Which ISA?

ollietatts

I want to start saving for the future and have been told that an isa would be a good option, however i have no clue on where to start, i have £1000 to open with and want to pay in £100 per month, i would appreciate any advice anyone could give

Thanks, ollie.

badger09

ollietatts wrote: »

I want to start saving for the future and have been told that an isa would be a good option, however i have no clue on where to start, i have £1000 to open with and want to pay in £100 per month, i would appreciate any advice anyone could give

Thanks, ollie.

What you need is either an Instant Access ISA, which lets you pay in as and when you want, or a Regular Saver ISA which lets you pay in a regular amount each month.

Have a look at the 1st page of this

https://forums.moneysavingexpert.com/discussion/401374

I'm assuming you're looking for a Cash ISA

psychic_teabag

An ISA is a straightforward way to do this. You can do slightly better if you can find a non-ISA regular saver paying a higher rate (even after tax is deducted), and then transfer the balance to an ISA when it matures after a year.

There are regular savers paying up to 8% before tax (6.4% after basic-rate tax).

Depends whether you'd prefer to keep things simple to start with.