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Cash ISA

jack_tyler
jack_tyler Posts: 143 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Savings & investments
Hi everyone. I would like some good advice regarding the best cash ISA. I have £16,000 that I would like to put in a cash ISA, but I am very confused by the whole thing, as I have never done this before. I want to get the best interest rate possible, but I also need to be able to get to my money, as and when I need to. I am a single mum and dont work, so I need to have access to my money when I need to. Please could anyone advise which would be the best possible one for me.

Thanks

Comments

  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    edited 22 March 2015 at 6:23PM
    Why do you want a cash ISA?

    If you want the best interest rate possible, you should be looking at interest paying current accounts and at the top regular savings accounts.

    What is your taxable income?

    EDIT: NB. if you haven't yet paid off your loan, that should be your priority. Your loan costs you more than you can ever hope to get in interest on your £16K.
    https://forums.moneysavingexpert.com/discussion/5146573
  • Mistermeaner
    Mistermeaner Posts: 3,031 Forumite
    Part of the Furniture 1,000 Posts
    Hi Jack

    Repeat of above really but assume you don't pay tax so would best with high interest current accounts over isa.
    Left is never right but I always am.
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