Which ISA is Right for Me?
25.07.2018 by Jim Ker
When it comes to long-term saving plans, an ISA is one of the most common options for savers across a range of ages and incomes. The generous annual allowance and the potential for tax-efficient growth on your savings make ISAs an attractive option whether building a nest egg for the future or investing your hard-earned money.
What’s less understood is the different variations of ISA products that are available to us. Many savers rely on banks to provide them with a cash ISA and even though deemed secure, the low-interest rates available over the last decade has resulted in many peoples’ money underperforming against inflation and reducing what they could buy with their savings in the future.
The options for ISA products are wide-ranging and there are alternatives to cash accounts, both for adults and young people. When reviewing your approach to saving, it’s important to ask yourself some key questions.