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Withdraw savings or ISA?
Bea787
Posts: 57 Forumite
Can I please ask advice on the best account to withdraw from (and clear out) when there’s a choice of two, both variable interest rates (1% almost - nothing in it), just that one is an ISA and one a standard savings account. I’m thinking probably best to leave the ISA intact but get a little muddled with all the changes. What do you think?
0
Comments
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It's best to keep the isa, though with low isa savings rates it really doesn't make much difference.2
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What would be the benefits of taking your money out of the ISA wrapper?0 -
Is the ISA flexible?0
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There's also the wider context to think about i.e. do you pay tax on interest earned outside an Isa?1
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I've got a last year's cash ISA with an interest rate of 0.75%, which is 0.9375% grossed up (I pay tax on over £1000 interest). As I can comfortably get more than that on regular savers and other deposits, I'm happy to dip into it when needed.1
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