Cash ISAs: The super six

Cash ISAs: The super sixInterest rates on Cash ISAs remain historically low, and with current inflation rates, the true value of your savings may fall.  Despite this, and the introduction of the Personal Savings Allowance, which will mean far fewer people pay tax on their savings interest, Cash ISAs are still a popular way to save. Especially for those people who want to avoid the risks associated with stock market investments or, who are saving for short-term needs. As we approach the end of the tax-year, thoughts often turn to making ...

Savings: 5 accounts to get your cash working harder

5 accounts to get your cash working harderSavers have waited for over five years for interest rates to rise and there is no sign that they will start to move during the next few months. So we’ve scoured our best buy tables and come up with five accounts; ISAs, non-ISA and for children, which we really like and will get your savings work harder for you. Here they are, click on the name of the account for more information. Tax-free and instant access: Coventry Building Society ...

Savings: A warning about the ‘nicer’ ISA

Warning tapeSavers were delighted and surprised when it was announced in the Budget, that the maximum contribution into a Cash ISA (Individual Savings Account) will rise to £15,000 from 1st July. But there’s a sting in the tail, which could mean savers miss out on sheltering £9,060 from the taxman. Missing out on the new ISA limit The ISA limit will rise part way through the tax-year, on 1st July, creating a problem for savers. From 6th April 2014 the maximum savers can pay into a Cash ISA is £5,940; this will rise ...

Inflation: Savers struggle as inflation rate remains unchanged

Savers struggle as inflation rate remains unchangedFigures from the Office for National Statistics (ONS), released yesterday, showed that the Consumer Prices Index (CPI) remained unchanged in January at 2.7%. The ONS reported that rises in the price of alcohol and tobacco were offset by decreases in the cost of clothing and footwear. It was the fourth month in a row that CPI has remained unchanged, the longest period without an increase or decrease since 1996; however the Retail Prices Index (RPI) which ...