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What to do - ISA v's Saving Account
Ronnie49
Posts: 1 Newbie
Where is it best to put your money - ISA or Savings approx 40k - don't need access - would like the best return
Thoughts please
Thoughts please
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Comments
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If you want the best return then just choose the account with the highest rate for the period you want to lock it away for. Plenty of options if you look on the best savings account pages here. Bear in mind you can only put £20k into an ISA each yearRemember the saying: if it looks too good to be true it almost certainly is.0
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A cash ISA is a savings account, it is just protected from possible tax on the interest.Ronnie49 said:Where is it best to put your money - ISA or Savings approx 40k - don't need access - would like the best return
Thoughts please
Suggest you read this .
Best savings accounts: 5% easy access or 6.2% fixed rates (moneysavingexpert.com)
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It will depend on your tax situation, but for a single basic rate payer 20k in the best paying ISA and 20k in the best paying savings account is likely to be the best combination.Ronnie49 said:Where is it best to put your money - ISA or Savings approx 40k - don't need access - would like the best return
Thoughts please0
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