Looking for an ISA

[purplepigs]

Hi we are looking to open an ISA.
Does anyone have any advice on which ones are best and which are the ones to avoid?

[dinkydolphin]

Me too x

[purplepigs]

I have looked at the high street banks and they all sound the same !!!!!!

[nannynick]

What sort of ISA?
ISA is a tax wrapper, it goes around the investment to keep the taxman off it.

With the personal savings allowance, cash ISA's are not worth using in my view. Use your ISA allowance for Stocks&Shares instead.

MoneyToTheMasses podcast this week (10 Feb) has a good roundup about the types of ISA's.
www.moneytothemasses.com/podcast

[Paccs]

Why an isa? Most have rubbish interest rates and unless you have more than £1000 in interest from other savings you won't pay tax anyway.

[Arnoldthecat]

Have a look at the Coventry BS five year isa with a rate of 2.3% i believe? Dont worry about the five year thing as you can still transfer it with a penalty loss of interest. Realistically, i doubt interest rates will rise dramatically for at least five years. Obviously this is only good for those receiving less than £1000 pa interest on savings and/or need to mitigate their overall tax position.