|
|
|
Last update : November 2011
|
|
|
- Tax-free - saves 20% for basic rate taxpayers and 40% for those who pay tax at the higher rate
- Simple to open and run - See Secret 3 - Buy simple and flexible - you can't read the future - which is one of this site's 10 Secrets to Good Personal Finance
- Easy access to your money unless held in Notice Accounts
- No need to tell the taxman about income and capital gains from ISA savings and investments
- Guaranteed not to lose money with Cash, unlike shares where they can easily fall in value
- Available to anyone aged 16+, important as it encourage saving from an early age
- New £5,340 limit
|
|
|
|
| Disadvantages - Cash ISAs |
- Is the tax-free advantage so much of an advantage - If a Cash ISA account has £500 then the savings on the interest would amount to a few pounds at most. Not so much to get excited about
- Transferring can be messy - Sometimes transferring from one ISA provider to another (at different bank or building societies) can be complicated and time-consuming. Plenty of horror stories over the last few years where transfers have taken months - see this FAQ if you are experiencing ISA transfer problems
|
|
|
Current Cash ISA Deals
|
|
|
 |
|
|
|
|
|
Read more in the ISA section:
|
|
|
|
|
|
| Looking for something? Then search this site: |
|
|
|
|
|
|
|
|
|
