Abbey Monthly Saver/ISA?

pheeni22

I currently have an Abbey Monthly Saver and was wondering if it's worth looking at ISA's or just stick with the Monthly Saver.

Any advice is much appreciated.

LittleVoice

If you are a tax payer, definitely find an ISA which offers an interest rate at least equivalent to the nett interest rate of the monthly saver.

However when did you open the monthly saver? If it was some time ago, I would keep it going otherwise you will get a poor rate.

pheeni22

I opened the Monthly Saver around 2003 and just got got to an amount for an ISA.

I'm thinking now that I should just stick with the Monthly Saver and just open an ISA anyway.

shellylovesshopping

pheeni22 wrote: »

I opened the Monthly Saver around 2003 and just got got to an amount for an ISA.

I'm thinking now that I should just stick with the Monthly Saver and just open an ISA anyway.

You should open a fixed rate monthly saver as the one you have is an old edition and the rate is now better at 7.25%. The best isa rate is 6.% for a direct isa - all depends on whether your a tax payer and how much you wish to save as max on FRMS is £250pm opposed to isa at £300pm. HTH

pheeni22

Thanks for the replies.

I am a tax payer but I'm temping at the moment so I don't have stable income.

Do you think it would be possible to switch from my current Monthly Saver to a Fixed Rate one?