Are cash Isla's worth it now

apt

jimjames wrote: »

In my view a cash ISA hasn't been worth it for many years. My last one was around 15 years ago. S&S ISAs on the other hand are definitely worth it. Or if you prefer cash then current accounts pay way more than cash ISAs.

Cash ISAs were worth it up to about 4 years ago. I still have a couple paying 5% and 4.4% PA which was more than my Stocks and Shares ISAs made in 2015. Since then the interest rates have been too low compared to current accounts and regular savers plus the higher annual ISA limits means the use it or lose it principle for allowances doesn't count for much anymore for the majority of savers.

Flobberchops

If and when the flexible subscription rules come into effect, ISAs will have more parity with normal savings accounts and may find some use as a place to quickly bung short-term cash within the yearly limit. At that point cash ISAs will more or less be normal savings accounts in all but name, but on the whole paying much better interest.

High-interest current accounts and equities still win the day, though.

colsten

Flobberchops wrote: »

If and when the flexible subscription rules come into effect, ISAs will have more parity with normal savings accounts and may find some use as a place to quickly bung short-term cash within the yearly limit. At that point cash ISAs will more or less be normal savings accounts in all but name, but on the whole paying much better interest.

Dream on is what I say.

kidmugsy

jimjames wrote: »

if you prefer cash then current accounts pay way more than cash ISAs.

How does that square with your motto "if it looks too good to be true it almost certainly is"?