cash isas when do i start one?

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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dtsddtsd Forumite
2 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi I have money to invest say £300/month, do i plow this all into a cash isa now or wait until the april 5th deadline? Also i appreciate that cash isas come higher up on the money fountain, but is it worth saving in a 3-6% current account and then transfering just before the deadline?


  • innovateinnovate
    16.2K Posts
    In the current interest rate climate, you would do a lot better in a current, or regular savings, account than in a cash ISA, even as a higher rate tax payer.

    Depending on when you expect to need your cash for spending, you might even skip the cash ISA altogether. But it you are working on building up a tax-free nest egg, putting as much as you can into a cash ISA on April 5 (or a couple of days before) is a good strategy. Until then, exploit the higher rates as much as you can.

    NB. That money fountain is very out of line with the market now.
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