Best Ida for a student

cezzar1975

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? 

Albermarle

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.
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[Deleted User]

Hi,

he'll get a better rate with a regular saver.