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Are cash ISA's worth the hassle ?
Comments
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Thanks rb10. At the moment it's not a problem for me. It's really looking for something more suitable as I come up to my retirement, so there is no immediate reason to change just yet.
I have looked at the competition before for cash ISA's and I couldn't find any that would pay a tax-free income without some sort of penalty. However, I'll have another look, but may have to accept a slightly lower rate for the benefit of receiving the monthly interest without any penalties. This website of course is an excellent source for comparison/information purposes.0 -
Thanks rb10. At the moment it's not a problem for me. It's really looking for something more suitable as I come up to my retirement, so there is no immediate reason to change just yet.
I have looked at the competition before for cash ISA's and I couldn't find any that would pay a tax-free income without some sort of penalty. However, I'll have another look, but may have to accept a slightly lower rate for the benefit of receiving the monthly interest without any penalties. This website of course is an excellent source for comparison/information purposes.
Halifax ISA Direct Reward.
Top instant access rate of 2.8% or 3%, unlimited withdrawals.0 -
Nationwide do 1/3/5-year fixed-rate ISAs with the option of monthly interest paid away. The ISA rates are identical with the gross non-ISA rates.
The monthly rates are slightly shy of the annual rates, but that will always happen where there's a choice between taking money out within the year and leaving it in. It's because the annual rate is equivalent to having the monthly interest re-invested."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
rb10 - that looks ideal. I'll look into transferring. Thanks for the info.0
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