Is it better to get a variable rate ISA or fixed rate ISA Halifax has?
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Written on: 22.11.2009 [22:30]
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Lindsay
Lindsay
Topic creator
Posts: 4
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I don’t plan on withdrawing anything over the next year but I am still not sure whether the fixed rate ISA Halifax offers. What are the disadvantages to a fixed rate or a variable rate? |
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Written on: 24.11.2009 [18:50]
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Olivier
Olivier
Posts: 2
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I would say that you were better of going for a fixed rate as you will always be certain of the amount you will receive, but as the economy might improve over the next year perhaps it would be better going for a variable rate. The rate is already so low that it would be hard to get worse. But as with every fixed rate ISA you have to completely sure not to have to withdraw any money, I suppose some people can be completely secure and have other savings if they need some cash but if you think that perhaps someday you may need to dip in to it you wont be able to without a huge penalty so think carefully before jumping in. |
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