Sign in to follow this  
Followers 0
Renewed Investor

Interest Gap Narrows Between Isas And Standard Accounts

6 posts in this topic

"Interest Gap Narrows Between ISAs And Standard Accounts"

[url="http://www.daltonfinancialnews.com/2012_03_28_interest_gap_narrows.html"]Link[/url]

"There are just a few days left for savers to use their Isa allowance for the current tax year, which ends on 5 April.

However, savers who miss out on this year’s allowance may get almost as good a deal from an ordinary savings account according to new research by consumer group Which?

Isas have traditionally offered a higher rate of interest than standard savings account because of their tax-free status.

Which? now reports that the average interest rate on a cash Isa is just 0.44 per cent higher than the average standard savings rate."

I've dropped my whole ISA plan, the risks don't seem worth it. Instead I am gonna try my hand at trading stocks myself. At least if I lose it is due to my own doing and not someone elses.

Share this post


Link to post
Share on other sites
[quote name='Renewed Investor' timestamp='1332954103' post='909001971']

I've dropped my whole ISA plan, the risks don't seem worth it. Instead I am gonna try my hand at trading stocks myself. At least if I lose it is due to my own doing and not someone elses.
[/quote]

Why not trade them in a self select ISA, with Selftrade or another low cost provider.

Share this post


Link to post
Share on other sites
yeah what is the point of these stupid bank isa's, they make them so hard to use because they expire each year.......why not just use the isa in a safe share like tesco or some company you use frequently and get the dividend......

Share this post


Link to post
Share on other sites
[quote name='Fatmanfilms' timestamp='1332957229' post='909002005']
Why not trade them in a self select ISA, with Selftrade or another low cost provider.
[/quote]
That is another alternative. I was looking at Interactive Investors ISA packages and they offer services like that.

Thing is though, with all this economic uncertainty I am not sure tying my money up for 3 years or so is a good idea. That is what is turning me towards trading. I have done some trading before in the past and did fairly well, but never with this much cash.

Share this post


Link to post
Share on other sites
The main reason for making sure you use your ISA allowance each year is that you are building up a pot of money on which interest is tax free. That tax free status could be worth a lot more in the future than it is now.

Share this post


Link to post
Share on other sites
The problem with any bank account is that unless you are getting around 10% a year then you are getting a negative yield. I think between 8 - 10% is the real inflation rate.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0