Looking for an ISA. Money Saving Expert figures accurate?
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Written on: 24.11.2009 [14:46]
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Barbara
Barbara
Topic creator
Posts: 9
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I am researching in to ISAs to try and find the best rate at the moment. I cant afford that much at the moment so want to make sure I get the most for my money. I was looking around and find quite a few between 1-2% and thought that this sounded quite right due to whats been going on recently and how the economy is. But then when I did a google search one of the search results showed something to with getting a 3.5% ISA Money Saving Expert claims. How is this possible? How can some of the banks be at 1.45% and then a completely different one be at 3.5%? Are their rates accurate? |
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Written on: 29.11.2009 [07:50]
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Favre
Favre
Posts: 0
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It is true you can get some really high rates in comparison to the norm. But it obviously depends on the terms. For example there is a three year term fixed rate ISA with Principality which offers a whopping 4.2% but the catches obviously are you have to save for 3 years and also you have to deposit the full amount. As you have less you could probably try with Leeds BS’s 3 year fixed rate ISA with 3.75% but there are so many stipulations to consider; whether you will need to withdraw (only 25% withdrawal allowed penalty free), whether the rates will increase over 3 years thus meaning a los for you etc. I would say do some more research before you chose anything. How much were you willing to invest? For how long were you planning on investing? Would you want to make regular deposits? There are many aspects to cover before deciding on an ISA. |
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