Which ISAs & savings accounts are crisis-resistant?
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Written on: 29.10.2009 [15:48]
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Muhammad
Muhammad
Topic creator
Posts: 2
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I'd like to invest 10,000 for up to six years, but after the recent financial problems and horror stories of savings disappearing, I want security! Who offers ISAs, savings accounts or investment accounts that are safe despite the crisis? |
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Written on: 30.10.2009 [11:31]
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Kelly
Kelly
Posts: 3
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Although nothing in life is certain, you can rest assured that very few people really lose their entire life savings when crisis strikes. As long as your investments are spread out, and you're not putting all your money eggs in one banking basket, your savings should be insured in case of disaster. The Financial Services Compensation Scheme guarantees the first £50,000 deposited in any approved bank or building society. Check that different banks aren't actually the same bank in different guises! After that, spread out your savings: ISAs are a great tax-free deal and should definitely be part of your portfolio. ING Direct currently offers a good interest rate on cash ISAs. |
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Written on: 11.11.2009 [16:16]
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Bowen
Bowen
Posts: 4
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Whatever you do don’t go for any fixed rates at the moment. The economy shouldn’t get any worse than it is (it isn’t possible) and if you get a fixed rate ISA then you will be stuck for the whole tax year, at leats with the variable rates you might see a slight increase towards the end of your ISA term.
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