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what is an ISA?
atty_2
Posts: 2 Newbie
e.g. is it risk free?
0
Comments
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If the question is what is a 'mini-cash ISA' then yes, basically
The ISA bit is a wrapper around a normal savings account, so that you wont pay any tax on it. I say basically, because there is a risk the bank might go under and you would only get 90% (or is it 95%) of you first 30k back under the banking protection scheme (I never remember its proper name) However this is unlikely0 -
There are also some equity isas that can have capital security although they are in a minority. Just to confuse matters a little
The soon to removed insurance ISA also has capital security as well.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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