Nationwide: Every Briton should have an ISA

Nationwide: Every Briton should have an ISA
Date of Publication: Wednesday, 31 March 2010 00:00

Every Briton should possess an ISA, according to Nationwide's head of savings.

People should be taking greater advantage of the tax-free benefits on hand with individual savings accounts (ISA).

According to Andy Hutchinson, head of savings for Nationwide, the fact such UK accounts give people the chance to save tax-efficiently means that all consumers should be using them.

"There are very few opportunities in life to 'beat the tax system' but saving or investing in an ISA allows you to do just that, which is why I believe every adult in the UK should consider having one," he claims.

With the current tax year almost over, Britons wishing to invest in ISA accounts should open such a product as soon as possible.

His comments come as research by the building society reveals just over half (56 per cent) of those currently saving money have an ISA, with many consumers unaware about exactly how much money can be tucked into such accounts.

Meanwhile, a Co-op Bank study noted that 25 per cent of cash ISA savers have no idea about the interest rate attached to their account.

By Joe LettsADNFCR-2079-ID-19700144-ADNFCR
Wednesday, 31 March 2010 00:00
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Top 5 ISAs

Provider
AER
Notice
Min Deposit
Max Deposit
Apply
View Full Table >
2.50%
Fixed term for 5 years
£15,240
£1,000,000
2.30%
Fixed term for 1000 Days
£15,240
£1,000,000
2.00%
Fixed term for 3 years
£1,000
£1,000,000
1.85%
Fixed term for 2 years
£1,000
£1,000,000
1.65%
Fixed term for 1 year
£1,000
£1,000,000

Aldermore 1 Year Fixed Rate ISA

Aldermore
  • Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers
  • Fast and easy setup - open an account, complete identity checks and move your money in minutes
  • Accessible - open an account with just £1,000
  • Flexible - add to your savings whenever you like
  • Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest
  • Easy to manage - do it online, by phone or by post
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Aldermore 2 Year Fixed Rate ISA

Aldermore
  • Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers
  • Fast and easy setup - open an account, complete identity checks and move your money in minutes
  • Accessible - open an account with just £1,000
  • Flexible - add to your savings whenever you like
  • Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest
  • Easy to manage - do it online, by phone or by post
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Aldermore 3 Year Fixed Rate ISA

Aldermore
  • Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers
  • Fast and easy setup - open an account, complete identity checks and move your money in minutes
  • Accessible - open an account with just £1,000
  • Flexible - add to your savings whenever you like
  • Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest
  • Easy to manage - do it online, by phone or by post
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

SBI UK Online Cash ISA 1000 days Fixed Deposit

  • Minimum deposit amount £500
  • Interest paid on balances above £500 and below £1,000,000
  • Account managed online or by visiting our branch
  • Interest paid on a monthly basis
  • Debit card provided only to the primary account holder if requested
  • Available to an individual, 18 years or over, who is ordinarily resident in the UK for tax purposes and has a permanent UK address
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

SBI UK Online Cash ISA 5 Year Fixed Deposit

  • Minimum deposit amount of £500
  • Interest paid on balances above £500 and below £1,000,000
  • Account managed online or by visiting our branch
  • Interest paid on a monthly basis
  • Debit card provided only to the primary account holder if requested
  • Available to an individual, 18 years or over, who is ordinarily resident in the UK for tax purposes and has a permanent UK address
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme