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Interest Gap Narrows Between Isas And Standard Accounts


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#1 Renewed Investor

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Posted 28 March 2012 - 05:01 PM

"Interest Gap Narrows Between ISAs And Standard Accounts"

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"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.

#2 Fatmanfilms

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Posted 28 March 2012 - 05:53 PM

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.


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

#3 scrappycocco

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Posted 28 March 2012 - 05:57 PM

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......

#4 Renewed Investor

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Posted 29 March 2012 - 02:49 PM

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

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.

#5 Bruce Banner

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Posted 03 April 2012 - 07:31 AM

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.
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Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#6 Renewed Investor

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Posted 04 April 2012 - 12:50 PM

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.




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