Everything You Need to Know About ISAs
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
With the current economic forecast predicting inflation to increase and interest rates staying low, the best place to invest our savings is becoming less clear. With the wide range of ISAs that are now available it is no wonder so many consumers are confused about what type of ISA suits their needs.
With this in mind, we have created an in-depth guide to ISAs. Which explains the finer details of the ISA landscape in an easy to understand way, offering information so you can choose the right ISA for you.
Whether you are new to ISAs or have been introduced to these financial products before, our guide aims to answer any questions you may have.
You will be able to learn about what an ISA is, how you can invest in one and the pros and cons of the two main types, Stocks & Shares and Cash ISAs. The guide will also provide you with all the information you need on how to transfer your ISA, withdraw from one and the favourable tax treatments that you receive on these products.
Types of ISAs
Your ISA guide will inform you on all the current ISAs that are available, including those that launch this year.
- Stocks & Share ISA
- Cash ISA
- Junior ISA
- Help to Buy ISA
- Lifetime ISA
- Innovative Finance ISA
Your financial goals, how much you need and how long you have before you want to reach your goal are key factors in establishing which ISA is right for you.
Although Cash ISAs are currently the most common type of ISA, the extremely low interest rates have meant these ISAs have seen poor returns with the best rate at 1.05% for an Easy Access Cash ISA. If you are hoping to receive a higher return, then Stocks & Shares ISA could be right for you, as these ISAs have an average return rate of 7.4% between 2014/15.
