16 yrs old ISA + current account

Emobunny

Hello! Ive just turned 16 and i'm looking for a good ISA and current account to open. I will have about £50 each month put into the account. I really have no idea what or where to look for a good deal so im looking for as much help as i can get. Also i would prefer an internet account for ease of access thanks.

Lokolo

Egg have an ISA for 6.05% which is good....

But you will need proof of address so a previous bank statement or anything?

Current Account though I would go for either HSBC or Lloyds.

Milarky

I would wait until you are 18 (or, more generally, whatever age you begin to pay tax) to start an ISA - and save the cash into a 'taxable' savings account instead for a much better rate - being as cash ISAs are your only option at your age (if 18 I might have suggested a regular investment - 'Stocks and Shares' ISA - to develop the long-term savings habit)

Cash ISA rates are quite inferior to taxable savings rates in general - which is what makes them suitable only for 'taxpayers'. Also, as an 'under 21' there will be some higher paying cash accounts out there you could be accessing before you come of age)