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CASH ISA

joinerman

Well-Known Member
Joined
Mar 23, 2010
Messages
2,912
Garage
I have a Cash Isa that matures in three weeks, my bank want's to know what I'm going to do with the funds, not worth opening a new one as by xmas it will be at it's limit, where the hell do you put cash nowadays with easy access & no penalty's ?
 
Under your bed.

What's your address?

I will speak to.my wife as she is studying for her FA diploma
 
Savings rates are just rubbish at present. They've raised the limit on tax free interest for savers but if you're a higher rate tax payer you can only drag £500 interest per year from memory. ISAs are great in that they attract no tax, but you can only put a piddling £15k a year into them. If you want to get real growth, you've really no chance with a High Street savings product. Better to buy something that appreciates like property, art or fine wine frankly. Skipton offer some of the best rates on standard savings if you lock it in.
 
That's only on the first £2500 though Mike, anything over that is no interest.
So open a account in your name one in the wife name and like me do the kids as well
For thats £12500 earning 3% = £375 per year for doing nothing and there are few more like that
Try Tesco but need to jump though a few hoops to get the deal
Also tsb do one which i have 3 with them

But look around and they nearly all do instant access
 
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£250000 house = 1200 per month x 12 = 14440 - say at worse 20% tax £2880 =£11560 which is about 4 1/2% which is good but no access to your money as i well know
And if you pay 20% tax u need help
 
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