Saving Account or ISA

aayush

HI
Please can you advise which would be best and which at present is giving a good rate of interest? 
And which has no penalties on with drawls or deposits  on a monthly basis  if the need be to do this 

The amount is 10k plus 

TIA

[Deleted User]

Hi,

have a look HERE.

aayush

which best isa no withdrawal pentlys but can ad  if wish

Albermarle

aayush said:

which best isa no withdrawal pentlys but can ad  if wish

For this you need an easy access cash ISA.
Easy Access Cash ISAs | Rates Up To 5.05% (moneyfactscompare.co.uk)

refluxer

aayush said:

which best isa no withdrawal pentlys but can ad  if wish

You will generally pay a penalty for withdrawing from a fixed rate cash ISA (before maturity) and they also tend to have funding windows of 2-4 weeks which means you can't pay into it on a regular basis (although there are one or two exceptions to this such as the Barclays 1 or 2 Year Flexible ISAs) so it sounds like an easy access ISA will suit your needs.

The highest-paying easy (and unrestricted) access cash ISA rate is currently 5% with either the Skipton BS or Moneybox - see here for the best rates : https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false

Skipton's 'Bonus Cash ISA Saver' can be managed online and is flexible, so you can replace withdrawn funds before the end of the tax year without it counting towards your annual £20k ISA limit.

Moneybox's Cash ISA is app only and isn't flexible, so any withdrawn cash that is replaced will count towards your ISA limit.

refluxer

Note that you can get up to 5.15% in a normal (non-ISA) easy (unrestricted) access account at the moment, so you would need to consider your tax situation before deciding which is the best option.

LHW99

Also if you are likely to pay tax on interest (now the tax-free limits are going down) an ISA means you don't need to declare the interest to HMRC as its tax-free, and also the rate is nominally "better" than a normal savings account if you have to pay tax on the interest you get.

Wheres_My_Cashback

aayush said:

which best isa no withdrawal pentlys but can ad  if wish

Have you actually considered looking at the links to the best ISAs and doing some research ?

aayush

if i put in 20 in an isa what will i get after 1 year 

eskbanker

aayush said:

if i put in 20 in an isa what will i get after 1 year 

A recommendation to check the terms of the account you signed up for?

Albermarle

aayush said:

if i put in 20 in an isa what will i get after 1 year 

Depends which one you choose from the links sent to you.