Cash ISA! Is it worth opening one?

chouglez

chouglez

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Do not have much knowledge or exposure to Cash ISA and was wondering if any experts on our forum could shed some light on this subject. :thinking:
 
there is one with Santanders. Its bank of england rate + 3%. Seems a good one for me
 
They are probably as good a bet as any for putting some money away, especially as they are tax free (up to a point) leaving the money sitting in a bank account is a non starter as it will earn you bugge.... Not much there.
 
If you want to put money into a savings account and you pay tax then a Cash ISA is a no-brainer. You just need to get the best interest rate for the access you require.
Amounts up to £50 000 are protected in any one organization, this can be confusing as some organisations own more than one company i.e. Santander owns Abbey, Alliance & Leicester and Bradford & Bingley. But even then some of the linked companies have their own registration
Have a look here http://www.moneysavingexpert.com/savings/ISA-guide-savings-without-tax
There is a lot of info including a list of what are classed as seperate organisations for compensation purposes.
 
"Santander owns Abbey, Alliance & Leicester and Bradford & Bingley."

Abbey and B&B no longer exist - they are all now Santander. A&L will be rebranded by the end of the year, so not too confusing! :)

There are always some good deals at this time of year. Santander's cash ISA with a VARIABLE rate above BofE base is attractive as, if base rate does increase, you will feel the benefit. If you have the cash NOW do it for this tax year as the rate will fall very slightly for next tax year (to 3.2%). {will add, for full disclosure that I work for them so know the rates pretty well}.

Some banks/building societies are offering better rates, but many are on a fixed rate basis - so, if the base rate does change (increase) after the election/later in the year/etc, it may be less competitive when compared to others - and fixed rates tend not to allow access during the term. Especially if you tie to a, say, 3 year deal.

A tax payer is certainly better off taking advantage of ISA allowances (which go up to £10,200 for everyone next week....£5,100 of which can be invested in cash).

HTH
 
Santander are no longer taking applications for cash isa`s that great deal is now closed
 
sjh2008 said:
Santander are no longer taking applications for cash isa`s that great deal is now closed
Click to expand...

As of close of business tonight, we hadn't heard that. We've been taking them all day....

Mind you, as with many business's we could, of course, be the last to know!! :D
 
I was in SAntander today; and the only issue they said was that the computers were down due to a BT line problem...

Hmmm...got to check tomorrow....
 
Any views on the NS&I's CPI linked indexed savings? Its tax free; and if the CPI is 3% next year; it could be a winner
 
~Sam~ said:
"Santander owns Abbey, Alliance & Leicester and Bradford & Bingley."

Abbey and B&B no longer exist - they are all now Santander. A&L will be rebranded by the end of the year, so not too confusing! :)

HTH
Click to expand...

True- although Abbey & B&B were only rebranded recently, and Santander also own Cahoot and run Asda's finance side :)
 
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