Need help with choosing an ISA

truly86

Good evening,

I am having difficulty deciding on an ISA. I have been with NatWest for 10 years and have looked into ones they offer but wanted some feedback on the best one to purchase from the bank. Some of my family and friends have suggested I join another bank (Halifax apparently has the best one) but would like some more information on them.

I have a savings account with NatWest and have been saving up money for the past year, but really looking to take my finances more seriously and think about the future e.g. buying a house with my partner (he bought and sold a house about 3 years ago) and improving my credit score (currently on fair but not too far away from a good).

Any help would be much appreciated

G_M

Your loyalty does you no good. Do NOT choose a NatWest ISA just because you've always banked there.

Choose the bank that offers the est rate. Provided it is covered by the FSA protection, it is things like interest rate & access method that atter.

Either use a comparison site, or look at the ISA section of the moneysaving site here.

teddysmum

Unless you need to save tax, an ISA is not the best way to save as you can get better rates , elsewhere, with no tax to pay because of the £1000 interest allowance for basic rate taxpayers .

jimjames

Depending how much you have a cash ISA is almost certainly not the right account if you want the most interest. It's pointless getting an account that pays 1% tax free when you can get one paying 5% taxed - and even then most people won't pay tax on it.

Keep_pedalling

If this is for long term savings then you should consider a S&Ss ISA, cash ISAs have been a waste of time for years.

jimjames

Keep_pedalling wrote: »

If this is for long term savings then you should consider a S&Ss ISA, cash ISAs have been a waste of time for years.

OP says they're looking to save to buy a house. The only ISA worthwhile is a HTB ISA or cash LISA, they may qualify if they've never owned a house themselves before. I wouldn't think a S&S ISA is suitable for someone looking to buy a house in the near future.