Instant Access Best Value

Spaniel24

This is my first post and you experienced moneysaving experts are going to laugh out loud at the unbelievable naivety of a woman in her 50s so here goes.....:rotfl:

The balance of my current account is too high to attract the best interest so I want to open a new account. I've read all Martin's info on instant access but if I can open an instant access ISA giving over 3% why would I open an instant access current account giving on 2.5% taxed?

posted_2

There are limits on how much you can put in a cash ISA in any one tax year. So if you had too much money, you would have to open both an isa, and a normal savings account.

http://www.hmrc.gov.uk/budget2009/bn51.htm

Also, if you are a non-taxpayer, then you should compare the gross rates of both accounts.