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Saving Account or ISA

aayush · 2023-10-13 10:41:13

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

Comments

RedImp_2 Posts: 589 Forumite

13 October 2023 at 5:44PM

LHW99 said:

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.

What are the tax free limits going down to????

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