Best ISA Deals 2010
ISA stands for Individual Savings Accounts. An ISA is just a tax wrapper and ISAs are a tax-free way to save your money. There are two types of ISAs: cash ISA and investment ISAs. You can save money into both at the same time. The best ISA deals are the ones that require you to deposit the least amount of money but give you access to the highest interest rates. Anyone aged 18 or over living in the UK can invest in an Investment ISA (over 16 for cash Isas). The top 3 Best ISA Deals and ISA Rates are shown below:
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5.5% AER | £500 minimum |
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4.6% AER | £1.00 minimum |
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4.25% AER | £500 minimum |
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2.0% AER | £1.00 minimum |
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2.0% AER | £1.00 minimum |
Best ISA Rates 2010
Cash ISAs
While the annual ISA allowance is £7,200, only £3,600 may be put in cash. These limits increased in the April 09 budget, to £10,200 and £5,100 respectively, and are in force now for anyone 50 or over by 5 April 2010, and from next tax year (6 April 2010) for everyone else. The Best ISA Rates can be found here.
If you have cash you wish to save then you can save it in a Cash ISA; these work just like normal savings, except the interest isn’t taxed.
Usually, a basic rate taxpayer pays a 20% of their savings interest in tax, a higher rate tax payer 40%.
The top Best ISA Deals for Cash ISAs are show above. These are currently the Best ISA Rates, but check back frequently as rates can change.
Investment ISA
An Investment ISA is a Stocks and Shares ISA. It enables you to invest your money in a choice of funds with different investment objectives and can be a tax-efficient way of investing, whether you’re looking for regular income or capital growth. This Investment ISA gives you the choice and flexibility to get what you want from your investments.