knows that you have it and therefore not “too much” in cash, that should be OK. However for long-term wealth I would encourage people to use an ISA as an investment vehicle, rather than a place to dump cash as savings. Context is everything and needs thoughtful assessment with an adviser.

So where can I find current ISA rates?

Try looking here at Moneyfacts. However, I suggest doing a proper search using their search engine or any other that is widely available. Remember fixed rates are lock-in’s. If you think rates will rise, then you may wish to question the wisdom of locking into a low rate that is fixed for ages and if you are really locking away cash for 4 years or more, then perhaps you should be thinking about investment instead.

Anything else I should know?

Well, the age old one about bias. Financial advisers and financial planners like me are in part remunerated based upon the amount of money we look after, so if you invest more, we earn more. Of course the hope and expectation is that this is a very worthwhile exercise for you – getting better returns etc (but more importantly getting your money right for you). However it needs to be clear that its not free. Of course a Cash ISA with a Bank/Building Society can appear free – there are rarely any charges, but that doesn’t make it free. This is part of the problem with the delusion that the retail banking system maintains – that banking is free. It isn’t. The bank invariably pay bonuses to their staff for new accounts opened.  They lend the money back out at far higher rates of interest and make profit as a result.  However that money is at risk (of not actually being repaid to the Bank) and possible Bank collapse – hence the £85,000 FSCS protection and of course there is the inflation to also consider, you may actually be losing money – as many people are if their rate of interest is less than the rate of inflation (which is the majority of current accounts and many savings accounts).

A final point – this (the above) is not advice. You should naturally always plan with your own goals and context. A Cash ISA can be a very good tool in your financial box, but it may also be a rather blunt instrument – it all rather depends on the job at hand and the degree of skill you have using it. Here is a decent little video from Nationwide which is pretty clear. I’m not promoting Nationwide and depending on when you read this the information may be out of date. However the principles are right… oh yes, Nationwide do not pay me to mention them… so no cash for promotions.

I hope this is helpful.

Dominic Thomas

Cash for ISA Questions2023-12-01T12:39:41+00:00

Cash ISA rates

It has been a while since I updated information about various deposit rates. I’m providing a list here of some of the top rates available. This is not advice, just a list. Importantly with cash accounts the FSCS only cover up to £85,000 per person per bank and be warned that this really means per banking license. Many banks (and building societies) share the same banking license due to mergers. The table below shows instant access deposit accounts, then fixed and variable rate Cash ISAs.

INSTANT ACCESS  Best online  West Bromwich BS 2.30%
 Best High Street Bank  Virgin Money 2.00%
 Best Building Society  West Bromwich BS 2.26%
FIXED RATE CASH ISA  Best online  NatWest 2.30% 3 year fixed
 Best High Street Bank  Santander 2.50% 2 year fixed
 Best Building Society  Derbyshire BS 2.25% 2 year fixed
VARIABLE RATE CASH ISA  Best online  Monmouthshire BS 2.50% 30 day notice
 Best High Street Bank  Virgin Money 2.00%
 Best Building Society  Earl Shilton BS 2.70% 90 day notice

So it is important that this is checked carefully. Please also note that I am generally fairly suspicious of any bank or building society offering particularly high rates, this suggests that they need your money rather more than other banks do and this is generally not a good prospect.

Quite obviously interest rates are pretty dreadful. As RPI is currently 3.1% and CPI is now 2.7% (according to ONS figures) the above all represent below inflation rates. This means that your money devalues in real terms. In plain English – the money in your pocket is worth less due to inflation. Here is a good short video from the Bank of England about inflation with some useful historical reminders. Note that as this is a Bank of England video, whether or not the MPC (Monetary Policy Committee) has been successful or not is probably best judged by others. At the moment the Bank of England base rate is 0.50%.

Cash ISA rates2023-12-01T12:23:25+00:00

Cash ISA latest rates

Latest Cash ISA Rates

There continues to be the expected speculation about inflation and interest rates – how on earth would the media use their time if they didn’t spend so much of it guessing the future?  As we know, official inflation rates are falling, yet you and I probably pay more for the things we actually consume, strange but true. Anyway, here are some of the top rates currently available. Please note that this is simply a list, it is not advice. It is important to ensure that your funds are ideally within FSCS compensation limits and not restricted due to shared banking licenses.

Instant Access Accounts

  • On-line: Melton Mowbray 2.50%
  • Bank: Virgin Money 2.20%
  • Building Society: 2.35%

Cash ISA – Variable Rates

  • On-line: Sainsbury’s Bank 2.80%
  • Bank: Virgin Money 2.40%
  • Building Society: Earl Shilton 2.70% (90 day notice)

Cash ISA – Fixed Rates

  • On-line: Bank of Cyprus UK 3.20% (3 years)
  • Bank: Halifax 3.60% (5 years)
  • Building Society: Yorkshire 3.20% (fixed until 31 May 2014)

I have to admit that I’m not overly comfortable with a society that has supermarkets offering banking services, which probably says more about Banks than it does about supermarkets. However many people visit their supermarket more than they visit their bank. I have to admit that I prefer to visit neither and am rather an advocate of on-line service.

New ISA Allowance for 2013/14

You may wish to know that the ISA allowance is now linked to inflation and the September figure for inflation (2.20%) is used for the following tax year. So the 2013/14 ISA allowance will be £240 more. As a result the full 2013/14 allowance will be £11,520 with up to half this into a Cash ISA (£5,760).

Cash ISA latest rates2023-12-01T12:23:04+00:00

Cash ISA Rates

Time to update you on some of the top rates of interest for deposit accounts. Remember that the FSCS (compensation scheme) only covers up to £85,000. This is not advice, but a list of top rates.
2007: Economic Theory – Becker
Instant Access (taxable)
Building Society: Newcastle 2.35%
Cash ISA Fixed Rate (not taxable)
Building Society: Leek United 3.50% 3 years
Cash ISA Variable Rate (not taxable)
Building Society: Newcastle 2.35%
UK National Economy
Inflation – RPI measure: 2.90%
Inflation – CPI measure: 2.50%
Bank of England Base Rate: 0.50% 
In terms of shared banking licenses (and therefore limited FSCS protection), Virgin Money share a license with Northern Rock and Halifax is part of RBS. All of the Building Societies listed above currently have their own separate licenses. Sainsbury’s Bank also holds a separate license.
As the above figures are some of the “best rates” it is clear that cash is rarely keeping pace with inflation, making life harder for savers as the spending value of every pound reduces.
We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting
Cash ISA Rates2023-12-01T12:22:52+00:00

Cash ISA Update

1935: The Irish In Us – Bacon
A quick update to the Cash ISA rates. Remember this is not advice, just a list of some top rates – however you should do your own checking of the detail (I suggest looking at MoneyFacts) and remember the compensation limit of £85,000 per person per banking license.
The only real change on last week is the Post Office, who have made a bit of a play for online savings, (Issue 5) which can be accessed “24/7/365″… which is asking for trouble! Now paying 3.17% it is better than a considerable number of Cash ISAs. However, be warned that the Post Office Ltd (not the same as National Savings) is an appointed representative of the Bank of Ireland (UK) Plc. If you would like to see their latest credit report, just click here. Though be warned, the data only goes to June 2010, which is pretty useless as its nearly 2 years out of date. So be warned, if you are able to place the maximum of £2m into this account, only £85,000 of it will be protected by the FSCS.
Otherwise rates look fairly unchanged. Kent Reliance have altered their fixed rate Cash ISA to 4.00% for their 5 year fix, which is probably good for a mortgage or loan, but not for your savings – locking in for 5 years at 4% seems like a very gloomy outlook for interest rates over the next 5 years.
We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting
Cash ISA Update2017-01-06T14:40:02+00:00

Cash ISA Update

2010: Conflict of Interest – Manning
As usual, for the sake of the hard of thinking, I need to state that this is not advice, but a list of some of the better rates available “out there”. You should always check the detail and I recommend doing so via the Moneyfacts website as your starting point. Remember the rules about consumer protection – only the first £85,000 is covered by the compensation scheme (FSCS) and be warned that there are a number of Banks that come under the same Banking license. I would be unwise to speculate about which Banks may have liquidity problems, but a glance at the media would suggest you are more circumspect of those that from within Portugal, Ireland, Greece and Spain, which may provide you with a conflict of interest.
Instant Access Accounts
Online: Coventry 3.15%
Bank: Virgin Money 2.60%
Building Society: Nottingham 3.25%
Cash ISA Fixed Rate
Online: Bank of Scotland 3.80% (4 years)
Bank: Halifax 4.25% (5 years)
Building Society: Kent Reliance 3.75% (5 years)
Cash ISA Variable Rate
Online: Santander 4.00%
Bank: Barclays 3.05%
Building Society: Nationwide 3.50%

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting
Cash ISA Update2017-01-06T14:40:02+00:00

Cash ISA Headlines

1955: Headline Hunters – Witney
Here is an up to date list of some of the top paying accounts available at the moment. As ever, this does not constitute financial advice and is merely a list. You should always check the detail (at the risk of sounding patronising, but putting in suitable caveats to satisfy regulators and PI insurers). I suggest looking at Moneyfacts for more information, but please take care as rarely are top rates much different from anyone else’s without a sweetener of some type.
Instant Access Account
Online: Coventry 3.15%
Bank: Virgin Money 2.60%
Building Society: Nottingham 3.25%
Comment: Dreary rates, though far better than leaving the money in your current account which probably pays nothing at all. These accounts are described at instant access, but check the detail carefully.
Cash ISA – Fixed Rate
Online: Skipton Building Society 4.00% for 5 years
Bank: Halifax 4.25% for 5 years
Building Society: Leeds 4.00% for 5 years
Comment: These are 5 year rates, which are really disappointing for savers. You will be effectively locking up your money to “grow tax free” at a rate that is only just above inflation. There is in practice minimal real growth and frankly wouldn’t generate much interest to tax, so the ISA status is hardly worthwhile. Think very carefully about locking up cash for 5 years.
Cash ISA – Variable Rate
Online: Santander 4.00%
Bank: Barclays 3.05%
Building Society: Kent Reliance 3.50%
Comment, how on earth the Santander account finds its way into the results as a variable rate account is beyond me, its actually a 2-year fixed rate at 4.00% (so equivalent to the 5 years Fixed Rate ISAs). Oh and if Rory McIIroy wins a golf major they will add another 0.10%, which probably won’t make much difference to you, but would to Rory! The Barclays ISA is only for Barclays customers, either with a current account or £500 saved with them. The normal Barclays Cash ISA rates are unsurprisingly bad at a puny 0.10%. The Kent Reliance ISA is a 2 year tracker rate, again look beyond the headline.
Personal Favourites
Again, this is not advice, but my personal favourite Cash ISAs (if you really want one) M&S Money – but watch out for the early withdrawal penalites. ING who are one of the easiest and better Banks (3% no quibble) to save with. Nationwide have some good rates, but better if you have an account with them. They are one of my preferred Building Societies.
Remember that the FSCS protect up to £85,000 per person, per Banking License (which may not be the same as per Bank). Please watch out for this, in the event of a Bank or Building Society collapse you need to know that your cash is fairly well protected, those with large reserves in cash be warned.
We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting
Cash ISA Headlines2017-01-06T14:40:03+00:00
Go to Top