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What's the difference?
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dec9
Posts: 34 Forumite
What's the difference between a 1yr fixed Cash ISA Bond and a plain 1yr fixed Cash ISA?
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Comments
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Same, just different name.
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Bond is a marketing name. Fixed term deposits are the generic name. You get a number of variances with marketing names. Some can be confusing. Especially the term "bond" which is used for so many different things.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Just be very careful. There are some dubious schemes advertised on Facebook and elsewhere that use the word bond for things that are not cash savings accounts but are a different type of ISA called Innovative Finance (IF) ISA that can lose your money. That isn't possible with a normal cash ISARemember the saying: if it looks too good to be true it almost certainly is.0
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Bond is sometimes used just to give an 'investment' a veneer of security/stability. These 'investments' can be many things scams, not just IFISA's, which for sure are not all scams, but certainly riskier than a cash ISA !jimjames said:Just be very careful. There are some dubious schemes advertised on Facebook and elsewhere that use the word bond for things that are not cash savings accounts but are a different type of ISA called Innovative Finance (IF) ISA that can lose your money. That isn't possible with a normal cash ISA1
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