What is an Isa? We explain what they do, how to pick the best one for you and how they can make you richer
Isas used to be so simple. Now there’s a help-to-buy Isa, an innovative Isa, a lifetime Isa… Isas all over the place.
So we decided to go back to basics, for a simple explainer of what an Isa actually is and how to pick the best one for you.
In this episode of the Big Money Questions, senior investment planner at Vanguard James Norton, goes through what you need to know about Isas and how they can make you richer.
He also explains how to start if you don’t have one at all, or if you are saving for the long term and want to open a stocks and shares Isa.?
THIS IS MONEY'S FIVE OF THE BEST SAVINGS DEALS
Virgin Money pays 1.41% interest on its one-year fixed rate cash Isa. The account can only be opened online and has a minimum deposit of ￡1.
Atom Bank pays a best-buy 1.85% AER on its one-year fixed term deposit account. The account is operated online or via its smartphone app. Minimum deposit is ￡50.
BM Savings pays 1.45% AER variable interest on its easy access deal for 12 months. The account changes to a Standard Saver Internet account thereafter. The minimum deposit is ￡1.
Al Rayan Bank pays 2.17% AER fixed interest if you lock your cash away for three years. The account has a minimum deposit of ￡1,000 and the interest is payable after the three year term.
RCI Bank pays 1.3% AER variable interest on its easy access deal. Deposits in its Freedom Savings Account have no FSCS protection, but you are covered for up to €100,000 by the French equivalent (FGDR).
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