What is a cash ISA ?

© stock.adobe.com

Publié le

What is a cash ISA ?

An Individual Savings Account (ISA) is a savings account with special tax advantages : you do not have to pay income tax on the interest you earn.

There are limits to how much money you can put in a cash ISA in any tax year (which runs from April 6 to the following April 5).

In the 2010-11 tax year, the limit is £5,100 per person, and this is due to be raised in line with inflation every year from next year onwards.

You have to be 16 or older to open a cash ISA.

ISA : There are two types of ISA

Cash ISA : Deposit based savings account

Stocks & Shares ISA : Invest directly in stocks and shares

You can choose to save in a Cash ISA or invest in a Stocks and Shares ISA or a combination of both.

cash ISA

Une question, un commentaire?

💬 Réagir à cet article What is a cash ISA ? Publiez votre commentaire ou posez votre question...

À lire également

Switch banks: Your financial counselor is a thief, Slam the door of your bank !

You feel your bank isn’t up to scratch, your financial counselor is a thief, you can take the plunge and switch bank, Here are the details...

Notice account ?

Notice account also called notice deposit. A savings account but you must not touch your money according to a notification of days...

What is a regular saver account ?

Regular saver account: Invest your money on a short period with an interest rate attractive...