We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Best Ida for a student
cezzar1975
Posts: 1 Newbie
Hi All. My son, who is a second year student would like to open an isa to be able to save some money with interest. What would be the best option for him and do the tax rules apply?
0
Comments
-
The fact he is a student is not relevant except the fact that he probably is not earning.
In this case he would not really need to save in an ISA as he would not be liable for any tax on interest ( unless he had a LOT of savings).
Non ISA savings accounts usually pay a bit more interest, and it is easier to move them around from one provider to another.
An exception to this is that he could look to see if a LISA might be suitable, if he is saving for buying a house at some point.
Savings - All Guides - MoneySavingExpert
1 -
Hi,he'll get a better rate with a regular saver.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards